As rumored for what feels like the last decade, Facebook will launch its geolocation feature “within weeks,” according to a CNET report:
It’s going to take the form of an application programming interface (API) for third-party companies on the Facebook developer platform, integrating existing “check-in” start-ups more deeply into the massive social-networking service and in turn permitting location-aware data to become a part of existing platform applications.
If you work in local media — or run a neighborhood blog — what does this mean? Facebook is a force, that’s for sure, so naturally there’s a concern that it becomes the home for hyperlocal communities. While that’s still unclear, Simulmedia CEO Dave Morgan argues that the rise of location-based services will devastate local media:
If local newspaper, yellow pages, radio or local TV companies thought that Google, Yahoo, eBay and Craigslist were disruptive, they are now going to face down a competitor that will have an even bigger impact on their businesses than any one of those companies did.
Morgan estimates that services like Facebook’s upcoming geolocation feature — which due to Facebook’s massive reach, would be the largest player — “will take 20% to 25% of the annual revenue out of local media’s current advertising base within four years.” Overly aggressive? Likely, but it’s clear the local media space is still facing an uncertain forecast.
