Following nine months of difficult repositioning that included layoffs and consolidation as Meta Platforms segued to its “year of efficiency,” CEO Mark Zuckerberg recently shared his plans for the company’s future with employees at an all-hands meeting. In a discussion that has been reported as an effort to help bolster staff morale during this challenging period, Zuckerberg explained his strategy regarding job cuts, offered insight on the tech giant’s approach to artificial intelligence, and took a swipe at Apple’s upcoming Vision Pro mixed reality headset while talking about his goals for VR and the metaverse. Continue reading Zuckerberg Shares Meta Strategy with Staff After Rocky Year

Meta Platforms previewed its in-development Twitter rival, called Project 92, for staff last week. Chief product officer Chris Cox demoed the decentralized app, which the company plans to launch through Instagram. Meta received feedback from creators and high-profile figures indicating they want “a sanely run” platform. Project 92 — also referred to internally as “P92” or “Barcelona” — bears similarities to Twitter but unlike that closed system will interoperate with other decentralized social apps like Mastodon and Bluesky. Although a specific timeline wasn’t shared, Cox reportedly said Meta plans to launch P92 “as soon as we can.” Continue reading Meta Unveils Its Upcoming Twitter Competitor for Employees

TikTok is targeting a massive four-fold increase in global e-commerce revenue this year, aiming for $20 billion in sales. The social media platform reported gross merchandise activity of $4.4 billion last year, which reflects the total sale of goods via the TikTok Shop e-commerce solution. TikTok is banking on significant growth in markets including Indonesia, where influencers live-stream shopping pitches for everything from denim jeans to lipstick. The U.S. and Europe account for a tiny portion of the projected goal, but TikTok is hoping for modest gains in those areas as well. Continue reading TikTok Is Aiming for $20 Billion in Global E-Commerce Sales

Meta Platforms has agreed to sell Giphy to Shutterstock for $53 million in net cash, winding down a yearslong legal battle with the UK Competition and Markets Authority, which ordered the divestiture. Shutterstock, which licenses photos and other image content, said Giphy adds 1.7 billion in daily mobile users and global partners that include Meta’s own Instagram, Facebook and Whatsapp in addition to Microsoft, Samsung, Twitter, TikTok, Slack and Discord. Meta acquired Giphy in 2020 for $315 million and was one year later ordered by the UK CMA to unwind the deal, citing antitrust issues. Continue reading Meta Platforms Is Selling Giphy to Shutterstock for $53 Million

Meta Platforms has been hit with a record $1.3 billion fine for violating European Union rules that prohibit transferring the data of EU citizens to other countries. Ireland’s Data Protection Commission, the agency of record in the region in which Meta was sued, said that the tech giant continues to operate outside of compliance with the EU’s General Data Protection Regulation (GDPR) after a 2020 ruling by the bloc’s highest court found that Facebook user data was being shipped to America without adequate protection from U.S. spy agencies. Continue reading Meta Is Fined $1.3 Billion for Facebook’s EU Privacy Violation

Details are emerging about the text-based Twitter competitor being developed by Meta Platforms. What is being referred to internally as “Instagram’s new text-based app for conversations” will offer a feed with text posts of up to 500 characters that are capable of attaching links, photos, and videos. The move comes as alternatives including Bluesky, Cohost, Hive, Mastodon and Substack try to gain market share by luring disaffected Twitter users to their platforms. Instagram’s entry in progress — codenamed “P92,” and alternately referred to as “Barcelona” — may soon be interoperable with all of them. Continue reading Meta Testing Decentralized Instagram App as Rival to Twitter

About 60 percent of Americans who have used Twitter in the past year report taking a break from the platform during that time, with 25 percent of them predicting they are unlikely to be using the service a year from now, according to a study by the Pew Research Center. The survey of adult Twitter users was conducted March 13-19, approximately five months after billionaire Elon Musk purchased the site in October. The findings come amidst media debates as to whether Twitter is “dying,” according to Pew, which notes some high-level celebrity defections since Musk took over the social site. Continue reading Twitter Usage Decline Could Indicate a Trend Moving Forward

Streaming platforms are the destination of choice for Gen Zers when it comes to content consumption, with mobile devices also playing a crucial role in their television viewing choices, according to a new study by analytics provider Samba TV. That inevitably raises the stock of streaming platforms with advertisers striving to reach the elusive 18-26 demographic now known as the streaming-first generation. A diverse and multicultural generation with unique values and behaviors, including frequently shopping online while viewing, Gen Z offers an opportunity for advertisers that want omniscreen outcomes. Continue reading Samba TV Report Reveals Advertiser Path to Reaching Gen Z

