Social commerce platform Shopify is coming to Instagram and Facebook Shops, enabling users to complete purchases via Shop Pay, which has 60 million global users. Shop Pay stores credit card and shipping information to speed online checkout, Until now, it has only been available on Shopify clients’ e-commerce stores. Shop Pay also lets users track packages or pay in installments. Facebook currently also offers PayPal, which has 377 million active accounts, including 16 million added in the most recent quarter. Continue reading Shopify Shop Pay to Roll Out on Instagram, Facebook Shops

The European Data Protection Supervisor (EDPS) Wojciech Wiewiórowski, the European Union’s top privacy regulator, called for a complete ban on targeted advertising. That’s a harsher recommendation than that of the European Commission, which simply suggested increased transparency on political ads and limits to micro-targeting and psychological profiling. Wiewiorówski’s proposal was in response to a request for EU lawmaker consultation on the Commission’s Digital Services Act (DSA) introduced in December. Continue reading Top EU Privacy Regulator Calls for Total Ban on Targeted Ads

Since Twitter banned former president Trump, the company said daily users rose to 192 million from Q3’s 187 million, including one million in the U.S. In January, the social platform gained more daily users than the average month in the last four years. Twitter chief exec Jack Dorsey revealed that 80 percent of its user base is outside the U.S., adding that it is “not dependent upon just news and politics.” The company is looking to expand and continue development of a decentralized social network. With regard to banning Trump, chief finance officer Ned Segal said the decision was well received by advertisers. Continue reading Twitter Experiences Subscriber Growth and Plans Expansion

The majority of Twitter’s revenue comes from targeted advertising, but the company is now developing a subscription product that it has considered for years to create a new revenue stream. According to eMarketer, Twitter’s portion of the global digital ad market remains at 0.8 percent and has grown at a slower pace than those of Facebook and Snap. Its U.S. user base has also leveled off. The COVID-19 pandemic and pressure from investors to drive growth are other factors influencing Twitter’s decision to move forward. Continue reading Twitter Considers New Strategies for More Revenue Streams

Community-based social site Reddit raised $250+ million in a new round of funding, doubling its valuation to $6 billion from the $3 billion it was valued after a February 2019 round. Led by Vy Capital, the latest funding included Andreessen Horowitz, Sequoia Capital and Tencent Holdings, all previous investors. The social media company, launched in 2005, hosts topic-based message boards, including WallStreetBets, the message board that recently encouraged amateur investors to drive up the stock price of companies shorted by Wall Street investors. Continue reading Reddit Receives New Funding and Doubles Valuation to $6B

In response to Apple’s changes that require users’ consent to track their behavior, Facebook — which claims the privacy change will make targeted advertising too difficult — has responded with its own solution. The social media company plans to introduce an in-app prompt that asks users to give permission to use data collected from apps and third-party websites and provides information on how the data is used for personalized ads. That screen will appear with the Apple prompt detailing its new privacy policy. Continue reading Facebook Parries Apple’s Privacy Policy with Its Own Prompt

Spotify Technology SA posted unexpectedly strong subscription growth during Q4 2020, to 345 million monthly active users, up 27 percent from a year earlier. Paid subscriptions grew 24 percent above the same period last year to 155 million. But average revenue per subscriber fell 8 percent to €4.26 ($5.13) due to discounted plans and lower rates in India and Russia. The company’s 2021 outlook takes into account that such growth could diminish in 2021. Shares of the company fell 9 percent to $315. Continue reading Spotify Reports Q4 Subscriber Growth, Focuses on Podcasts

Amazon’s robust holiday shopping quarter garnered $125.5 billion in sales and net income of $7.2 billion, the first time the company reached $100+ billion in quarterly revenue, and only days after Apple achieved the same milestone. Amazon amped up sales when it moved its two-day Prime Day shopping event from summer to October. The company’s overall 2020 sales hit $386.1 billion, a 38-percent year-over-year jump. According to analysts, e-commerce grew about 50 percent during the last year due to the coronavirus pandemic. Continue reading Amazon Exceeds $100 Billion in Quarterly Sales for First Time

