Nice play on words: Facebook’s F8 Conference reminds me of the political G8 pep rally, the annual conference of global leaders. Facebook’s kind of yearly get-together may be minimally less interesting only because the POTUS won’t be in attendance. On the other hand, Mark Zuckerberg will be the keynote speaker so it will be intriguing to tune in on how his global takeover of everything related to the internet is progressing. Certainly this is the place to hear about it.
Articles in an instant
There’s a packed schedule of events. For a peak at the complete schedule just click here. That said, the “social” part of social media is evolving faster than most of us can keep up. I am particularly interested in Facebook’s Instant Articles app which is being rolled out this week. I am curious how IA will help increase the reach and engagement of someone’s content in addition to how it will generate income.
Loss of revenue has been a concern for some when it comes to publishing on Facebook and in December the company made it easier for publishers to generate ad revenue from Instant Articles too. Placing a huge emphasis on user experience and satisfaction, we’re sure to learn more about the importance of Instant Articles moving forward. Publishers willing to display their content natively within the Facebook app may see big results down the line.
If it’s Facebook it must be LIVE
I wasn’t kidding early on when I said that Mark Zuckerberg wants to be the Almighty of the Internet. It’s the role of lifetime. Facebook Live really brings this into focus. Zuckerberg recently said that, “Live is like having a TV camera in your pocket. Anyone with a phone now has the power to broadcast to anyone in the world.” I’m not sure that isn’t already happening.
With Instant Articles and now Live, Facebook is positioned to control more and more of the actual experience of reading and viewing news. Certainly a large portion of F8 may very well be focused on providing answers to the hundreds questions that developers, publishers, and marketers will have about best-practices in utilizing and optimizing Live. We may even learn about advanced Live features for publishers such as multiple camera angles, graphics, and more polished TV-style production values.
The New Yorker posits that “Live further exposes Facebook’s active, seemingly unquenchable thirst for more ways to become the middleman in your digital interactions. It literally wants you to broadcast your life on the platform.”
There’s more to F8 than I can preview in one sit down that’s for sure. I have no doubt that Facebook’s F8 will impact the world of social media much like the G8 conference impacts the global perspective of our lives.
Brace yourselves: Facebook has re-opened political advertising space
(SOCIAL MEDIA) After a break due to misinformation in the past election, Facebook is once again allowing political advertising slots on their platform – with some caveats.
After a months-long ban on political ads due to misinformation and other inappropriate behavior following the election in November, Facebook is planning to resume providing space for political advertising.
Starting on Thursday, March 4th, advertisers were able to buy spots for ads that comprise politics, what Facebook categorizes as “social issues”, and other potentially charged topics previously prohibited by the social media platform.
The history of the ban is complicated, and its existence was predicated on a profound distrust between political parties and mainstream news. In the wake of the 2016 election and illicit advertising activity that muddied the proverbial waters, Facebook had what some would view as a clear moral obligation to prevent similar sediment from clouding future elections.
Facebook delivered on that obligation by removing political advertising from their platform prior to Election Day, a decision that would stand fast in the tumultuous months to follow. And, while Facebook did temporarily suspend the ban in Georgia during the senate proceedings, political advertisements nevertheless remained absent from the platform in large until last week.
The removal of the ban does have some accompanying caveats—namely the identification process. Unlike before, advertisers will have to go to great lengths to confirm their identities prior to launching ads. Those ads will most likely also need to come from domestic agencies given Facebook’s diligent removal of foreign and malicious campaigns in the prior years.
The moral debate regarding social media advertising—particularly on Facebook—is a deeply nuanced and divided one. Some argue that, by removing political advertising across the board, Facebook has simply limited access for “good actors” and cleared the way for illegitimate claims.
Facebook’s response to this is simply that they didn’t understand fully the role ads would play in the electoral process, and that allowing those ads back will allow them to learn more going forward.
Either way, political advertising spots are now open on Facebook, and the overall public perception seems controversial enough to warrant keeping an eye on the progression of this decision. It wouldn’t be entirely unexpected for Facebook to revoke access to these advertisements again—or limit further their range and scope—in the coming months and years.
