Social Media Trends — 5/27/22

space150 | 5/27/2022

Updates Ahead: A Look Into Platform Updates and News

"Not a great day for Snapchat."
Snapchat reported lower-than-expected Q1 earnings, resulting in shares dropping 41%. The culprit? A massive hit to ad revenue due to Apple privacy changes in iOS among other global crises. It's not just a bad day for Snap, it's a bad day for the industry. As targeting abilities decline and marketing dollars are spent elsewhere, it becomes increasingly important for brands to invest in strong creative, first-party platform strategies and influencer marketing to reach audiences.

Tiktok is adding "twitch like" subscribers to their LIVE content
Tiktok is looking to compete with the YouTubes and twitches of the world by launching a beta subscriptions program that would allow creators to monetize their influence and communicate with their subscribers in real-time. Subscription-based communities provide a new opportunity for brands to reach new audiences without relying on targeted ads.

Instagram to add video reactions in Reels
In another attempt to align themselves with TikTok, Instagram is now testing a feature that would prompt users to 'create a reaction video'. This feature is similar to the 'remix' (duet) that Instagram already offers. Instagram's copycat mentality comes from the idea that they don't need to be superior, only good enough to keep users on their app. They believe offering a similar feature may keep users from downloading TikTok in order to chase the latest fad.

TikTok vs. the Music Industry
Artists are speaking up against being "forced" to create content for the platform, going so far as to post complaints about their labels. Popstar Hasley's latest Tiktok saying: "Everything is marketing. And they are doing this to every artist these days…I just want to release music, man. And I deserve better tbh. I'm tired."Tiktok and music have always been linked (smaller artists have seen success using the platform to boost their following), but the major labels are now starting to "strategically deploy the app for their own benefit". It's these forced viral moments that are rubbing artists the wrong way.

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