The Wall Street Journal reported interesting details on a new Facebook initiative on Friday.
The initiative, called Instant Articles, is aimed at speeding up load time for third party links clicked on the social media platform using mobile devices. According to the report, Facebook plans to start hosting news and videos from The New York Times, BuzzFeed, National Geographic and other publishers as early as this month.
In order to get publishers to come on board, Facebook is offering to change its traditional revenue-sharing model. One of the models under consideration would allow for publishers to keep all revenue from ads they sell on Facebook-hosted news sites. If Facebook sells the advertisement, they would keep 30 percent of revenue. Facebook hopes giving up revenue will encourage users to spend more time on their network.
Deals with Facebook’s launch partners are still be finalized and the timing could change. Facebook is in active talks with other publishers as well.
You can read the complete report by The Wall Street Journal at this link.