How Facebook's algorithm change negatively affected media companies

The algorithm change implemented by Facebook negatively affected media companies. Initially, Facebook promised to be a traffic funnel for media companies by showing their content to users and encouraging them to click on links and subscribe. However, over time, Facebook gradually reduced the visibility of media companies' posts to their subscribers. Eventually, posts with links back to the company's website were not shown to most subscribers unless the company paid to boost it. This resulted in media companies competing with other companies on Facebook who diverted money towards boosting their content instead of improving the quality of news production. As a result, media companies and their subscribers were both adversely affected.