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Social Media Influence Mainstream Media: Evidence from Two Billion Tweets

Author

Listed:
  • Cage, Julia
  • Hervé, Nicolas
  • Mazoyer, Béatrice

Abstract

This paper investigates whether news editors’ editorial decisions are influenced by the popularity of news stories on social media. To do so, we build a novel dataset containing around 70% of all the tweets produced in French between August 2018 and July 2019 and the content published online by the universe of general information media. We develop novel algorithms to identify and link events on social and mainstream media. To isolate the causal impact of popularity, we propose a new instrument based on the interaction between measures of user centrality and social-media specific shocks to content popularity. We show that, for a given story’s newsworthiness, its social media popularity increases its coverage by mainstream media, particularly for media relying strongly on advertising revenues. This reflects the distortive effect of social media, with respect to both the public service mission of mainstream media and consumers’ preferences. Our findings – which we relate to the overall transformation of the media industry – shed new light on news production decisions in the digital age and the welfare effects of social media.

Suggested Citation

  • Cage, Julia & Hervé, Nicolas & Mazoyer, Béatrice, 2022. "Social Media Influence Mainstream Media: Evidence from Two Billion Tweets," CEPR Discussion Papers 17358, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:17358
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    Keywords

    Internet; Information spreading; Network analysis; Social media; Twitter;
    All these keywords.

    JEL classification:

    • C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models
    • D85 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Network Formation
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
    • L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
    • L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software

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