The Post #4 – What’s Happening on Social
We are back with the fourth edition of our monthly social platform update.
Lockdowns are easing throughout the world. We are getting back to some sort of normalcy which has had an impact on our online and offline behaviors. The social media giants continue to roll out new features, key updates to keep up with these ever-changing media consumption in play here. We are eager to tell you all about it. Let’s go!
Facebook expands its Monetisation program
The change comes as Facebook sees major uplift in video viewing amid the COVID-19 lockdowns. Below are the latest updates for creators to monetize their video content:
Ads in Short-form Video – Facebook says that creators will now be able to monetize 60-180 second videos with image and post-roll ads.
Ads for Live Video – Facebook is also working on new ad formats for live-streams, including mid-roll ads which play in the main screen while the stream continues in a smaller window.
Facebook is shutting down Lasso, it’s TikTok clone
Facebook’s attempt at creating a rival to TikTok, an app called Lasso — is officially coming to an end.
Users of Lasso were informed last week that the app would be shutting down July 10, just less than two years since Facebook first launched it in the US in November 2018. Despite Lasso’s failure, Facebook already has a second TikTok clone in the making. A video feature on Instagram called Reels.
Reels, which is placed inside Instagram Stories as a format option, first rolled out to users in Brazil in November and will be soon expanding in other markets in the coming months.
TikTok rolls out its ad platform globally
After a couple of years of waiting, TikTok has announced they are rolling out their self-serve advertising platform globally. The platform will give advertisers access to Tiktok’s tools for creative, targeting, and auction campaigns.
TikTok’s fastest-growing user base is 25-44-year-olds with disposable income, representing the group media buyers used to rely on Facebook for most.
Instagrams new advertiser options and rolls out pin post comments
Brands and social media advertisers no longer need a link to their ads on Instagram to their Facebook page. What this means is that brands whose priority audience is not on Facebook can now focus their activity solely where their core engaged users are, namely Instagram.
After Instagram first announced that it was testing the option back in May, the platform has the last week confirmed that all users can now pin up to three comments within their post-interaction streams.
“This means you can now pin a few comments to the top of your feed post. By highlighting positive comments, you can better manage the tone of the conversation.” Vishal Shah, VP of Product, Instagram.
Snapchat Will Now Let Brands Have Their Own Profiles
For the first time, brands will have their own profiles on Snapchat. The social platform will beta test the feature with 30 brands before offering it to all businesses, it hopes, by the end of the year.
Google’s new experiment is Shoploop, a mobile video shopping platform
Google is testing a video shopping platform, Shoploop, to help consumers spot a product, get expert reviews and buy, all in a single platform.
Shoploop introduces consumers to new products in under 90 seconds through videos. Google claims that the shopping experience on Shoploop is more interactive than buying on other e-commerce sites where one can just scroll through images, titles and descriptions.
More than half of the world’s total population now uses social media
For the first time, more than half of the world’s total population now uses social media. 3.96 billion people use social media today, accounting for roughly 51 percent of the global population.
Spotify now supports video podcasts
Spotify now supports video podcasts, starting with a handful of shows that can be viewed by most free and premium users. The company announced the news today, saying that all users where podcasts are supported will be able to not only listen to these shows but also watch them, both on desktop and mobile.
Owais Tambe – Paid Media Lead, Wilderness Agency