Instagram: best tech buy in recent history?
Instagram sold to Facebook for a whopping $1B in 2012, and at the time, it dominated headlines for demanding such a high price tag. Fast forward just two short years, and Citi says the value is now $35 billion.
The company is in the middle of major changes, not only making the ballsy move to cut spam accounts (thereby reducing number of users and impacting most peoples’ follower counts), but adding new filters and features in the form of a “tray” that allows you to put your favorite filters front and center. These things sound small and simple, but for an app that has a single function and is designed to be simple, it’s huge.
Previously, Citi valued the brand at $19 billion, and has now increased that number by nearly double, as the app has performed better than even the most conservative projections regarding monetization and user growth. The value is calculated by analyzing future earnings for Instagram.
The year of revenue streams
Citi analyst Mark May says this coming year will be the year that revenue streams off Facebook take off, not just from their ad network, but from Instagram, WhatsApp, and other brands under the FB umbrella. Instagram alone is projected over time to contribute over $2B in “high-margin revenue at current user and engagement levels if fully monetized,” May noted.
The app has launched a rich advertising suite, offering analytics and targeting, and has even expanded outside of the U.S. and adding video ads for a pilot group of partners. Citi projects these ad products could generate up to $2.7B in revenue in 2015.
With a one billion dollar investment in an app which was mocked at the time as an excessive spend akin to behaviors not seen since before the dotcom bubble burst, Facebook could be seeing one of the biggest returns in recent history.
Instagram flaunts new features, including a decked out desktop experience
(SOCIAL MEDIA) It’s been a time of exciting product and feature announcements for Instagram with additions of Collabs, fundraisers, and desktop posts on deck
It’s been a time of exciting product and feature announcements for Instagram on both mobile and desktop.
“Collabs” allows up to 2 accounts to co-author a post or Reel, both sharing joint ownership of what is ultimately published. The post or Reel will show up equally on both users’ feeds with the same amount of engagement numbers, but combined, including comments, view numbers, and like counts. This is initiated through the tagging screen and the invited account will have to accept the offer before the collab can be complete.
Fundraiser & Reel Features
Instagram was quick to jump on the short-form content trends taking the social media world by storm. With the rise of TikTok, the Insta platform that was originally focused on static photos added Reels, along the same wavelength of short 15, 30, or 60-second videos, though the competitor has now expanded with the option of 3 minutes. Even so, Instagram is taking the time to improve music-related features within the Reels section of the app, adding “Superbeat” and “Dynamic.” The first adds effects to the video matching the beat of the chosen song, while the latter offers unique and interesting ways to display the song’s lyrics on screen. In addition, they are beginning to test the option to run fundraisers on a post by clicking the + button in the top right corner of the interface.
FINALLY! Instagram is now realizing just how many users truly enjoy the desktop experience. If one were to compare the platform on the mobile app vs. desktop, they would see the slew of differences between the two with the desktop interface looking like the 1st year Instagram was even introduced. Functionality is no comparison; they only just added the ability to DM on desktop last year. As one can see, there is an extremely limited experience on desktop, but Instagram is now rolling out the ability for users to post from their browsers. Catch us enjoying posts on the big screen!
Truth Social: Trump’s long-standing battle against Big Tech backfires
(SOCIAL MEDIA) Truth Social is an example of how a new platform, though necessary to keep competition alive, can prove to be fallible before it succeeds.
Former President Donald J. Trump announced a new social media platform, dubbed “Truth Social” last week. The platform has since been the recipient of cyber attacks by hacker collective Anonymous and the Software Freedom Conservancy has accused the Trump Media and Technology Group of violating the terms of their software agreement.
The circumstances plaguing Truth Social provide a small (if nuanced) look into the rigors of creating and sustaining new social media platforms in the modern-day. While expanding the number of social media platforms available creates more competition, this platform, in particular, raises some questions about the wisdom of investing in a service that creates an ideological echo chamber, as well as demonstrating that not just anyone can run a social media site.
There’s no denying that this new entry into the world of social media is off to a rocky start. Cyberattacks just hours after Truth Social’s test run left the site in disarray, with fake user accounts for Mike Pence, Steve Bannon, and Donald Trump appearing at various stages of the launch. Truth Social’s hosts eventually took it offline, and the sign-up process is halted for the time being.
Truth Social also has some interesting rules regarding user interactions on their platform, including a non-disparagement clause and the assertion that users can be sued for the content they post, Time reports.
This clause is in stark contrast to the ethos behind Truth Social – a platform that, according to the press release, was “founded with a mission to give a voice to all” and “stand up to the tyranny of Big Tech.”
The disparity in messaging versus reality is an understandable mistake, as much of Trump’s mindset was most likely impacted by criticism levied against him on mainstream social media when he had his accounts – and anyone in the same position might reasonably make the same call. However, restricting users to agree with one set political ideology is a perilous precedent to set. Echo chambers aren’t particularly conducive to longevity.
The Trump Media and Technology Group also violated the terms of their open-source software of choice when they uploaded the pilot version of Truth Social. According to the licensing agreement associated with Mastodon – the software company TMTG used – users must have access to the source code for the product in question (in this case, Truth Social).
Since the initial users of Truth Social did not receive that access, the social media platform is at risk of permanently losing its rights to the code.
While some of these pitfalls feel proprietary to Trump insofar as his high-profile battle against social media is concerned, the truth is that any development of new social media entries will be messy and fraught with obstacles. Truth Social is just one example of how a new platform – something that is absolutely necessary to keep competition alive – can prove to be publicly fallible far before it ever succeeds.
Instagram Collabs: New feature fosters the ability to co-author content
(SOCIAL MEDIA) Instagram is rolling out a few updates, including a new post format called Collabs, giving users a new way to co-author feed posts and reels.
Instagram is rolling out a few updates, including a new post format that many can benefit from. Called Instagram Collabs, this latest feature gives users a new way to co-author feed posts and reels. This isn’t the first feature Instagram has rolled out to promote collaboration between users, but we think it will be a beneficial addition!
How to use Instagram Collabs
Using Collabs is very similar to how you tag someone on Instagram. You can start by choosing to create either a reels video or feed post. After recording your video or taking your photo like you normally would, you head over to the “Share” screen and select “Tag People”. On that screen, there is now an “Invite Collaborator” option!
By choosing to invite a collaborator, the account you add will be able to share your post to their profile grid and their followers. Additionally, the names of all the collaborators will appear in the feed post or reel header, but before their username shows up on your post, the collaborator will need to accept the collaborator invitation first.
Keep in mind, only public accounts can be tagged and there is a limit to how many tags you can use. You’re able to tag up to 20 accounts, including the number of tagged users and collaborators.
Benefits of Instagram Collabs
Collabs makes it quicker and easier for everyone to share content on the platform. From local artists working together on a project to businesses working with high-profile influencers to promote their brand, content is shared instantly. Gone are the days of screenshotting or using third-party apps to repost that same content on your profile.
Along with making sharing easier, the feature makes it clear and simple to give credit where it’s due – all authors are given credit. When it comes to branded sponsorships, instead of adding hashtags or brand tags that can become cluttered, along with the user, the names of brands are neatly displayed in the header. Before this feature, it was a little difficult to distinguish a regular tag from a business, but with Collabs, that is no more.
And last, but not least, collaborators will all share views, likes, and comments. By sharing engagement signals, content creators will be able to maximize their reach and businesses will have more transparency with their customers.
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