Welcome to 3MZ’s monthly social updates. In these posts, our digital team will fill you in on what’s been happening in the world of social media over the past month. Here are our updates for July:
Instagram launches IGTV
Instagram is going from strength to strength at the minute, and the platform celebrated hitting a huge one billion global users last month at a swanky event in San Francisco. The company also announced their most exciting new feature yet – IGTV. Users and creators will now be able to upload and watch long form, vertical video, effectively putting Instagram in a place to compete head-on with YouTube.
IGTV was initially accessible from a standalone app behind a button on the home screen. To increase viewings, the platform is experimenting by showcasing a carousel of IGTV content underneath the Stories tray in the main Instagram feed.
Viewers can swipe through a variety of longer-form videos or swipe up to visit a Browse tab of personally recommended videos, popular videos, creators they’re following and the option to continue watching previously started videos. Users will also get callouts from the IGTV button alerting them to new content.
IGTV is built for how people actually use their phones. This means all videos are full screen, vertical, and fast loading. It’s the ideal space for influencers and digital creators – and for now, there are no ads – although Instagram CEO Kevin Systrom has already admitted that it is ‘obviously a very reasonable place for ads to end up.’
Will IGTV eventually take over YouTube? Watch this space …
Facebook’s privacy scandal caused a big drop in shares
Facebook has been in the bad books over recent months, and it seems that their oversharing had a knock-on effect to their own shares. Their Q2 earnings report showed the company lost £120 billion in stock market value, resulting in their slowest ever growth rate.
Mark Zuckerburg confirmed that the platform lost over one million European users since GDPR came into effect, but played it cool, insisting that a slowdown in growth was to be expected due to increased in investment in safety and security. He also stated that Facebook will be making big investments in video content to boost users and revenue – let’s see if this helps them make a swift recovery.
Google launches YouTube Music
Watch this space, indeed, because YouTube may already be preparing for IGTV’s takeover!
For years, YouTube’s dirty little secret has been that everyone simply uses it to play music (via music videos) at parties. Finally, Google have stopped hiding from this fact and launched a new music streaming service – YouTube Music. It’s not all about competing with Spotify (an increasingly major player in digital advertising), as YouTube Music promises to combine the joys of audio and video, bringing you the music you love and the music videos that go with it.
From a social media perspective, it’s interesting to see YouTube begin to distance itself from the traditional networks such as Facebook and Twitter. They clearly see their role as having moved from communities engaging with one another through videos and comments sections and likes, to a source of on-demand content – a more ‘lean back’ experience than the interaction-based demands of social media.
Facebook Ads Manager upgrades its creative tools
In another step towards the platform becoming an all-in-one solution for mobile advertising, Facebook has given the Ads Manager app a well-needed revamp. The app has been around since 2015, but until now advertisers have had to create image-based content outside of the app, save it to their phone and then upload it to Ads Manager (AKA a massive faff). The app has now released a suite of creative tools, including text overlay, cropping, image filters, templates and logos, meaning that advertisers can now easily build ad content from a mobile device. It's another step in the platform becoming an all-in-one solution for mobile advertising. Easy-peasy.