Facebook adds new ‘Inspiration Hub’ to Creator Studio
Facebook is looking to provide businesses with more insights to help inform their posting strategy with a new element within Creator Studio that highlights trending content and hashtags within categories related to a particular business page.
The Inspiration Hub will display trending hashtags and videos from the last 24 hours posted by similar pages. Additionally, business users will be able to filter content by factors including page category, content type, region, and more.
The new feature could prove hugely valuable for businesses looking to learn what Facebook users are responding to and what people in their target market are engaging with.
Meta’s crypto-currency project suffers another blow
Meta’s troubled cryptocurrency project Novi has been dealt yet another setback, with top executive David Marcus, formerly of PayPal, announcing that he will be leaving the company at the end of the year.
Meta had hoped that it could introduce a native digital payment system within Facebook which would eventually power eCommerce, and broader transactions, to help make it a more critical utility for more users around the world.
However, the project has faced several challenges throughout its development. Both China and India have moved to ban the use of any crypto-currency operating within its borders, while US lawmakers have continually pushed back against Novi’s launch within their region.
Meta has already appointed a replacement to David Marcus, but this loss is still a significant loss to the project as he brought considerable expertise and industry heft.
TikTok launches new transparency centre
TikTok has launched a dedicated transparency centre to bolster its efforts to be more open and accountable to audiences.
The new hub will house the platform’s annual and quarterly transparency reports. Having all these reports in one place now makes it easy to cross-check numbers and find trends and changes in TikTok’s enforcement efforts.
The company began releasing transparency reports in 2019 in a bid to build trust. TikTok also recently released the findings of a specially commissioned report to help better understand young people’s engagement with potentially harmful challenges and hoaxes in an attempt to strengthen safety on the platform.
Twitter launches initial test of live-stream shopping
Twitter is the latest social media platform to dip its toes into the world of live-stream shopping in the hopes of maximising eCommerce activity on its app. This follows a number of other platforms announcing their own live-stream shopping broadcast services including Instagram, TikTok, YouTube, Facebook and Pinterest.
In the new feature, users will be able to tune into the live tweet discussion around the event or check out a ‘Shop’ tab featuring all the products highlighted in the broadcast.
Twitter has been developing a range of in-stream shopping options over the past year, with the launch of a live test of its coming Shop module for business profiles back in July marking a big step forward into its progress in this space.
Meta could be forced to sell Giphy after UK regulatory ruling
Meta is facing another regulatory battle, after the UK regulator Competition and Markets Authority (CMA) ruled that the company must sell Giphy, which it acquired in May 2020, due to the acquisition’s potential to reduce competition between social media platforms.
The CMA ruling stated that Meta would be able to use its influence over Giphy to deny or limit competitor platforms’ access to its service. Therefore giving an unfair advantage to its own products Facebook and Instagram.
Meta will explore every avenue of appeal, which will likely see the case drag on for some time. But if Meta is forced to sell Giphy, this could make a significant shift in a broader regulatory landscape and change the way that the big tech platforms operate.