It’s actually happening.
Following a Twitter Board meeting on Sunday, within which they re-assessed Elon Musk’s $44 billion dollar offer to purchase the company, Twitter has now confirmed that it has entered into a definitive agreement to be acquired by Musk, which will have massive implications for the future of the platform.
Musk’s plan, as he’s communicated various times, is to take Twitter private, in order to reduce the platform’s reliance on ads, thereby enabling it to be more open to ‘free speech’, however Musk interprets such.
Will endeavor to keep as many shareholders in privatized Twitter as allowed by law
— Elon Musk (@elonmusk) April 14, 2022
Musk has been a vocal proponent of free speech, and has often criticized Twitter’s moderation efforts, including its decision to ban former US President Donald Trump. Now, Musk will be able to remake Twitter however he sees fit, which will likely see big changes to how it polices speech, and approaches moderation entirely – which, based on Musk’s comments, will be the key focus of his new reign at the app.
Though how exactly Musk will go about any of this remains to be seen. Already the CEO of Tesla, taking on the top job at Twitter himself seems like a big ask, which could see Musk appoint a new chief to oversee the next evolution of the app.
Current Twitter CEO Parag Agrawal tweeted this shortly after the news broke:
Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important. https://t.co/5iNTtJoEHf
— Parag Agrawal (@paraga) April 25, 2022
It’s impossible to predict what comes next, but you can bet that it’ll be a significant shift in strategy, which will likely be required if Musk wants to have any chance of recouping his massive investment in the platform.
Indeed, as some market analysts have noted, the fact that Twitter’s board has decided to accept Musk’s offer, after initially dismissing it as too low, would suggest that Twitter’s Q1 22 earnings report, due later this week, is not going to be a good one for the company.
Twitter has been up against it of late, with activist investors pushing the company to improve its results due to its consistent under-performance, particularly in comparison to Meta, which it once considered a rival in the social media space.
Now, that pressure is relieved – but even so, at such huge individual cost (around a third of Musk’s personal wealth), Musk, you would assume, must have a plan to generate more money from the app.
Could that see Musk switching to a subscription only model for all users?
That would eliminate the app’s reliance on ads, while it would also be more in line with Musk’s plan to verify all users’ real identities, in order to combat bots.
And authenticate all real humans
— Elon Musk (@elonmusk) April 21, 2022
Would people pay for Twitter if they had to? If Musk were to lock every user out, unless they signed up for Twitter Blue, or equivalent, would people do it?
There are also then questions about elitism, and locking out poorer users and regions, which would limit Twitter’s growth. But then again, if Twitter’s private, those decisions would all be in-house anyway, as the platform would no longer be accountable to shareholders or the market.
It seems like that could be a potential path for Musk to pursue, but what his exact plans are, nobody but Musk really has any idea.
It’s an extraordinary development, and one that again raises questions about the disproportionate power of the billionaire class. Former Amazon CEO Jeff Bezos, for example, owns The Washington Post, and some have suggested that it’s now more favorable to Bezos’ positions in its editorial coverage (note: independent studies have found little to no evidence of bias in the Post’s reporting since Bezos’ acquisition).
Will Elon look to censor critics, as he has in the past, on how own social network?
He’s certainly saying that won’t be the case:
I hope that even my worst critics remain on Twitter, because that is what free speech means
— Elon Musk (@elonmusk) April 25, 2022
Either way, prepare for major changes as Elon Musk weighs into the social media space, with control of his own social media app.
Meta Shares New Reels Creation Tips, Based on Successful Creators
Looking to add Reels into your Facebook and Instagram marketing strategy for the upcoming holiday season?
Latching onto the broader short-video trend, Reels is now Meta’s fastest-growing content surface, and has quickly become a valuable means to help boost exposure and reach for many creators and brands.
If you can get it right.
Like all social media options, there is an opportunity for big exposure, but boring, overly promotional or highly scripted Reels generally don’t do as well, and it takes a level of creative nous and understanding to ensure that your Reels content resonates with your target user communities.
So how can you maximize your Reels approach?
This week, Meta has published a new set of Reels tips, based on advice from creators @coconutandbliss, @gourmetemperor, @Olinhli, and @BradBoy‘s, who have all generated significant results from their reels efforts.
Meta has summarized their key tips into a listing of 8 key points:
Some of these notes are fairly generic, but they could help to give you some additional guidance for your Reels efforts.
Among the key pointers – summarizing your longer videos into shorter clips:
“We use reels as highlight clips of popular videos to promote our page and our content.” – @Bradboy
This is a relatively low effort way to create Reels clips, and Meta has added new editing tools to Creator Studio for just this purpose. It could be an easy way to try out Reels, while also promoting your longer video assets.
“To earn love and support from the audience, each and every of my videos needs to bring in a story that is relatable. If they feel connected, they stick around.” – @Olinhli.
Understanding what works for your audience, and what they want to see from your business, is key to creating resonant content, and Reels could provide a new opportunity to establish stronger relationships with your audience through engaging, personal content.
Research your audience and their related interests, get a feel for how they use your products, then iterate on that.
“I pull out one or two seconds of each scene when I edit, and then I join them together. This eliminates repetitive or unnecessary shots.” – @gourmetemperor
The rapid pace of Reels means that you need to lean into more snappy edits, and this tip could help to streamline your content flow, by eliminating unnecessary repetition.
It’s somewhat similar to Stephen King’s editing advice:
“In the spring of my senior year at Lisbon High – 1966, this would have been – I got a scribbled comment that changed the way I rewrote my fiction once and forever. Jotted below the machine-generated signature of the editor was this mot: “Not bad, but PUFFY. You need to revise for length. Formula: 2nd Draft = 1st Draft – 10%. Good luck.”
Distilling your content down to its essence can make it more compelling, which is even more true in short-form video content.
Another key tip relates to consistency, with one creator noting that they post Reels around five times a week. You may not need, or want to post that much, but it could give you some idea of how often others are posting to help build an audience.
These are some handy notes, which could help you formulate your own Reels strategy – and with short-form video consumption continuing to rise, it’s worth considering, at the least, as part of your end of year push.
You can read Meta’s full Reels advice post here.
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