Over the past month there has been a very clear trend amongst all of the proposed changes this month; monetisation. GDPR has forced to hold up their hands and admit their mistakes, as well as grovelling from their customers to opt-in. In June we finally stopped hearing about GDPR every day and it seems that the big social media companies have had one focus: how can we make more money?
YouTube First we had YouTube Premium, YouTube’s paid subscription service offering customers an ad-free experience and the ability to save videos offline. Now meet their channel memberships, exclusively offered to channels with over 100K subscribers. The idea, similar to Twitch, is that subscribers pay a monthly fee to watch exclusive content from their chosen creator. After the success of Twitch we believe that this could do incredibly well but after creators offering their content free (albeit with adverts) for so long, and with the more commonly used Patreon (offering business tools for creators to run a subscription content service) which has risen in popularity in recent years, will subscribers be resentful of having to pay for what used to be free content?
Instagram Instagram is adding new buttons to business profiles. In addition to the existing Call, Text, Directions, and Email buttons, you can choose from four new action buttons; Book, Buy Tickets, Start Order and Reserve. These profile Calls to Action will increase conversions and Click through Rates by offering these options in app. It’s being launched in conjunction with ‘shopping on Instagram’ where products can be featured in a photo and offer buying details and information to users just by tapping on an image in Stories.
Facebook Another controversial entry comes from Facebook with their proposal to start charging a subscription fee for Facebook Groups. We predict that this could result in a sharp decline in activity within groups as people may not see the value in paying. Furthermore it will mean that any networks built up within these groups will have to connect with personal profiles or through group chats instead which affects user experience. It’ll be interesting to see whether Facebook more forward with this and how the community will react.
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