This week, Facebook’s Q3 results come in strong, Twitter’s CEO takes a stand against political ads and Mixer matches Twitch’s subscription price.
Facebook Demonstrates Strong Growth In Q3
According to TechCrunch, Facebook users increased two percent to 2.45 billion.
Why it matters: Despite public backlash and increased competition from Snapchat, Facebook has managed to stay sticky.
The details: Facebook reached 2.45 billion monthly users in Q3 compared to 2.41 billion in the quarter prior. It now has 1.62 billion daily active users and $18 billion of revenue, up 29 percent year-over-year, with $2.12 earnings per share (EPS). The company gained 2 million users in each of its core US, Canada and Europe markets.
Twitter Stops All Political Advertising Globally
Why it matters: Twitter’s decision to ban political ads is in stark contrast to the support Facebook has expressed for politicians’ free speech.
The details: Dorsey explained, “A political message earns reach when people decide to follow an account or retweet. Paying for reach removes that decision, forcing highly optimized and targeted political messages on people. We believe this decision should not be compromised by money.”
Mixer Matches Twitch’s Subscription Price
The Microsoft-owned platform Mixer is going after Twitch by changing its subscription pricing from $5.99 to $4.99.
Why it matters: The change in price comes after Twitch’s top streamers, such as Ninja and KingGothalion, moved to Mixer. The lower rate makes it more appealing for other pro Twitch streamers to make the move to Mixer.
The details: Mixer’s new price is the same amount as Twitch’s initial level pricing. Subscribers who auto renew will see the lower rate and those who subscribed within the last week can even request an adjustment.
Facebook Launches Preventative Medicine Tool For Users
Why it matters: The issue of privacy caused Facebook to scale back its efforts in health, but the tech giant is moving forward again even though consumers have doubts. A year ago, a consumer filed a complaint with the Federal Trade Commission accusing Facebook of improperly protecting information about users of a group that discussed personal medical conditions with the expectation of privacy. A recent study also shows that several mental health apps have been sending data to Facebook for analytics or advertising purposes. So it’s unclear what steps Facebook has taken to address privacy concerns.
The details: For the new health initiative, Facebook is teaming with organizations such as the American Cancer Society and Centers for Disease Control and Prevention to develop a series of digital prompts that encourage users to get a standard battery of tests. To start, the company’s focus will be the top two leading causes of death in the US—heart disease and cancer. Facebook’s partner organizations will recommend checkups to users based on age and gender via the mobile app or desktop version. Additional features of the tool include completed marks, reminders for future tests and an option to tell their friends about the tool. Facebook said it will not collect the results of any test.
Gen Z Favor Snapchat, Twitch And Wish
Why it matters: Gen Z collectively spend $44 billion a year and influence another $600 billion in household purchases. Marketers have more incentive to shift ad dollars to these platforms.
The details: The top-ranking apps among Gen Z are Snapchat, Twitch and Wish. Wish, the ecommerce platform that connects buyers directly with sellers is a favorite of the group because its discounted products appeal to Gen Z’s budget-savvy habits. Given social media has made them more guarded, Gen Z are more likely to use Snapchat because it deletes messages and stories after 24 hours.
Snapchat Introduces 3D Paint Feature For Augmented Reality Snaps
Why it matters: The 3D paint feature is part of Snapchat’s growing AR investment. In the last few months alone, the company raised $1 billion in short-term debt as part of its AR strategy and launched dual-camera spectacles capable of creating 3D AR content.
The details: 3D Paint is available on iOS devices initially and users can access it via the “AR Bar,” the app’s dedicated space for creating and browsing AR filters. Users can manually draw visuals over their faces through the selfie camera.
FTC Rules That Selling Likes And Followers Is Illegal
According to Social Media Today, the case involves a Florida businessman who sold social engagement to celebrities.
Why it matters: The case sets new guidelines for potential legal action against sellers of fake social media engagement. Facebook has already moved ahead with legal action against several fake engagement providers, even extending the push to those selling fake likes in China.
The details: The FTC recently fined Florida businessman German Calas, Jr. $2.5 million for selling likes and followers to celebrities, under a business Calas led called Devumi. A New York Times investigation found that Devumi drew on an estimated stock of at least 3.5 million automated accounts, each sold many times over, helping the company generate $15 million in revenue. Earlier this year, Devumi agreed to a $50,000 settlement. The FTC says the additional $2.5 million will be suspended when Calas has paid $250,000. In a second case, the FTC issued a warning to skincare brand Sunday Riley whose founder allegedly wrote fake reviews about the company’s products via Sephora’s site and ordered employees to do the same.
Editor’s Note: Our weekly social media news post is updated daily. This installment will be updated until Friday, November 1. Have a news tip? We’re looking for changes to and news surrounding social media platforms as they relate to marketing. Let us know at email@example.com.