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Social Media Company Twitter Looking For Ways to Generate More Revenue

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Micro-blogging platform Twitter is looking for ways to generate more revenue, following its recent plan to auction usernames on the platform.

Recent reports disclose that the social media company is considering organizing an online auction where users can bid for usernames also known as “handles”.

Although, the company’s username squatting policy prohibits attempts to sell, buy or solicit other forms of payment in exchange for usernames which it termed as violations that would result in permanent account suspension.

However, Twitter’s recent plan to auction usernames is coming after the company’s CEO Elon Musk last year December disclosed his decision to free up the namespace of 1.5 million accounts.

That is, Twitter accounts with no tweets or logins for years will be deleted to free up space for names. “These are obvious account deletions with no Tweets and no log-in for years”, he tweeted.

Investors King understands that ever since Musk acquired the microblogging platform for $44 billion in October 2022, which saw him take on $13 billion in debt as part of the deal, he has been carrying out a serious revamp on the platform as well as monetizing so many things to generate more revenue.

Recall that Musk introduced a subscription fee of $8 for users to get the blue tick, which he disclosed that the price would be adjusted by region and country. Musk stated that doing so was essential to defeat spam/scams.

Reports disclose that Musk aims to quintuple Twitter’s revenue to $26.4 billion by 2028. He also anticipates that he can increase Twitter’s average revenue per user to $30.22 in 2028, as he expects to have 11,072 employees by 2025.

Among his other goals, he expects the social media company to bring in $15 million from a payments business in 2023 that will grow to about $1.3 billion by 2028. Musk also aims to increase Twitter’s cash flow to $3.2 billion in 2025 and $9.4 billion in 2028.

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WhatsApp Enhances Users Experience, Rolls Out New Voice Status Update

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Meta-owned messaging platform Whatsapp in a bid to enhance users’ experience has rolled out a new voice note status update.

This feature is coming months after Whatsapp noticed a significant traction in voice messages on its platform, which it disclosed that users were sending 7 billion voice messages on Whatsapp every day.

With this feature, users will be able to record and upload their voice notes as their Whatsapp status. They have the ability to record and share voice messages for up to 30 seconds.

When uploading a voice note, the send button transforms into a mic button that users can press and hold to record a message, much like sending voice messages in a regular WhatsApp chat.

Voice status can be used for sending more personal updates, especially if one feels more comfortable expressing themselves rather than typing.

Similar to pictures and videos status upolad settings, users will be provided with the flexibility to update their privacy settings per status so they can choose who views their status each time they upload it.

However, users who have contacts that have not yet updated their WhatsApp to the latest version, will not be able to hear or view their voice status until they update the app.

Investors King understands that Whatsapp has been working on the voice status feature for close to a year, with the early signs showing up in July 2022. WhatsApp began by rolling out the feature to a handful of testers via the latest beta update on the Google Play Store.

The updates have started rolling out to users globally and will be available to everyone in the coming weeks, the messaging app said.

It is however interesting to note that Whatsapp is not the only social media platform rolling out the voice status update. Micro-blogging platform Twitter has also been testing out the option to list voice tweets on iOS for some time now, but the feature is yet to be fully launched as it is still in testing mode.

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Meta Exceeds Estimates for Revenue in Fourth Quarter Earnings Report, Surpasses Wall Street Prediction

The social media giant ended the year with $US 32.1 billion in revenue, surpassing Wall Street predictions of $US 31.6 billion.

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Despite a tough start to 2022, Facebook parent company Meta exceeded estimates for revenue in its fourth-quarter earnings report, surpassing Wall Street Prediction.

The social media giant ended the year with $US 32.1 billion in revenue, surpassing Wall Street predictions of $US 31.6 billion.

Meta’s shares soared by 23 percent which saw the company’s founder Mark Zuckerberg amass a whopping $10 billion in 24 hours, with the tech giant announcing a $40 billion stock buyback.

Meanwhile, revenue in the fourth quarter fell 4% from a year earlier, marking a third straight quarter of declining sales. It’s cost and expenses ballooned 22% year-over-year to $25.8 billion.

Its profit more than halved to US $4.4 billion in the third quarter (Q3) from $9.2 billion a year earlier, while it announced significant changes to bolster efficiency in a tougher economic environment.

The social media giant in the third quarter faced stagnating user numbers and cuts in advertising budgets, also its revenue slipped to U.S. $27.7 billion from U.S. $29 billion a year earlier.

Its shares plummeted by over 60% last year, as Zuckerberg struggled to sell Wall Street on his plan to pivot the company towards the yet-to-be-developed world of the metaverse.

This frustrated investors who expressed concerns that the company was focused on a bleak futuristic endeavor, the met averse, while its ads business struggled.

Following the turnaround in the company’s recent revenue, Meta attributed the adjustment to slower anticipated growth in payroll expenses and cost of revenue. The company also said it was lowering the capital expenditure estimates for the year 2023 to be in the range of $30 billion to $33 billion, down from $34 billion to $37 billion.

It, therefore, expects its total expenses in 2023 to be in the range of $89 billion to $95 billion, lower than its prior outlook of $94 billion to $100 billion for the year.

Few analysts disclosed that the company had made all the right moves by posting better-than-expected earnings with impressive advertising revenue results, slashing expenses, and then announcing a massive share buyback plan.

Meta’s CEO Mark Zuckerberg who had earlier stated that the company was going into 2023 with a focus on prioritization and efficiency,  revealed that the company’s management theme for 2023, is the “year of efficiency”.

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Short-Form Video Platform TikTok Improves Private Messaging Feature

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Short-form video hosting platform TikTok has improved its private messaging feature by expanding the direct message settings, giving users the option to choose who they want to receive messages from.

The company which sent an email to users updating them on the feature disclosed that the current messaging update contains options such as suggested friends, mutual followers, and people you have sent messages to.

Through settings, users can access the DM options, and also filter out suspicious spam messages. To change their direct messaging settings, all they need to do is to tap the profile icon at the bottom of the Tiktok home screen.

Next, they will tap on the menu button at the top and select “settings and privacy”, and then tap “privacy”. From there they will need to select direct messages and then they would be able to choose who they would like to allow to send them DM.

This feature could make TikTok a messaging app, enabling users to DM their favorite content creators. The feature is currently on other social platforms such as Instagram and Snapchat which enables users to choose who they want to receive messages.

Investors King understands that TikTok’s latest messaging feature can be seen as a move towards competing with other social media platforms that have enabled such feature.

The short-form video platform has continued to improve its platform with the latest user-friendly features as it continues to heighten competition in the social media space. Last year, it introduced a “new friends tab” that replaced the “discover tab”, which the app disclosed that it was looking for a new way to recommend content based on users’ friendships.

After its launch in 2016, reports disclose that TikTok awareness has grown exponentially. Its popularity skyrocketed with a 61% increase in mentions year over year (YOY) during the first half of 2021.

According to report, TikTok has the power to help brands connect with their target market especially when they engage them. Being the first non-facebook app to reach 3 million global downloads, TikTok is poised to continue its dominance in the social media space.

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