Facebook now sees 1.55 billion monthly users and the company is reportedly preparing to launch a news app called Notify.
According to a report in the Financial Times, the largest social network in the world will release the app next week that will allow iOS and Android users to receive real-time updates on breaking news, thus taking on the likes of Twitter, Snapchat, and even Google News alerts.
The report suggests that Facebook has signed up a number of media partners to provide written and video content, including Vogue, the Washington Post, Comedy Central, Billboard, CBS, and CNN. Unfortunately, there is no indication of any Canadian publications being part of the launch.
Many details are still unknown, but a report in August suggested users can subscribe to a list of news outlets and when breaking news occurs, the standalone app will send an alert to your device. The alert will reportedly be limited to 100 characters and also include a link to the original article.
Last month, Facebook launched Instant Articles, which loads news articles within its iOS app 10 times faster and makes it easier for users to share.
The report from the FT did not state how or if Notifiy will be monetized, but considering 894 million people use Facebook on a daily basis from a mobile device, and 1.39 billion every month, this could be a good opportunity to dramatically increase its revenues.
Facebook’s Q3 2015 earnings were announced yesterday and the company reported $4.5 billion in revenue. Mobile advertising revenues were a whopping 78 percent, representing $3.51 billion in the quarter.