In retrospect, Facebook’s takeover of online media looks rather like a slow-motion coup. Before social media, web publishers could draw an audience one of two ways: through a dedicated readership visiting its home page or through search engines. By 2009, this had started to change. Facebook had more than 300 million users, primarily accessing the service through desktop browsers, and publishers soon learned that a widely shared link could produce substantial traffic. In 2010, Facebook released widgets that publishers could embed on their sites, reminding readers to share, and these tools were widely deployed. By late 2012, when Facebook passed a billion users, referrals from the social network were sending visitors to publishers’ websites at rates sometimes comparable to Google, the web’s previous de facto distribution hub. Publishers took note of what worked on Facebook and adjusted accordingly.
This was, for most news organizations, a boon. The flood of visitors aligned with two core goals of most media companies: to reach people and to make money. But as Facebook’s growth continued, its influence was intensified by broader trends in internet use, primarily the use of smartphones, on which Facebook became more deeply enmeshed with users’ daily routines. Soon, it became clear that Facebook wasn’t just a source of readership; it was, increasingly, where readers lived.
Facebook, from a publisher’s perspective, had seized the web’s means of distribution by popular demand. A new reality set in, as a social-media network became an intermediary between publishers and their audiences. For media companies, the ability to reach an audience is fundamentally altered, made greater in some ways and in others more challenging. For a dedicated Facebook user, a vast array of sources, spanning multiple media and industries, is now processed through the same interface and sorting mechanism, alongside updates from friends, family, brands and celebrities. (Source)