Twitter to start charging users? Here’s what you need to know
(SOCIAL MEDIA) Social media is trending toward the subscription based model, especially as the pandemic pushes ad revenue down. What does this mean for Twitter users?
In an attempt to become less dependent on advertising, Twitter Inc. announced that it will be considering developing a subscription product, as well as other paid options. Here’s the scoop:
- The ideas for paid Twitter that are being tossed around include tipping creators, the ability to pay users you follow for exclusive content, charging for use of the TweetDeck, features like “undo send”, and profile customization options and more.
- While Twitter has thought about moving towards paid for years, the pandemic has pushed them to do it – plus activist investors want to see accelerated growth.
- The majority of Twitter’s revenue comes from targeted ads, though Twitter’s ad market is significantly smaller than Facebook and other competitors.
- The platform’s user base in the U.S. is its most valuable market, and that market is plateauing – essentially, Twitter can’t depend on new American users joining to make money anymore.
- The company tried user “tips” in the past with its live video service Periscope (RIP), which has now become a popular business model for other companies – and which we will most likely see again with paid Twitter.
- And yes, they will ALWAYS take a cut of any money being poured into the app, no matter who it’s intended for.
This announcement comes at a time where other social media platforms, such as TikTok and Clubhouse, are also moving towards paid options.
My hot take: Is it important – especially during a pandemic – to make sure that creators are receiving fair compensation for the content that we as users consume? Yes, 100%. Pay people for their work. And in the realm of social media, pictures, memes, and opinions are in fact work. Don’t get it twisted.
Does this shift also symbolize a deviation from the unpaid, egalitarian social media that we’ve all learned to use, consume, and love over the last decade? It sure does.
My irritation stems not from the fact that creators will probably see more return on their work in the future. Or on the principal of free social media for all. It stems from sheer greediness of the social media giants. Facebook, Twitter, and their counterparts are already filthy rich. Like, dumb rich. And guess what: Even though Twitter has been free so far, it’s creators and users alike that have been generating wealth for the company.
So why do they want even more now?
TikTok enters the e-commerce space, ready to compete with Zuckerberg?
(SOCIAL MEDIA) Setting up social media for e-commerce isn’t an uncommon practice, but for TikTok this means the next step competing with Facebook and Instagram.
Adding e-commerce offerings to social media platforms isn’t anything new. However, TikTok, which is owned by the Chinese firm ByteDance, is rolling out some new e-commerce features that will place the social video app in direct competition with Mark Zuckerberg’s Facebook and Instagram.
According to a Financial Times report, TikTok’s new features will allow the platform to create and expand its e-commerce service in the U.S. The new features will allow TikTok’s popular users to monetize their content. These users will be able to promote and sell products by sharing product links in their content. In return, TikTok will profit from the sales by earning a commission.
Among the features included is “live-streamed” shopping. In this mobile phone shopping channel, users can purchase products by tapping on products during a user’s live demo. Also, TikTok plans on releasing a feature that will allow brands to display their product catalogs.
Currently, Facebook has expanded into the e-commerce space through its Facebook Marketplace. In May 2020, it launched Facebook Shops that allows businesses to turn their Facebook and Instagram stories into online stores.
But, Facebook hasn’t had too much luck in keeping up with the video platform in other areas. In 2018, the social media giant launched Lasso, its short-form video app. But the company’s TikTok clone didn’t last too long. Last year, Facebook said bye-bye to Lasso and shut it down.
Instagram is trying to compete with TikTok by launching Instagram Reels. This feature allows users to share short videos just like TikTok, but the future of Reels isn’t set in stone yet. By the looks of it, videos on Reels are mainly reposts of video content posted on TikTok.
There is no word on when the features will roll out to influencers on TikTok, but according to the Financial Times report, the social media app’s new features have already been viewed by some people.
TikTok has a large audience that continues to grow. By providing monetization tools in its platform, TikTok believes its new tools will put it ahead of Facebook in the e-commerce game, and help maintain that audience.
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