Welcome to Social Media Buzz Weekly, your weekly bulletin of the latest social media updates. With the social media landscape evolving with each passing day, it can be challenging to keep a tab on the rapid developments. Well, not anymore, as we have taken it upon ourselves to keep you abreast of every happening in the social media space.
So, without any further ado, let’s look at some of the most significant developments from the last week in the world of social media.
1. New Report Shows In-App Spending on TikTok Continues To Rise
According to new data from data.ai, TikTok users spent $3.8 billion in the app throughout 2023, up 15% year-over-year, and highlighting the massive opportunity that TikTok has to become a broader marketplace.
According to the report, consumers in the United States are tied with iOS users in China for the amount of TikTok’s life-to-date revenue they’ve contributed. Both have generated approximately 30% of it alone, and together comprise 60% of the total, or about $6 billion. After that tie for #1, the top five markets are rounded out by Saudi Arabia at #2, Germany at #3, the United Kingdom at #4 and Japan at #5. Those four countries combined contribute about 13% of the app’s IAP revenue.
2. Instagram Provides New Stories Engagement Options With Custom ‘Add Yours’ Templates
Instagram is giving users the capacity to create their own “Add Yours” templates in the app, which will provide another way to spark engagement based on specific, selected parameters.
You’ll now be able to create re-usable versions of your Stories formats, enabling you to put together custom quizzes, prompts, etc., based on existing in-stream tools. To create an “Add Yours” template, you’ll first add any GIFs, text, or images to your Story that you want to be part of your template. You then select the “Add Yours Templates” from the sticker tray, and choose the elements to pin as part of your template.
3. Instagram Adds Options to Simplify Live-Streaming via Third-Party Tools
Instagram has announced some new updates for live-streaming, which will make it easier to go live using third-party tools via desktop PCs.
If you have a professional account, you can now go live on Instagram using streaming software like OBS or Streamlabs through a stream key. Creators will now be able to obtain a stream key via the “Create” menu in the desktop version of the app. You’ll also be able to view a preview of exactly how your video will look once you launch your live stream.
4. Snapchat Announces Annual ‘Recap’ Activation, Shares Top In-App Trends From 2023
Snapchatters will be able to look back on their year that was, with Snap’s annual “Recap” activation going live in the app. Snap’s Recap, available in the “Memories” section of the app, will provide a short video look-back on your Snap content from the year.
With Snap providing each user with a custom summary, you can imagine that many Snapchatters will be keen to post their year in review, which will likely see millions Recaps shared in the app over the coming days.
5. Snapchat Announces New Generative AI Elements for Snapchat+ Subscribers
Snapchat has announced some new generative AI additions for Snapchat+, its paid subscription package, which is now up to 7 million paying members, up from 5 million just three months ago.
Firstly, it is adding a new way to create visuals in the composer, using text prompts to produce AI images. It’s also rolling out its own outcropping feature, which uses AI to extend images. Moreover, Snapchat will also be giving Snapchat+ subscribers the option to create collaborative AI images via its “Dreams” feature, so you and your friend can include each other in your Dreams creations.
6. X Adds Incognito Mode Controls for Spaces Hosts
X has added a new “Allow Incognito” setting to Spaces, which will let Spaces hosts decide which users tune into their audio discussion.
Spaces hosts can now activate this new toggle to ensure anonymous users can join their Spaces chats, or not, which essentially means that they can also lock it down to only logged-in users if they choose. This is somewhat similar to the option to hide your verification checkmark back in July, which seemingly acknowledges the fact that some people now view this as a negative marker, which negates the whole concept of selling blue ticks in the first place.
7. X Is Looking To Add Live Video to Spaces Chats
X is looking to add video to live Spaces chats, with a new feature that will enable Spaces participants to switch on video, if they choose, during a live audio broadcast. The option sounds similar to Zoom or Google Meet, with the speaker’s video screen highlighted, providing an additional element to Spaces chats.
Spaces, which was originally launched amid the live audio boom, enables group chats at scale, and Musk himself has been able to draw massive crowds to his Spaces chats with various celebrities and people of note. Overall, however, Spaces remains a lesser element, with discoverability still problematic, and most people largely over the audio social experience.
Wrapping Up
And that was a wrap of this week’s Social Media Buzz. We’ll be back next week with more news and updates for you from the social media world. Till then, stay tuned!
If you want to read more on the latest developments taking place in the social media space, take a look at ClickInsights’ Social Media Buzz, wherein we bring to you monthly reports on everything going on in social media, ranging from platform updates to policy changes that influence the way we market.