4 Developments in the Business of Social Media

A lot has changed this quarter in the world of social media but we think these four introductions deserve honorable mention:

The NYTimes Joins Snapchat Discover

In seeing the most respected investigative publisher join Snapchat's ad-supported channel, publishers the world over are on a hiring spree to replicate The NYT's move to Snapchat Discover. Snapchat launched Discover two years ago as a tab for long-form content and journalism beyond social media. In a world where Facebook's Instant Articles feature is largely viewed as a boon to the industry, Snapchat's Discover tab offers publishers the option of revenue sharing.

Facebook Upends Snapchat's IPO

Within the month of announcing its plan for an IPO, Snapchat saw a hit in its user engagement numbers as Facebook rolled out a copy of its stories feature. Investor confidence was also shaken by the emergence of allegations that its numbers are off. We don't expect the pain to last as the same revelations on Facebook's numbers did little to dissuade investors and advertisers.

Combating Misleading and/or Fake News

It's always been around and in some cases, it has been profitable, by either flagrantly making up a story or using click bait in the headlines, fake news is nothing new. But since losing the election, liberal media has entered a sand storm decrying fake news as one of the tools that swayed the outcome. The tech industry, largely instilled with liberal values, has chosen sides with Facebook and Google tackling the issue head on. Facebook will be revising its social media trending feature and aim to provide users the sources of publisher's news. Google, on the other hand, has banished over 200 publishers from its AdSense network for the crime of creating and publishing fake news. Snapchat also stepped up by penalizing content creators that promise content in the headline but redirect to unrelated sites.

Reviving Twitter's Use Experience

We've already talked about why no one is buying Twitter anytime soon, despite all the presidential attention it's getting. The social media company is doing its best to roll out relevant changes in its usability. The latest of which is a switch from "Moments" tab to an Explore tab instead. Featuring trending topics and live video, the tab will be curated by Twitter's editors. In a world of rebates focused digital media planning, this may not be enough for Twitter to get back on the horse. Bringing back Jack Dorsey gave the company credibility, but robbing him of executive power has not been. It remains to be seen how digital planners view the change.