Facebook is at risk of losing a key seal of approval that gives companies confidence they are getting what they pay for when it comes to advertising with the social-media giant.
Twitter looks like the latest social media company that will enjoy a stock boost, after it reported record quarterly user growth and topped analyst sales projections when it reported its 1Q financials on Thursday morning. The company, led by CEO Jack Dorsey, added 14 million monetizable daily active users during 1Q. Its sales of $807.6 million surpassed analyst estimates of $776 million.
Facebook said it earned $4.9 billion, or $1.71 per share, in the January-March quarter. That’s more than double the $2.43, or 85 cents per share, it reported in the same period a year earlier. Revenue rose 18% to $17.74 billion from $15.08 billion.
Tweets about television are up in nearly every category from March 1 through April 15 compared with the same time last year, largely driven by the coronavirus pandemic, Nielsen found in a study, but one category stands out as a glaring exception: sports.
Snap announced Thursday that it is planning to raise up to $750 million through a private debt offering. CEO Evan Spiegel says that the “proceeds from this offering will further bolster our balance sheet which will allow Snap the flexibility to continue to invest in the long-term growth of our business, even if challenging conditions continue.”
It’s been assumed by most media analysts, media buyer and ad executive surveys, and a variety of pundits that the Big Digital platforms would be first to feel the impact of the ad recession, because digital media is generally bought on more of a “scatter” basis and tied to fewer long-term commitments. Well now there’s market-based proof. As of data available Tuesday, Facebook’s worldwide CPM fell an all-time low of $1.95, according to data analyzed by Boston-based agency Gupta Media.
Reversing course, Google said on Thursday it will begin allowing political groups to run ads related to COVID-19. The company’s move comes shortly after liberal digital ad shop DSPolitical publicly complained that Google was giving President Donald Trump “an unprecedented advantage in our upcoming elections” by banning Democratic ads relating to the outbreak, while allowing the current administration to run ads referencing the virus.
As lockdowns and stay-in-place orders continue to be extended in countries around the world, millions of people are spending their days frequenting online publications to find out the latest about the COVID-19 pandemic. That’s part of the reason Facebook has announced it will spend an additional $100 million to support the news industry during the crisis.
Kantar has just released findings of what it says is the largest-ever survey of consumers about the fast-moving pandemic, checking in with 25,000 consumers in 30 markets around the globe. Among the findings: People are doing 70% more web browsing, 63% more TV watching, and spending 61% more time on social media. WhatsApp has become increasingly more important, with an overall 40% increase in use.
The social network is straining to deal with skyrocketing usage as its 45,000 employees work from home for the first time.
More than half of all news consumption on Facebook in America is about the virus, according to an internal report.
The group’s second Facebook Watch show, Field Notes, features pandemic stories from Hearst stations in 26 markets cross the U.S.
Broadcasters including Gray Television and Cox Media Group have been beta testing the new Facebook Messenger Experience app from Social News Desk enabling users to opt in for breaking news and customized content. With 1.3 billion global Messenger users and a 50%-80% open rate, it opens a key new front to reach viewers, particularly as the coronavirus crisis escalates.
Fox News is making a return to Twitter, more than a year after going silent on the social-media platform. Now the news outlet is poised to resurface on the venue, with executives envisioning the chance to use it as a service or a means of getting information about the coronavirus outbreak to followers. Approximately 18.5 million people follow the network on Twitter.
Dave Jorgenson produces twice-daily posts geared to young audiences on nascent social video platform TikTok. In 10 months, he’s gained 400,000 subscribers there and tens of millions of views of his witty short videos, including tips on coronavirus hand washing and handshakes.
All through February and early March, the voices of doctors and nurses on social media provided a vital antidote to those of confused and complacent political leaders embodied by President Trump. Their voices carried credibility and urgency in a way the always-on crisis of cable news can’t. They fed and were fed by credible journalism. And they helped force the United States to reckon with the crisis.
None of the video advertisers who were notified about Facebook’s proposed $40 million class-action settlement over inflated video metrics have objected to the deal, class counsel says in papers filed Friday.
How three broadcast journalists are experimenting with the wildly popular but quirky platform.
Despite the previously unreported sale late last year, NBCU says it’s committed to the Snap relationship, and is producing more programming than ever for the platform.
Twitter said today that Silver Lake will make a $1 billion investment in the company. That money, along with cash on hand, is expected to be put toward a $2 billion stock buyback. Jack Dorsey remains the social media company’s CEO.
Secret labs. Magic cures. Government plots. Despite efforts by social media companies to stop it, false information about the coronavirus is proliferating around the world.
The social network follows Twitter’s lead as the list of attendees bailing on the annual Austin festivities grows, but organizers say the show will go on.
The Poynter Institute and Google News Initiative are teaming up to help three local newsrooms reach new, young audiences through engaging, shareable social video storytelling. The yearlong program, VidSpark, will culminate with a playbook that local newsrooms across the country can use to engage younger people in their communities. The three participants are Tegna’s CBS […]
A federal appeals court in California on Wednesday ruled that privately operated internet platforms are free to censor content they don’t like. Though not unexpected, the unanimous decision by the Ninth U.S. Circuit Court of Appeals in San Francisco marks the most emphatic rejection of the argument that YouTube, Twitter, Facebook and other giant tech platforms are bound by the First Amendment.
The Facebook-owned company is in talks with video producers to pay more for videos on its IGTV app, though no formal funding program is in place. The conversations come as it tests ways for video makers to make more money from IGTV, including an advertising product and revenue-sharing program similar to those available on other social media platforms.
Michael Bloomberg’s presidential campaign is hiring hundreds of workers in California for $2,500 a month to post regularly on their personal social-media accounts in support of the candidate and send text messages to their friends about him. The effort, which could cost millions of dollars, is launching ahead of California’s March 3 primary and could later be deployed nationwide.
Snapchat is not just for kids anymore. Ashley Remkus is a crime reporter for AL.com, Alabama’s media group that publishes the state’s three major newspapers. On top of covering crime and safety in the Huntsville area, Remkus is also the “Snapchat guru” for the group.
BERLIN (AP) — The German Cabinet has approved a bill that will require social media sites such as Facebook and YouTube to report certain hate speech to the police. According to the bill passed by ministers Wednesday, internet companies will have to flag far-right propaganda, graphic portrayals of violence, murder or rape threats, posts indicating […]
Despite complaints from conservatives who say left-leaning tech companies are shadow-banning on social media, DOJ Antitrust Division chief Makan Delrahim says he won’t get involved.