Social Media companies feeling the financial pinch
Google, Facebook, Twitter, Snapchat and others all trimming their staff numbers by 5,000 to 10,000 per company.
Most have put a hiring freeze on while the rest missed their financial expectations at the end of the last quarter. Thus result dented their share price and company value significantly.
Some are doing it in preparation for the recession, others laid off staff because their revenues from advertising and data tracking have taken a major hit since the introduction of Apples Do Not Track Me option for users. Only 4% of users have allowed app companies to track their usage across all apps.
Apple has over 1.2 Billion Users world wide as of 2022
Android has more users than Apple and has an 87% market share of the phone market.
There’s a rocky road ahead for social media companies with regards to earnings.
This is not a sob story this is just an update as to how things are going especially for companies like Twitter where Elon wants to promote more “free speech” and less content moderation. as a way of attracting more users back to the platform.
Ideally more users on a platform means it’s more appealing to product sponsors and advertisers who get users to promote/influence other users to buy what ever they are promoting.
However if all those new users want to do I’d to promote unmoderated hate speech this can have the undesired effect of scaring advertisers and brand names away from the platform.
Twitter is already loosing $5 million a day though operating costs vs revenue.
Let’s see how long they last with unmoderated content.
Most have put a hiring freeze on while the rest missed their financial expectations at the end of the last quarter. Thus result dented their share price and company value significantly.
Some are doing it in preparation for the recession, others laid off staff because their revenues from advertising and data tracking have taken a major hit since the introduction of Apples Do Not Track Me option for users. Only 4% of users have allowed app companies to track their usage across all apps.
Apple has over 1.2 Billion Users world wide as of 2022
Android has more users than Apple and has an 87% market share of the phone market.
There’s a rocky road ahead for social media companies with regards to earnings.
This is not a sob story this is just an update as to how things are going especially for companies like Twitter where Elon wants to promote more “free speech” and less content moderation. as a way of attracting more users back to the platform.
Ideally more users on a platform means it’s more appealing to product sponsors and advertisers who get users to promote/influence other users to buy what ever they are promoting.
However if all those new users want to do I’d to promote unmoderated hate speech this can have the undesired effect of scaring advertisers and brand names away from the platform.
Twitter is already loosing $5 million a day though operating costs vs revenue.
Let’s see how long they last with unmoderated content.
51-55, M