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- 📱Social media disruption
📱Social media disruption
Your 5 Digital Marketing must-knows this week
Reddit founder to invest $100m into a decentralized social media platform
“We’re earmarking $50m to invest in the next wave of social, built on Solana."
Ohanian later confirmed that in fact $100m would be invested through his venture fund, seven seven six.
The investment will be made into a new social media platform (not Reddit).
The future of social is web3.
@alexisohanian, @sevensevensix, and Solana Ventures are committing $50M — scratch that, $100M! — to fund the future of decentralized social communities. #SolanaBreakpoint#BreakpointLisbon
— Solana (@solana)
Nov 9, 2021
Takeaway: Decentralizing social media could significantly disrupt the industry. The creators on social media apps today, generate billions for the platforms by producing content and building followings. A decentralized platform could reward the creators for their contributions on the platform more equitably. The platform would also not be reliant on generating ad revenue to maximize profits for a public company.
TikTok launches influencer platform
TikTok has launched a self-serve platform to match-make between advertisers and TikTok creators.
Advertisers enter the details of their campaign, which could include storytelling, a product intro, or a screen recording.
Registered creators are notified and can accept the project and communicate directly with the advertiser.
The pilot is now open for brands to register.
Takeaway: Given how short TikTok videos are, typical pre-roll ads are not a natural fit. This platform is a way for TikTok to retain talent, as YouTube (Shorts) and Meta (Reels) are looking to entice TikTok stars. For advertisers, working with creators to produce more native-style creative, should lead to improved results.
Twitter introduces an ad-free subscription option
'Twitter Blue' costs users $2.99 per month and offers the ability to read news articles ad-free.
Similar to Google's AMP and Meta's Instant Articles, the content is designed to load quickly. One key difference is that Twitter's version will direct users to the publisher's website to read the article.
The 300+ publishers include The Atlantic, BuzzFeed, and Rolling Stone.
Twitter said on Tuesday that it would give users access to ad-free articles from The Washington Post, Reuters, BuzzFeed and other publications through its subscription service, called Twitter Blue, for $3 per month. nyti.ms/3CWYzcZ
— The New York Times (@nytimes)
Nov 10, 2021
Takeaway: Typically social media companies are at odds with publishers. Usually each relies on keeping the user on their platform to generate ad revenue. This model works for users who get fast loading content. While Twitter will share an undisclosed portion of revenue with the publishers.
The ubiquitous follow button is coming to Amazon. Plus more new features:
Brand Follow - Offers from brands that customers "follow" will be displayed on the Amazon homepage.
Twitch Display ads - Sponsored Display ads will also be served within Twitch live streams, where it claims to have 30m, active users.
Brand Lift - Advertisers who want to quantify the impact of their brand activity can launch surveys. For example, survey respondents can indicate whether they are aware of the advertiser, or likely to buy from the advertiser.
At Amazon Advertising's annual UnBoxed event on Oct. 26, the ecommerce giant announced a slew of new features and tools it said will enhance brands' ability to tell their stories and improve customer relationships. Experts agree advertisers are likely to…
— Eric Porat (@ericporat)
Oct 26, 2021
Takeaway: Amazon reported $8 billion in ad revenue in Q3 earnings. That is a 50% increase year over year. Amazon is investing in creating more features, catering for brand advertising.
#5 Meta to remove ad targeting relating to thousands of sensitive categories
Meta will stop allowing ad targeting based on certain interactions on Meta-owned platforms.
Interactions related to "health, race or ethnicity, political affiliation, religion, and sexual orientation", will be no longer be used to create interests that can be used for advertising targeting.
The changes will come into effect on January 19, 2022.
Facebook will no longer let advertisers target people based on "sensitive" topics like health, race, political affiliation, religion and sexual orientation — an effort to prevent targeting that discriminates against users.
— NPR (@NPR)
Nov 10, 2021
Takeaway: Meta has taken a small step forward by acting on concerns of its customers, policymakers and some advertisers. Although, it is unlikely to address the core concerns which led to the Facebook ads boycott of companies such as Patagonia, who recently reaffirmed their stance.
Snippets for the road
Spotify overtakes Apple as top US podcast platform and expands into audiobooks with new acquisition
Google organic results will penalize desktop pop-ups
Amazon will accept Venmo payments
LinkedIn launches freelancer marketplace
Hootsuite releases new social trends report
🏁 That does it for this week. Have a great weekend!