It absolutely does. In modern companies many employees spend at least an hour a day (and in many cases 2-3 hours for less motivated employees) dicking about on social media, reading the news etc. If the change in working conditions comes with a reduction of this kind of messing around and more work focus, I could see it easily having a profound impact on productivity.
This definitely seems like it's true. I wonder if there have been any reputable studies or surveys on how much time office employees waste on average like this?