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Study finds half of Americans get news on social media, but percentage has dropped

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A new report from Pew Research finds that around a third of U.S. adults continue to get their news regularly from Facebook, though the exact percentage has slipped from 36% in 2020 to 31% in 2021. This drop reflects an overall slight decline in the number of Americans who say they get their news from any social media platform — a percentage that also fell by 5 percentage points year-over-year, going from 53% in 2020 to a little less than 48%, Pew’s study found.

By definition, “regularly” here means the survey respondents said they get their news either “often” or “sometimes,” as opposed to “rarely,” “never” or “don’t get digital news.”

The change comes at a time when tech companies have come under heavy scrutiny for allowing misinformation to spread across their platforms, Pew notes. That criticism has ramped up over the course of the pandemic, leading to vaccine hesitancy and refusal, which in turn has led to worsened health outcomes for many Americans who consumed the misleading information.

Despite these issues, the percentage of Americans who regularly get their news from various social media sites hasn’t changed too much over the past year, demonstrating how much a part of people’s daily news habits these sites have become.

Image Credits: Pew Research

In addition to the one-third of U.S. adults who regularly get their news on Facebook, 22% say they regularly get news on YouTube. Twitter and Instagram are regular news sources for 13% and 11% of Americans, respectively.

However, many of the sites have seen small declines as a regular source of news among their own users, says Pew. This is a different measurement compared with the much smaller percentage of U.S. adults who use the sites for news, as it speaks to how the sites’ own user bases may perceive them. In a way, it’s a measurement of the shifting news consumption behaviors of the often younger social media user, more specifically.

Today, 55% of Twitter users regularly get news from its platform, compared with 59% last year. Meanwhile, Reddit users’ use of the site for news dropped from 42% to 39% in 2021. YouTube fell from 32% to 30%, and Snapchat fell from 19% to 16%. Instagram is roughly the same, at 28% in 2020 to 27% in 2021.

Only one social media platform grew as a news source during this time: TikTok.

In 2020, 22% of the short-form video platform’s users said they regularly got their news there, compared with an increased 29% in 2021.

Overall, though, most of these sites have very little traction with the wider adult population in the U.S. Fewer than 1 in 10 Americans regularly get their news from Reddit (7%), TikTok (6%), LinkedIn (4%), Snapchat (4%), WhatsApp (3%) or Twitch (1%).

Image Credits: Pew Research

There are demographic differences between who uses which sites, as well.

White adults tend to turn to Facebook and Reddit for news (60% and 54%, respectively). Black and Hispanic adults make up significant proportions of the regular news consumers on Instagram (20% and 33%, respectively.) Younger adults tend to turn to Snapchat and TikTok, while the majority of news consumers on LinkedIn have four-year college degrees.

Of course, Pew’s latest survey, conducted from July 26 to August 8, 2021, is based on self-reported data. That means people’s answers are based on how the users perceive their own usage of these various sites for newsgathering. This can produce different results compared with real-world measurements of how often users visited the sites to read news. Some users may underestimate their usage and others may overestimate it.

People may also not fully understand the ramifications of reading news on social media, where headlines and posts are often molded into inflammatory clickbait in order to entice engagement in the form of reactions and comments. This, in turn, may encourage strong reactions — but not necessarily from those worth listening to. In recent Pew studies, it found that social media news consumers tended to be less knowledgeable about the facts on key news topics, like elections or COVID-19. And social media consumers were more frequently exposed to fringe conspiracies (which is pretty apparent to anyone reading the comments!).

For the current study, the full sample size was 11,178 respondents, and the margin of sampling error was plus or minus 1.4 percentage points.

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Where Will Meta Stock Be in 1 Year?

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Meta Platforms (META -3.08%) had an awful 2022. Revenue growth stalled at just the wrong time for the social media business, leading to collapsing earnings in the nine months that ended in late September. The company will close out 2022 with its Q4 earnings announcement in early February that’s expected to show a 3% sales drop.

Wall Street isn’t optimistic about the year ahead, either. Most Wall Street pros forecast that revenue will rise in the low-single-digit-percentage range as annual earnings decline for a second straight year.

Let’s look behind those headline projections for clues to where the stock might be headed as management works to turn the Facebook owner around.

Meta is growing faster

The immediate challenge for CEO Mark Zuckerberg and his team is to get the business back on a growth footing. The good news is that this goal is more achievable than you might think after a glance at the company’s 4% year-over-year sales decline in Q3. Strip out currency exchange rate shifts and that figure becomes a 2% increase, after all.

Meta is still gaining users, too, even on its most mature platform, Facebook. It’s not hard to see how a sustained focus on engaging videos in the Reels service can contribute to improving sales trends in 2023. “The fundamentals are there for a return to stronger revenue growth,” Zuckerberg told investors in late October. Ideally, executives will back up those words with more concrete signs of a rebound in the early February update.

Meta has been slashing costs

Meta entered the 2022 year with some of the best finances in the tech industry. But the scale of its negative turn here has been hard to watch.

