Meta will be closing Bulletin one year after launching the newsletter service. The news was announced via email that was sent to the creators on the platform, as reported by The Verge.
Meta Spokesperson Morgan White stated, "While this off-platform product itself is ending, we remain committed to supporting these and other Creators' success and growth on our platform,". Bulletin resources will be refocusing on the platform's discovery algorithm as the Meta competes with TikTok, as TechCrunch reported.
The email also said that the company will not be taking a cut from subscriptions until its shutdown, which is in 2023. The creators on the platform include Malcolm Gladwell, Tan France, and Erin Andrews.
During its launch in 2021, Bulletin is marketed as a platform that focuses on empowering writers. This platform helped them reach new audiences and boosted their writing business. The newsletter platform was a part of Meta's mission to improve its creator monetization tools.
Shutdown Reasons
Aside from the newsletter service did not become popular despite being owned by Meta, Bulletin reported that in the span of six months, there are only 115 publications given the fact that half of the creators on the platform had over 1,000 subscribers.
Meta Chief Executive Officer Mark Zuckerberg also warned employees that Meta will freeze hiring, cut costs, and restructure groups as the company will be experiencing an intense period for the next two years.
He also stated that the company is currently facing declining revenue and valuation in the market. Because of these reasons, Meta will possibly conduct layoffs in the future to its current employees.
Several experiments were also shut down by the company like Tuned, a messaging application for couples. A report from Platformer also revealed that Chief Product Officer Chris Cox has directed the product group to focus on innovating in short form videos as Reels feature has been failing to keep up with its competitors.
Despite many of its users having unsatisfied feedback about Meta's changes to Facebook and Instagram, the company continues the plan of mastering algorithmic discovery. As per a survey conducted by The Information, Instagram offered its users a "much lesser fun" experience than before and they now prefer TikTok or YouTube as an alternative to the platforms.
This article is owned by TechTimes
Written by Inno Flores
