It's not a given that social media had anything to do with the result of the election, the few scientifically researched reports out there suggest that good ol’ mainstream media was by far the prime channel of influence:
https://cyber.harvard.edu/publications/2017/08/mediacloud
That aside, so what if “fiction was outperforming reality”? it’s a marketplace of ideas and people choose to spend their time watching what they may, stop infantilizing them.
I realise that the media has been under “attack” lately (if you really consider name calling as serious attack) but they would benefit from some introspection, not only are they scapegoating social media and calling for it to be regulated - freedom of speech be damned - they also keep advancing the invented notion of a “backlash against tech firms” projecting their own aversions onto the rest of the world.
See: no real evidence of any such backlash: