Facebook and Snapchat are relying more on professionally created content as personal sharing on social media continues to decline.
Why it matters: The pivot away from the stuff that made these companies what they are could provide a buffer against growing regulatory pressure.
- At the same time, it could add to the burden and headaches of content moderation (exhibit A: Spotify’s Joe Rogan dilemma).
Driving the news: Facebook parent company Meta set a record for the biggest one-day drop in market value in stock market history this week after it reported its first-ever decline in daily active users.
- Snap, on the other hand, crushed it last quarter — and investors sent the stock soaring more than 60% after Thursday’s results.
State of play: Public sharing of personal posts had already started to move more toward private messaging pre-pandemic.
- People shared even less of their personal lives when the pandemic sapped them of exciting or interesting things to share.
- To maintain engagement, Facebook and Snapchat plugged those gaps with content created consistently by a smaller group of users or by professionals.
By the numbers: Snap added 160 new international channels for its premium content platform, Axios’ Sara Fischer reported.
- The company said on its earnings call that it’s paid more than 12,000 people to create content for its Spotlight feature.
What they’re saying: Meta CEO Mark Zuckerberg told investors the company is “building more great creative and monetization tools for creators.“
What to watch: As more platforms rely on content they commission, the more responsibility they will be expected to assume for what creators do.
Facebook and Snapchat are relying more on professionally created content as personal sharing on social media continues to decline.Why it matters: The pivot away from the stuff that made these companies what they are could provide a buffer against growing regulatory pressure.At the same time, it could add to the burden and headaches of content moderation (exhibit A: Spotify’s Joe Rogan dilemma).Driving the news: Facebook parent company Meta set a record for the biggest one-day drop in market value in stock market history this week after it reported its first-ever decline in daily active users.Snap, on the other hand, crushed it last quarter — and investors sent the stock soaring more than 60% after Thursday’s results.State of play: Public sharing of personal posts had already started to move more toward private messaging pre-pandemic. People shared even less of their personal lives when the pandemic sapped them of exciting or interesting things to share.To maintain engagement, Facebook and Snapchat plugged those gaps with content created consistently by a smaller group of users or by professionals.By the numbers: Snap added 160 new international channels for its premium content platform, Axios’ Sara Fischer reported.The company said on its earnings call that it’s paid more than 12,000 people to create content for its Spotlight feature.What they’re saying: Meta CEO Mark Zuckerberg told investors the company is “building more great creative and monetization tools for creators.”What to watch: As more platforms rely on content they commission, the more responsibility they will be expected to assume for what creators do.