Due largely to robust online holiday shopping, Google’s parent company Alphabet reached a record-breaking $56.9 billion in revenue for Q4, up from $43.2 billion in the same quarter last year. The numbers represent an ongoing recovery in ad spending, which was hard hit in early 2020. FactSet reports that analysts predicted the company would post $52.7 billion in revenue, including $42.3 billion from advertising. Chief financial officer Ruth Porat said Google Search and YouTube led the positive performance numbers. Continue reading Google Breaks Revenue Records, Boosts Cloud Investments

When Facebook launched Groups in 2019, it was intended to be, per chief executive Mark Zuckerberg, the “heart of the app.” This last August, however, its own data scientists warned about “blatant misinformation and calls to violence” in the site’s top “civic” Groups. Facebook was aware of the problems for years but accelerated plans to make actual changes after rioters broke into and vandalized the U.S. Capitol on January 6. The Groups in question, dedicated to politics, together reached “hundreds of millions of users.” Continue reading Facebook Plans Changes to Groups, Controls for Advertisers

Facebook chief executive Mark Zuckerberg has identified Apple as one of the company’s biggest rivals, even as it posted record-breaking revenue and profit in Q4. The two companies have clashed over data collection, app-store fees and, most recently, Apple’s plan to enable users to opt-out of data collection by third-party apps. That disadvantages Facebook, which has become an online advertising giant. Zuckerberg noted that Apple’s move will interfere with Facebook’s ability to target ads to its 1.85 billion daily users. Continue reading Zuckerberg Anticipates Broader Competition with Rival Apple

The demand for upgraded televisions and streaming content has increased significantly during the coronavirus pandemic. Nielsen reports that streaming services currently account for a quarter of all TV viewing in North America and, according to CES producer the Consumer Technology Association (CTA), consumers upgrading their TVs led to a shipment record for 2020, a trend expected to continue this year. In addition, an Ampere study indicates that the average U.S. household subscribes to four streaming services. CES 2021 showcased a compelling array of TVs and related tech, including 8K, QNED, MicroLED, MiniLED, NanoCell TVs, ATSC 3.0 (NextGen TV), Filmmaker Mode, transparent displays, enhanced game support and more. Continue reading CES: TV Technologies Takes Center Stage at Annual Confab

Microsoft reported its fiscal Q2 net income rose 30+ percent to $15.5 billion, the result of COVID-19-driven remote working, increased video game playing and cloud computing. The company has also seen increased sales of its Surface laptops, which facilitate remote working and learning. Chief executive Satya Nadella has prioritized Microsoft Teams workplace-collaboration software, dubbing this last year as “the dawn of a second wave of digital transformation sweeping every company and every industry.” Continue reading Cloud Computing, Gaming and Laptops Drive Microsoft Sales

Google is replacing third-party cookies on its Chrome web browser with a more privacy-compliant option, creating an uproar among advertisers and others that use them to track consumers’ browsing across websites. Google stated it has had positive test results for its technology that analyzes browsing habits without sending sensitive data to central servers. In Q2 of this year, the company is on track for “open outside testing of ad buys” using the new technology. Google previously said it would phase out cookies in 2022. Continue reading Google Tests New Technology to Replace Third-Party Cookies

Australia is introducing a law that would make Google, Facebook and possibly other tech companies pay news publishers for their content. In response, Google threatened to remove its search engine from the country, fearing the law would set a dangerous precedent. Australian prime minister Scott Morrison said the country’s lawmakers will not respond to threats. News makes up 12.5 percent of Google searches there. In France, meanwhile, Google inked a deal with that country’s media publishers to negotiate individual license agreements. Continue reading Australia Proposes Google, Facebook Pay for News Content