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Meta Tells US Publishers That its Cutting Funding for News Tab Content

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Amid rising costs, and an increasingly uncertain ad market, Meta has begun informing US news publishers that it will not renew exclusive content deals with them, as it shifts away from its dedicated News Tab strategy.

As reported by The Wall Street Journal:

Meta has begun telling publishers in the US that it won’t renew contracts to feature their content in its Facebook News tab, according to people familiar with the matter […] Meta had signed up a host of publishers in recent years, including deals worth tens of millions of dollars with news organizations such as The Wall Street Journal, the New York Times and the Washington Post.”

In total, those deals are believed to be worth more than $100 million, with all of that going straight back to news publishers, providing a key lifeline, in many respects, amid the broader ad market downturn.

Now, those publications will have to find new ways to prop up their businesses – though interestingly, Meta will be maintaining payments to news publishers in the UK, France, Germany and Australia, where, at least in some cases, these payments have been enshrined into law as part of deals to secure a level of revenue share with local publishers for the use of their content.

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The most high-profile example of this is in Australia, where Meta actually blocked local news outlets entirely at one stage due to a dispute over its obligation to share revenue with them, as outlined in the Australian Government’s new Media Bargaining Code.

Meta’s stance on this was that it should not have to pay ‘for content that the publishers voluntarily place on our platforms and at a price that ignores the financial value we bring publishers.’

And Meta’s right – Australia’s Media Bargaining Code, which powerful local publishers had lobbied for, significantly over-values the benefit that news publishers provide to Meta and its apps.

But eventually, a deal was established, which now means that Meta needs to uphold these payments as part of its ongoing obligations in the region.

Which could make backing out of its News tab entirely a difficult proposition, and Meta has said that its dedicated News content feed will remain, even with this change in funding structure.

But US publishers don’t have the same policy backing as other regions – and you can bet that Meta will also be looking to reduce other elements of funding for news publishers and journalists, which had been a significant focus in recent times (note: Meta’s also pulling support for its Bulletin newsletter platform, which it launched in April last year).

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With its massive investment into the metaverse stacking up, the company’s looking to rationalize wherever it can.

Meta lost $2.8 billion on metaverse-aligned investments in the most recent quarter, while the company’s net income is at the lowest level that it’s been for two years.

Meta Q2 2022

That’s why Zuck and Co. are implementing various cost-cutting measures, including staff cuts, scaling back of in-app features (like social audio) and the abandoning of secondary projects including its smartwatch experiment and consumer Portal devices.

In some ways, this is uncharted territory for the company, which has thus far only seen growth, and it’ll be interesting to see how it adapts to tougher market conditions, and what that then means for its short-term strategies.

But what we know right now is that anything not directly connected to boosting user engagement, or the metaverse shift, is likely on the chopping block.

How long that lasts, and how far it reaches, will be dependent on broader market trends.

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Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

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Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

In a recent announcement, Snapchat revealed a groundbreaking update that challenges its traditional design ethos. The platform is experimenting with an option that allows users to defy the 24-hour auto-delete rule, a feature synonymous with Snapchat’s ephemeral messaging model.

The proposed change aims to introduce a “Never delete” option in messaging retention settings, aligning Snapchat more closely with conventional messaging apps. While this move may blur Snapchat’s distinctive selling point, Snap appears convinced of its necessity.

According to Snap, the decision stems from user feedback and a commitment to innovation based on user needs. The company aims to provide greater flexibility and control over conversations, catering to the preferences of its community.

Currently undergoing trials in select markets, the new feature empowers users to adjust retention settings on a conversation-by-conversation basis. Flexibility remains paramount, with participants able to modify settings within chats and receive in-chat notifications to ensure transparency.

Snapchat underscores that the default auto-delete feature will persist, reinforcing its design philosophy centered on ephemerality. However, with the app gaining traction as a primary messaging platform, the option offers users a means to preserve longer chat histories.

The update marks a pivotal moment for Snapchat, renowned for its disappearing message premise, especially popular among younger demographics. Retaining this focus has been pivotal to Snapchat’s identity, but the shift suggests a broader strategy aimed at diversifying its user base.

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This strategy may appeal particularly to older demographics, potentially extending Snapchat’s relevance as users age. By emulating features of conventional messaging platforms, Snapchat seeks to enhance its appeal and broaden its reach.

Yet, the introduction of message retention poses questions about Snapchat’s uniqueness. While addressing user demands, the risk of diluting Snapchat’s distinctiveness looms large.

As Snapchat ventures into uncharted territory, the outcome of this experiment remains uncertain. Will message retention propel Snapchat to new heights, or will it compromise the platform’s uniqueness?

Only time will tell.

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Catering to specific audience boosts your business, says accountant turned coach

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Catering to specific audience boosts your business, says accountant turned coach

While it is tempting to try to appeal to a broad audience, the founder of alcohol-free coaching service Just the Tonic, Sandra Parker, believes the best thing you can do for your business is focus on your niche. Here’s how she did just that.

When running a business, reaching out to as many clients as possible can be tempting. But it also risks making your marketing “too generic,” warns Sandra Parker, the founder of Just The Tonic Coaching.

“From the very start of my business, I knew exactly who I could help and who I couldn’t,” Parker told My Biggest Lessons.

Parker struggled with alcohol dependence as a young professional. Today, her business targets high-achieving individuals who face challenges similar to those she had early in her career.

“I understand their frustrations, I understand their fears, and I understand their coping mechanisms and the stories they’re telling themselves,” Parker said. “Because of that, I’m able to market very effectively, to speak in a language that they understand, and am able to reach them.” 

“I believe that it’s really important that you know exactly who your customer or your client is, and you target them, and you resist the temptation to make your marketing too generic to try and reach everyone,” she explained.

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“If you speak specifically to your target clients, you will reach them, and I believe that’s the way that you’re going to be more successful.

Watch the video for more of Sandra Parker’s biggest lessons.

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Instagram Tests Live-Stream Games to Enhance Engagement

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Instagram Tests Live-Stream Games to Enhance Engagement

Instagram’s testing out some new options to help spice up your live-streams in the app, with some live broadcasters now able to select a game that they can play with viewers in-stream.

As you can see in these example screens, posted by Ahmed Ghanem, some creators now have the option to play either “This or That”, a question and answer prompt that you can share with your viewers, or “Trivia”, to generate more engagement within your IG live-streams.

That could be a simple way to spark more conversation and interaction, which could then lead into further engagement opportunities from your live audience.

Meta’s been exploring more ways to make live-streaming a bigger consideration for IG creators, with a view to live-streams potentially catching on with more users.

That includes the gradual expansion of its “Stars” live-stream donation program, giving more creators in more regions a means to accept donations from live-stream viewers, while back in December, Instagram also added some new options to make it easier to go live using third-party tools via desktop PCs.

Live streaming has been a major shift in China, where shopping live-streams, in particular, have led to massive opportunities for streaming platforms. They haven’t caught on in the same way in Western regions, but as TikTok and YouTube look to push live-stream adoption, there is still a chance that they will become a much bigger element in future.

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Which is why IG is also trying to stay in touch, and add more ways for its creators to engage via streams. Live-stream games is another element within this, which could make this a better community-building, and potentially sales-driving option.

We’ve asked Instagram for more information on this test, and we’ll update this post if/when we hear back.

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