Happy Mira Awards Eve! This is a big week for our team: Pattern89 is a finalist for New Startup of the Year, and this writer served as a judge for the Company Culture of the Year award. Of course, no matter who wins, we’re happy and proud to be a part of the growing Indianapolis tech community. Wish us luck!
Back to business: there’s a lot going on in social media land this week. Twitter’s posting profits, Snapchat’s going back to the drawing board on UI design, and Facebook had a surprisingly good Q1.
It’s been a rocky road toward profitability, but Twitter’s finally on it: VentureBeat reports that the social channel’s Q1 is its second profitable quarter in a row. Twitter also saw a bump of user growth, accounting for 6 million new tweeters.
There are a few reasons Twitter’s posting gains, including a change to its stock-based compensation. But the increase in users is encouraging, even if ad revenue growth is slow; if those 6 million users become engaged members of the Twittersphere, ad revenue growth could help push Twitter over the line for a third quarter.
Last year’s UI overhaul got mixed reviews, so Snapchat is taking a second shot at it. Recode reports that the social channel is testing a move of user-generated Stories to the Discover page, putting them in competition with branded content. The ostensible goal: to boost Stories views.
Snap calls this small change a way they’re listening to their community, but this could be a small step toward larger, long-term changes. If ad revenue is the issue, Snap might be hoping the move could boost branded Stories views. If that’s what the community is asking for, it’s a smart change–but if not, things could get even rockier for the social channel.
Facebook’s Surprisingly Great Q1
Facebook’s been a hot topic almost daily since the Cambridge Analytica news broke, but that hasn’t had much of an impact on user activity or ad revenue. Marketing Dive reports the social channel posted strong first-quarter ad revenue, with 50% year-over-year increase from Q1 of 2017.
Brands concerned about Facebook’s viability as a paid social channel can rest easy. Not only is Facebook still the top channel for paid social, our VP of product and partnerships Jeff Cunning reminded everyone that Facebook advertising is still totally safe. It’s good news for brands who use Facebook as a primary ad channel, and a reminder of how powerful Facebook has become.
What’s the news that’s got you buzzing this week? And will my team see you at the Mira Awards this weekend? Drop me a line at email@example.com and let’s chat about it.