ICYMI: Facebook rebrands to Meta

Plus, Postmedia launches an exclusive new wealth management vertical and Rogers brings new ad opportunities with Vevo launch.
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Facebook gets a new corporate identity to reflect future ambitions

Facebook Inc. will now be known as Meta, a name change meant to capture CEO Mark Zukerberg’s efforts for the company to be a leading architect of the “metaverse.”

Announced during Thursday’s VR-focused Connect event, the Facebook social network will retain its name, but Zuckerberg said that the identity, as well as the company’s association with social media, no longer captured the breadth of what it offered, which includes Instagram, WhatsApp, blockchain payment system Diem and – possibly most important to the company’s future – Oculus VR.

Since the summer, Zuckerberg has been pushing the idea of the metaverse, his term for virtual and mixed reality environments he believes will become a major facilitator of everything from entertainment and social interactions to workplace meetings and virtual learning. Beyond the virtual world, the company is also investing in AR, and is currently constructing hardware for new AR glasses.

The “Facebook Papers,” a cache of leaked internal documents, have made their way into public view. News outlets have been releasing their findings from the thousands of files as the week has gone on, but the biggest themes are that the company has been unable to stop the spread of misinformation, hateful content or the organization of violent movements on its platform, or unwilling to adopt any measures that could impact its growth, which has been floundering with youth. Facebook’s response to the reporting has been that a selection of documents cannot be used to draw conclusions about the company.

The shift in priorities also comes as Facebook’s advertising business comes under increasing scrutiny from policy makers who are examining what some have called its duopoly with Google over the digital ad industry, leading to calls for more regulation and mandates that they share more of their ad revenue with publisher websites.

Postmedia takes a members-only approach to its new finance vertical

Postmedia has launched Canadian Family Offices, a website and newsletter that aims to provide an “in-depth, unbiased look” at wealth management and Canada’s family office industry.

Family offices are a way for ultra-high-net-worth individuals or families to manage the range of finance, investment and personal business matters they may have all in one place. The goal, says co-editor David Michaels, is to “de-mystify” family offices and provide credible information about the occassionally opaque world (Michaels is a former business editor at The Globe and Mail who was hired to run the hub with fellow former Globe editor Christina Varga).

Canadian Family Offices will feature journalism from Financial Post writers, content from its network of freelance financial writers and commentary from experts in the field.

The site is also taking a membership-driven approach to industry partners that want exposure to the vertical’s premium audience, making the site accessible only to carefully vetted industry partners. Members can then align complementary brands through member pages, story sponsorships and social brand exposure, which Postmedia says allows for better awareness building, consideration and lead generation.

Postmedia is working with content marketing firm Narrowcontent to develop the vertical.

Rogers brings Vevo to Canada

Rogers has launched Vevo for its Ignite TV and Ignite SmartStream customers, making it the first Canadian telecom provider to bring on-demand music video network to its subscribers.

In addition to accessing music videos, the Vevo app offers original content, live performances, and an interactive music video viewing experience, as well as programming tailored to various events, themes, or moods.

Vevo also offers advertiser opportunities for achieving incremental reach, especially among younger consumers and those not watching traditional broadcast TV.