Mark Cuban Blasts Facebook Promote Fees
Two weeks ago, Dallas Mavericks owner and tech billionaire Mark Cuban tweeted his frustration over having to pay Facebook hefty fees to reach already-acquired fans on the Mavericks' Facebook page. Now Cuban plans to show that his complaints are for real.
So now, when it comes to the Mavericks social media, Cuban recently said that he plans to lessen efforts on Facebook--prioritizing Twitter, Tumblr, and even the revamped MySpace instead.
“Why would we invest in extending our Facebook audience size if we have to pay to reach them?” Cuban told ReadWrite via email. “It’s not feasible yet, but we have no choice but to continuously evaluate alternatives.”
Cuban’s feud with Facebook began when he posted a screenshot of an offer from Facebook asking him to pay $3,000 to reach 1 million followers on the Mavericks’ fan page.
When TechCrunch founder and investor Michael Arrington heard about Cuban’s complaints, he promoted a test post to his 350,000 subscribers and found that 100% of post’s views were paid views.
“I wouldn’t feel like such a chump if I saw at least a few unpaid views,” Arrington wrote Tuesday on TechCrunch.
Cuban said a better way for Facebook to charge brands to reach their fans would be to ask for an upfront or monthly fee so companies can avoid the hassle and attention that comes with paying for each promoted post.
“In the current system there is complete uncertainty on the cost,” Cuban said. “And even worse, at least for our size brands, you have to deal with the pricing for each posting, which is a time waster.”
In May, Facebook announced that it would allow businesses with Facebook Pages to increase their reach and push to the top of newsfeeds for a paid fee, according to CNET. The social network decided to open up the paid feature to users with less than 5,000 friends and subscribers in October.