META Operating Margin (TTM) Chart

META Operating Margin (TTM) data by YCharts

Operating income through the first three quarters of the year dropped to $22.5 billion from $34.2 billion. Net income in that period fell by more than $10 billion to $18.5 billion.

Watch for Meta to be brutal in slashing costs this year so it can end this profitability slide. The company already got the ball rolling here as it closed offices and announced layoffs in some areas. Yet these moves likely won’t start affecting the bottom line in a big way until future years, perhaps when sales growth is accelerating again.

The big questions Meta needs to answer

Meta isn’t skimping on the investments that management thinks will drive growth over the next several years. The Reality Labs division, home to the Quest VR brand, is projecting accelerating losses in 2023 as spending ramps up in areas like hardware and the metaverse. The company should add more context about these projects when it closes out fiscal 2022 and issues its first detailed projection for the new year ahead.

The stock’s path in 2023 will depend in part on things that are outside Meta’s control, including the pace of advertising spending and consumers’ discretionary tech budgets.

Yet there’s still plenty the company can do to improve sales and profitability trends over the next several quarters. And if both metrics have started rebounding, Meta shares have a good chance at outperforming the market in 2023 after posting their worst year yet last year.

Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Demitri Kalogeropoulos has positions in Meta Platforms. The Motley Fool has positions in and recommends Meta Platforms. The Motley Fool has a disclosure policy.

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Facebook Could Be Messing With Your Phone. Here’s What We Know

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Facebook Could Be Messing With Your Phone. Here's What We Know

Battery life is one of the most important aspects of smartphone usage — without solid battery life, a phone becomes far less useful. Even worse are instances when a phone’s battery drains faster than expected for no apparent reason, which may result in the user being caught off guard with a dead battery while away from a charger.

That’s the issue that prompted Hayward’s complaint, according to The New York Post, which quotes the data scientist as saying, “I said to the manager, ‘This can harm somebody,’ and she said by harming a few we can help the greater masses.” Hayward was allegedly fired in November 2022 after refusing to engage in the negative testing practices, leading to the lawsuit soon after. The big question is whether this practice — assuming the allegations are accurate — is widespread at Meta. 

If so, what other kinds of negative testing may be taking place without a user’s knowledge, and how might those tests impact their experiences with the company’s products? Hayward claimed that during his time working for the company, Meta gave him a training document that allegedly described types of negative tests that may be conducted — the document was reportedly titled, “How to run thoughtful negative tests.” Unfortunately, specific examples of those tests weren’t provided, and Meta hasn’t commented on the allegations to clarify how its testing practices may impact users, if at all.

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Meta awarded researcher a $27,200 bug bounty for glitch that bypassed Facebook 2FA

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Meta awarded researcher a $27,200 bug bounty for glitch that bypassed Facebook 2FA

Facepalm: Meta recently implemented a centralized login system to make it easier for Instagram, Facebook, and Meta (VR) users to manage their accounts. Unfortunately, in setting up the 2FA system, engineers overlooked a glaring failure regarding attempt limitation.

A freshman security researcher named Gtm Mänôz noticed the bug in July 2022. While looking for his first bug bounty to present at BountyCon 2022, Mänôz started playing around with the Meta Accounts Center interface, which manages all Meta accounts, adding similar functionality as Google’s one-stop login for its various services (YouTube, Gmail, Docs, etc).

He noted that the page allowed users to associate a phone number with their accounts when linking them. Users simply enter their phone number and then the six-digit 2FA code the system sends them. However, Mänôz discovered that if the wrong code is entered, the Account Center just asks the user to reinput it instead of sending a new code.

Furthermore, there was no limit on how many failed attempts one could enter into the verification box. This oversight allowed Mänôz to brute force the 2FA on his own account to associate his phone number with another Facebook profile. The only warning comes after the phone number is stolen in an email from Meta to the victim informing them that it has been linked to another user’s account.

While the harmfulness of this exploit is mainly limited to a bothersome re-establishing of the owner’s phone number, it effectively disables 2FA on the victim’s account, albeit temporarily. Until the target takes action, they are open to password phishing attacks.

“Basically, the highest impact here was revoking anyone’s SMS-based 2FA just knowing the phone number,” Mänôz told TechCrunch.

Mänôz notified Meta of the bug in September, and it patched the vulnerability immediately. A spokesperson said that when Mänôz found the problem, the Meta Accounts Center was still in beta and only available to a small number of users. The representative also noted that Meta’s investigation revealed no spikes in the usage of that feature, indicating that hackers hadn’t exploited it.

Despite the relatively low-treat of the glitch, Meta awarded Mänôz a $27,200 bug bounty. Not too shabby for his first bug hunt.

Meta has stumbled a few times in the last couple of years regarding the login features of its various accounts. In 2021, it caused a mild panic when it logged everyone out of Facebook when reconfiguring the website. Last year, it purposefully locked many users out of their accounts for not enabling “Facebook Protect” by a deadline set by an official Meta email that looked suspiciously like a phishing scam.

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