Facebook is planning to give a new look for its popular newsfeed, the company announced Thursday. The company, which has now over 1 billion members, will announce a new look to its newsfeed. Newsfeed is one of the "pillars" of Facebook which displays constantly changing news of photos, videos and comments uploaded by the user's friends.

In an announcement that simply stated "Come see a new look for News Feed," Facebook invited the press for the event scheduled for March 7 at its office in Menlo Park, California.

It is not known how the new look of newsfeed would look like, but some insiders have speculated that the revamped newsfeed would have greater emphasis on showing photos and videos that would be highlighted in larger sizes and new formats for all the users including those in smartphones, tablet or desktop.

The newsfeed makeover could encourage more re-visits to the page from members and coax them to spend more time, all of which would prove lucrative to the social networking giant because more time spent by Facebook members would mean greater advertisement revenue.

Although Facebook is frequently testing new features to the social networking site, the last time it made a major change in the newsfeed was almost 18 months ago. The announcement of the new look for newsfeed comes less than a month after the company had unveiled a new feature called "Graph Search" which allows Facebook members look for information, recommendation and photos shared by all its members.

International Business Times will give a detailed report on the improved newsfeed announcement March 7.

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