Reality bites
Just Another Day in Social Media. 😉
After seeing so much negativity on social media recently, I feel like this tweet is really catching a mood. (Gold medal for effort, Bing Dwen Dwen). Sending everyone much love and light this week. ❤️ ☀️
Here are today's top stories:
Meta gets a (hard) reality check
Twitter wants us to test downvotes
Instagram unveils 3D avatars
And two minutes until lights out
Read on ⬇️
Reality Check
On Feb. 4, 2004, Facebook — now known as Meta — officially launched to the world. Now, 18 years later, the company is facing new challenges as it attempts to change focus from social media to the metaverse. Last week, Meta announced dismal earnings, which caused its stock to crash. Meta CEO Mark Zuckerberg also acknowledged that there is one app the company is watching. Here's what you need to know...
The Bad News
It's not a good day when a company sees its stock tank 26 per cent, causing it to lose $230 billion in market value. But that's what happened to Meta last week when it announced its quarterly earnings report for Q4 that showed it's losing billions on its Reality Labs (the focus of its metaverse efforts, including its VR headsets and software, and AR glasses). However, perhaps even more unsettling for the company — for the first time ever, Facebook saw a decline of daily global users. While there was modest growth across all apps, the main app lost about half a million users in its fourth quarter ending December, compared to the previous quarter, according to the NY Times.
Why It's Happening
For one thing, Meta and its social media apps are losing out to TikTok. Zuckerberg admitted as much during Meta's fourth-quarter earnings call on Wednesday, according to The Verge. "People have a lot of choices for how they want to spend their time, and apps like TikTok are growing very quickly," he said. Snap CEO Even Spiegel, who also spoke during an earnings call last week, also admitted the TikTok-style of posts (which it copied for its "Spotlight" feature) is much more popular than Stories. But this isn't the only reason that Meta is struggling with its new direction. Apple's App Tracking Transparency update — which gives people the chance to opt out of being tracked — has impacted Facebook's ability to target ads. The metaverse is also very expensive. And the threat of anti-trust action looms over the company. (Must Read: 6 Reasons Meta Is In Trouble from the NY Times).
Why Any of This Matters
Social media managers probably don't care whether Meta struggles financially or not. But one thing to keep in mind — the company (which owns Facebook, Instagram, Messenger and WhatsApp) is directing ALL of its resources to building the metaverse. It has reduced budgets for its social apps, and pulled staff from those areas, according to this NY Times article, to help fuel its new vision. It's unclear exactly how the social media apps will be impacted by these decisions, but it isn't a big jump to assume it isn't going to be good. Instagram is trying desperately to woo back younger viewers who have fled to TikTok, while enhancing video and messaging capabilities. How it will be able to do that with fewer staff and lower budgets? And if it isn't able to keep up, there could be a major shift in where we choose to invest our social media resources (if you don't have a TikTok brand profile yet, grab it now!).
SOCIAL SNACKS
Twitter Wants us to Test the ⬇️
Don't be surprised if you see the option to downvote a reply on Twitter. According to a recent tweet from the @TwitterSafety account, the company is launching a global test of downvoting on replies. "Downvotes aren't public, but they'll help inform us of the content people want to see," the account tweeted. According to Twitter's initial research, the main reasons people downvote include: the reply was perceived as offensive, not relevant, or both. Research also revealed the downvote was used to flag content people don't want to see. And initial tests suggest that users think it improves the quality of conversations on Twitter. It's uncertain whether this will become a permanent feature. In the meantime, I think we should do our best to participate in this test so Twitter can get a full understanding of how it might potentially be used (aka, weaponized).
Instagram Unveils 3D Avatars
If you thought we were slowly going to get introduced to the metaverse over a number of years, your timing may have been a bit off. Meta-owned Instagram is already announcing that 3D avatars are starting to roll out to Stories and DMs. You'll be able to use your avatar across Facebook, Instagram and Messenger. In a video posted on Twitter, Instagram CEO Adam Mosseri said avatars will replace the traditional "profile" and be much more dynamic. You'll be able to change your clothes, and fill a backpack with digital currency (Mosseri also mentions Harry Potter items?). Anyway, these avatars will exist within the Meta apps for now, but the goal is that you'll be able to take these identities wherever you go — even to third-party apps, according to Mosseri. And so it begins...
To create your avatar in Instagram, go to: Profile > Menu > Settings > Account > Avatars
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ICYMI
🔴 Meta introduces a personal boundary for Horizon Worlds and Venues [Meta Blog]
🔴 Pinterest introduces AR Try On for Home Decor [Pinterest Blog]
🔴 LinkedIn announces legal action to protect members against scraping [LinkedIn Blog]
UPCOMING WEBINAR
APP-LIKE
Apps Jump On Metaverse
Following Facebook's announcement on Oct. 28th about its new focus on the metaverse, there was a big jump in apps who added the term to their descriptions or name. According to mobile app analytics firm Sensor Tower, there was a 66-per-cent increase in the number of apps who made the change. The biggest category that saw an increase in mentions — mobile games. And the majority of the apps mentioning the "metaverse" also mentioned "crypto." Read the Sensor Tower Blog Post.
SLEEPY-LIKE
Two Minutes Until Lights Out
This time last year, sea shanties were going viral on TikTok. Two years into the pandemic, it's videos about how to get to sleep (makes sense, tbh). In a recent TikTok video, personal trainer @justin_agustin shared a military technique for falling asleep in two minutes, under any circumstance. It's not super complicated, and involves relaxing your body, and taking your mind to places of calm. Rx: Practice every night for six weeks to master. The video has 8.5 million views, which makes me think I'm not the only one having trouble sleeping. 😴
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