Facebook is set to launch a new standalone app next week featuring content from a range of print, digital and video media partners including CNN, Mashable, The Washington Post and Vogue, according to reports.
This move sees Facebook take on Snapchat’s Discover mobile video service and Twitter’s Moments in the mobile news sector, following an encouraging response from readers and publishers alike to Facebook’s Instant Articles, which pushes out embedded stories in the mobile app news feed allowing a faster load time.
The app was tested over the summer and is set for a full launch this week, according to The Financial Times.
According to Facebook’s quarterly review, mobile ad revenue grew 72% year on year to $3.3bn in its third quarter, making up more than three quarters of total ad revenue for the group.
Despite Facebook’s success at attracting users to its main smartphone apps like Messenger, with monthly active mobile users up 23% in the past year, previous attempts at standalone apps like messenger service Poke and video chat app Slingshot have failed to gain a substantial following.