In the wake of Microsoft’s phenomenal success with Bing Chat powered by OpenAI, Google is restyling its search platform to be conversationally driven using artificial intelligence. It also plans to add more social media posts and short videos to its search results, a significant shift from the “10 blue links” of website results that have traditionally served as the Google Search template. At its Google I/O developer conference today, Google is expected to showcase new AI features that it will incorporate into search as part of a new project code-named “Magi.” Continue reading Google to Restyle Search with a More ‘Snackable’ AI Touch

Meta Platforms is extending immersive experiences to brands. Facebook and Instagram Reels and Facebook Stories will soon have augmented reality brand messaging, Meta announced last week at the IAB NewFronts. Advertisers like Sephora, Tiffany & Co. and others will be able to use AR filters to market on Meta’s social platforms to reach Gen Z users. Meta is rolling out additional improvements, including third-party measurement partners for campaigns on Reels ads. Meta had previously made AR ads available in the Facebook and Instagram feeds and in Instagram Stories with what the company says is great success. Continue reading Meta Rolls Out AR Advertising for Facebook, Instagram Reels

Amazon is rolling out its Inspire shopping feed to all U.S. customers. The short-form video and photo feed, which has drawn comparisons to TikTok, lets customers explore products while shopping from content created by influencers and brands. After logging in to the Amazon Shopping app, the Inspire light bulb icon will connect users to a menu of more than 20 categories, from makeup and skin care to pets, gaming, travel, health and more. Users can vertically scroll the content feed and double-tap on the screen to create “likes” for the content displayed. Continue reading Amazon Expands Its Release of ‘Inspire’ Video Shopping App

TikTok’s new Pulse Premiere will allow publishers to sell ads alongside their posts and keep half the revenue, a move to engage institutional creators in addition to the influencers and app-savvy individuals that have been the video-sharing platform’s mainstay. An offshoot of TikTok’s Pulse program revenue-sharing plan, available for the top 4 percent of creators’ posts, Pulse Premiere permits ads against all posts from publishers including Condé Nast, NBCUniversal and Vox Media. Advertisers have embraced TikTok to reach Gen Z. Sensor Tower predicts the ByteDance-owned company will secure 2.5 percent of the domestic digital ad market in 2023. Continue reading TikTok Pulse Premiere Gives Publishers a 50 Percent Ad Cut

YouTube is branding itself to advertisers as the “home of Gen Z.” At the streaming platform’s NewFronts event at parent Google’s Pier 57 complex in lower Manhattan, the message was plastered across numerous signs and in videos. The company had creator Jon Youshaei, a former Instagram product marketer, deliver a presentation entitled “What Matters to Gen-Z” at the Monday event. Apparently Gen Z likes quick hits, making them a natural audience for commercials. At the NewFronts presentation, YouTube explained it is expanding its AI-driven video reach campaigns to include YouTube Shorts. Continue reading YouTube Debuts Ad Tech at Gen Z-Themed NewFronts Event

Jack Dorsey’s alternative to Twitter called Bluesky is taking off. Last week, Bluesky had its biggest single-day jump in new sign-ups. Still in beta, the platform has only a few thousand users, but seems to have the right ones. High-profile socialistas including Representative Alexandria Ocasio-Cortez (D-New York) model Chrissy Teigen and influencer Dril (Paul Dochney) have joined, and thousands of others are waitlisted. Bluesky began rolling out to iOS devices in February and added Android last month. The app offers some of the same features as Twitter, including the ability to post short text and photo updates, replies and shares. Continue reading Dorsey’s Bluesky Heats Up with Well-Timed Influencer Invites

More than 3 million users are now using the $3.99-per-month Snapchat+ subscription service that launched last June. The premium offering got a boost when the company added early access to its AI chatbot, called My AI. Snap will soon make My AI available free to Snapchat’s 750 million monthly users, the company announced Wednesday at its annual partner summit in Santa Monica, California. Snap CEO Evan Spiegel told attendees the company is targeting 10 million users as a “medium-term goal” for Snapchat+, which in addition to the U.S. is available in the UK, Germany and United Arab Emirates. Continue reading ‘My AI’ Will Be Free for All as Snapchat+ Hits 3M Paying Subs