Facebook going into news business with launch of "Thestreet" product
Facebook seems to be following the footstep of Google - going into every aspect of computing from social media, to advertisements, to wireless network access, to education and now news subscription
The news feature, Thestreet, to be launched by Facebook in October is likely to allow publishers create a paywall on Facebook's Instant Articles and guide readers to a publisher's home page to opt for a digital subscription, according to TheStreet report.
The idea for a paywall is based on premium and metered plans and has been in the works for a while, TheStreet said, citing Brown at the Digital Publishing Innovation Summit in New York.
Having the largest social media platform places Facebook at strategic advantage to provide news content and news subscription