Social media is a ginormous part of our modern-day lives. From mere web portals that served as a means to keep in touch with people to exclusive sources of news, reviews and platforms to stir up social revolutions, websites like Facebook and Twitter have done it all. However, if the developments of this week are any indication, a popular social media goliath might be staring down the barrel of a gun. Albeit, the trigger might take some time to hit the dreaded mark.
Twitter is having trouble recruiting new users. The social media giant recently presented its second-quarter earnings report and it presented a very intriguing detail. At 328 million users logging in per month, the numbers haven’t changed as compared to three months back when Twitter submitted its last such report. All this despite the fact that the world’s most powerful man, the current POTUS, is an ardent Twitter man himself and offers the company regular promotion on global media. Analysts had expected the San Francisco based company to add upwards of 4 million more subscribers, unfortunately that hasn’t come to fruition. Here’s hoping the company is able to turn things around in the next quarter and re-focus its attention on finally turning profitable.
Facebook is rooting for video, calls it the future
Over at Menlo Park, Facebook’s CEO Mark Zuckerberg too presented his company’s Q2 earnings and fielded a barrage of questions concerning the monetization of his company’s influential chat application, Messenger. Rather than focusing on Messenger ads and the prodigious income that would bring, Zuckerberg decided to call out video as Facebook’s business driver in the near future. The Facebook CEO is so convinced about the value of video that he quoted it to transform how the company will do business in the future. This shouldn’t actually come in as a surprise as Facebook had earlier, in 2016, tried to copy YouTube’s MO to beat the master at its own game. In light of Zuckerberg’s recent comments, there is one certainty for sure- watch your back YouTube!
In a popular study conducted recently, Facebook Inc. has emerged as the most profitable social media entity across the world. The company owns four of the top-5 social media properties that draw in the maximum active users on a monthly basis. These include, in the order of popularity- Facebook, WhatsApp, Messenger and Instagram. With analysts expecting the social media ad revenue to exceed the USD 15 billion marker in the US alone this year, Facebook is sitting pretty as the priority stakeholder and trend setter with the propensity to make the maximum profit. With Twitter’s monetization issues and Google’s problems in the social arena, who can conceivably stop Mark Zuckerberg’s juggernaut?
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