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Elon Musk deal to buy Twitter in danger: report

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Campaign launched to stop Musk buying Twitter

Image: – © AFP Noel Celis

Twitter shares slid late Thursday after a Washington Post report that Elon Musk’s $44 billion deal to buy the social media giant is in danger.

The world’s richest man has previously expressed misgivings and even implied he could walk away from the deal over concerns about what he believes are an abundance of fake accounts.

According to the Post, however, Musk has been unable to pin down the percentage of Twitter accounts that are not genuine, despite being given access to internal data.

While Musk has already made comments putting his commitment to the deal in doubt, the latest report cited an anonymous source saying his team is preparing for a “change in direction.”

Twitter shares, which were already trading lower than the price offered by Musk, sank about four percent on the news in after-market trades.

“The Twitter soap opera is clearly coming to some sort of finale over the coming months as Musk makes the decision to stay (with a lower price) or go,” Wedbush analyst Dan Ives said in a note to investors.

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“The Twitter deal has clearly caused chaos at Twitter.”

Ives expected Musk to reveal details of his fake account concerns in the coming weeks.

During the Qatar Economic Forum last month, Musk said that his Twitter purchase remained held up by “very significant” questions about the number of fake users on the social network.

“So we are still awaiting resolution on that matter and that is a very significant matter,” the Tesla car and SpaceX exploration chief said via a video link to the gathering.

Twitter executives have held firm that less than five percent of accounts are bogus, with Musk saying he believes the number to be much higher.

Musk said there were also questions about Twitter’s debt.

The chances of Musk buying Twitter as originally negotiated are slim, Ives said.

Wedbush set the chance of the deal happening at a lower price at 60 percent, leaving open the door to the possibility Musk will try to walk away with only paying a required $1 billion breakup fee.

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Meta Launches New Reels Features, Including Stories to Reels Conversion and Improved Analytics

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Meta Launches New Reels Features, Including Stories to Reels Conversion and Improved Analytics

As it works to latch onto the short-form video trend, and negate the rising influence of TikTok, Meta has announced some new updates for Reels, across both Facebook and Instagram, including additional Reels insights, the expansion of the ‘Add Yours’ sticker, and ‘auto-created’ Reels clips. Yes, automatically created Reels videos.

Here’s how the new additions work.

The main addition is the expansion of the ‘Add Yours’ sticker from Stories to Reels, providing another way to prompt engagement from other users via Reels clips.

As you can see in these example images, you’ll now be able to post ‘Add Yours’ questions via Reels clips, while you’ll also be able to view all the various video responses to any prompt in each app.

It could be another way to spark engagement, and lean into the more interactive ethos of the short form video trend. Part of the appeal of TikTok is that it invites people in, with the participatory nature of the app essentially expanding meme engagement, by making it more accessible for users to add their own take.

Meta will be hoping that the ‘Add Yours’ sticker helps to facilitate the same, prompting more engagement with Reels clips.

Next up is auto-created Facebook Reels, which, as it sounds, will enable users to automatically convert their archived Stories into Reels clips.

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Reels updates

As you can see here, you’ll soon see a new ‘Create from Your Story Archive’ prompt in the Reels creation flow, which will then enable you to convert your Stories into Reels clips.

So it’s not exactly wholly automated Reels creation, as it’s just flipping your Stories clips into Reels as well. But it could provide another, simple way for users and brands to create Stories content, utilizing the video assets that they already have to link into the trend.

Worth noting that Meta also recently added a tool to convert your video assets into Reels within Creator Studio.

Meta’s also expanding access to its ‘Stars’ creator donations to Facebook Reels, which is now being opened up to all eligible creators.

Stars donations in Reels

Meta initially announced the coming expansion of Stars to Reels back in June, which will provide another critical monetization pathway for Reels creators. Short form video is not as directly monetizable as longer clips, where you can insert pre and mid-roll adds, so add-on elements like this are key to keeping creators posting, and fueling an ecosystem for such in its apps.

Stars on Reels will be available all creators that have maintained at least 1,000 followers over the last 60 days.

Meta’s also adding new Reels performance insights to Creator Studio, including Reach, Minutes Viewed, and Average Watch Time.

Reels updates

That’ll provide more perspective on what’s working, and what’s not, to help optimize your Reels approach – which could be especially valuable in the coming holiday push.

Lastly, Meta’s also expanding some Reels features that were previously only available in Instagram to Facebook as well.

Crossposting from Instagram to Facebook is now available to all Instagram users, while Meta’s also expanding its Remix option to Facebook Reels also.

Reels updates

As noted, Reels has become a key focus for Meta, as the short-form video trend continues to gain traction, and TikTok continues to rise as a potential competitor. By replicating TikTok’s main elements, Meta’s working to negate its key differentiation, which could ensure that more of its users don’t bother downloading a new app, and just stick with its platforms instead.’

Which, whether you agree with that approach or not, has proven effective. Reels content now makes up more than 20% of the time that people spend on Instagram, while video content, overall, makes up 50% of the time that people spend on Facebook.

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Meta additionally notes that it’s seen a more than 30% increase in engagement time with Reels across both Facebook and Instagram.

Meta doesn’t need to ‘beat’ TikTok as such (as much as it would like to), but it does need to dilute its significance if it can, and make it less appealing for users to have to start yet another new account, and re-build their friends list.

That’s why it’ll continue to replicate TikTok at every turn, because millions of people are currently not going to TikTok because of the presence of Reels in its apps.  

You can learn more about Meta’s new Reels updates here.

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