Meta stock DROPS after quarterly earnings report – The report showed much lower than expected revenue and investors are beginning to question the huge investments ($9 billion this year) in the Metaverse.
Meta Focus Revealed – In light of the report, Meta shared its focus going forward. The focus will be on AI discovery (to compete with TikTok), business messaging (to capitalize on this untapped opportunity), reducing reliance on user data in ads (because of the ios update) and of course, the Metaverse.
New Features in Groups – Groups get more features including public profiles and more robust admin features. If you are a heavy user of groups check out the new additions.
Instagram News Updates
Expanded Test of Multiple Links in Profiles – A client recently asked about this (they saw it on another profile). but it is still in TEST mode. So you may or may not get access (and it may or may not be permanent. We’ll keep you posted if there is an official roll-out.
Reels are Driving Engagement – This shouldn’t be surprising but Reels are driving the most engagements. Stories and Lives are also growing which could mean that the newsfeed is getting less attention.
Instagram Tests In-App Scheduling – Again, this is still in test mode, but this could be a game changer for those who are looking to scheudle Instagram natively.
Twitter News Updates
Elon Musk Buys Twitter – The purchase of Twtitter by Elon Musk has created a lot of speculation about the future of the platform. My advice? Wait and see what happens. While the headlines suggest a mass exodus and brands leaving the platform, the truth is that sensational headlines don’t always reflect the data. Wait for data to see where the platform really is in terms of users.
Changes to Twitter: Relaunching Vine and Paid Blue Checkmarks – The early changes for Twitter shared by Musk are to bring back Vine short format video and start charging a subscription for verified accounts. There are no clear timelines or plans for either of these, so stay tuned.
TikTok Enhances Lives – The new Live experience includes multiple hosts/guests on a Live and also has an age restriction of 18 to go live in their new community standards.
TikTok Launches Profile Kit – This allows up to 6 links and support for LinkTree integration. This is making TikTok easier to convert to website traffic and sales.
YouTube + Google News Update
YouTube Introduces Handles – This is something that I thought already existed, but you can now create and use a handle in conversations on YouTube. Reserve your handle ASAP.
Alphabet (Google) Revenue Drops 27% – The big tech companies continue to miss earnings estimates and see stock price drops. The drop can be attributed to coming out of the pandemic, growth of other online platforms and also performance issues within Google products.
Use of Social Media Platforms This Year – This chart shows US Adults’ use of social media platforms. Interestingly usage of almost all platforms is up across the board. TikTok is making big gains but still has only 30% of the adult population.
Biden Executive Order Shield 2.0 – This executive order is likely to be similar to GDPR in Europe and is aimed at protecting user data. Stay tuned for the timeline and impact.
