Social Media News: Instagram is expanding NFT features to more than 100 countries, Instagram's Mosseri to relocate to London
The SocialDay - Social Media News Roundup, Your Midweek (little late this week) social media news is rounded up from the past week in one place so you don't have to go anywhere else! Arm yourself with the latest social media updates so you can impress your colleagues, boss, clients etc... We've got you!
This week, hear from James Hayward-Browne - Marketing Manager Rise at Seven - In this session, you will learn about Tying together SEO, Social Media and PR.
If you haven't got your ticket to this year's SocialDay in London grab yours here and if you need help getting your boss to pay for your tickets, see our guide to convincing your boss.
Oh and also, here is the FULL programme! (needs a tweak but you get the idea) We have been working very hard on this, come along Insiders ;-)
You might also want to learn about one of our Keynote speakers Claire Hoang Marketing Lead ITV GL&M (Gaming, Live and Merchandise) - In this Q&A
Here are your TOP Social Media Stories...
(Scroll down to read the full stories)
👉 TikTok to overtake Facebook in influencer marketing spend this year, YouTube by 2024
👉 Facebook is shutting down its live shopping feature on October 1
👉 UK Parliament closes down its TikTok account over firm's China links
👉 Meta is secretly testing a Twitch-like platform called Super
👉 Instagram head Adam Mosseri to relocate to London
👉 Instagram is expanding NFT features to more than 100 countries
👉 Twitter says Musk is ‘conjuring’ excuse to escape takeover deal
Your stories in more detail:
👉 TikTok to overtake Facebook in influencer marketing spend this year, YouTube by 2024
Instagram may be worried about TikTok’s threat to its business, but in the near-term, it’s still far ahead when it comes to the influencer marketing dollars spent on its platform in the U.S. According to a new analyst report, Instagram is on track to capture nearly 3x the amount of influencer marketing spend compared to TikTok in 2022 — or $2.23 billion spent on Instagram compared with the $774.8 million spent on TikTok.
However, while Instagram is faring well against TikTok on this front, Meta’s other app, Facebook, is not as lucky.
The new data, which hails from analysts at Insider Intelligence (previously eMarketer), indicates that TikTok is now on track to overtake Facebook in terms of influencer marketing spend this year and will overtake the No. 2 platform, YouTube, by 2024.
Learn more on this story from Tech Crunch
👉 UK Parliament closes down its TikTok account over firm's China links
Speakers from the Commons and the Lords say they were not consulted over the "pilot project" to engage younger audiences, but agreed with MPs' fears of data being passed to the Chinese government.
Read more about this story on Sky News
👉 Facebook is shutting down its live shopping feature on October 1
Facebook is shutting down its live shopping feature on October 1 to shift its focus to Reels, the company announced in a blog post. After this date, you will no longer be able to host any new or scheduled live shopping events on Facebook, the company says. The social media network notes that you will still be able to use Facebook Live to broadcast live events, but you won’t be able to create product playlists or tag products in your Facebook Live videos.
Learn more about this story in Tech Crunch
👉Meta is secretly testing a Twitch-like platform called Super
Influencers, whom Meta had contacted to test the platform, provided the outlet with details and a full pitch deck that the company has been using to sell the service to creators. No more than 100 creators have used Super so far. In a statement provided to Business Insider, a Meta spokesperson said that Super is an entirely separate product and not part of its other platforms, like Facebook or Instagram.
Read more about this story on Tech Crunch
👉 Instagram head Adam Mosseri to relocate to London
Instagram head Adam Mosseri is moving to London, signalling a strategic shift for the social networking app that is in a fierce battle with viral video platform TikTok to attract and retain younger audiences. His move will effectively make the UK capital, which is parent company Meta’s biggest engineering hub outside of the US with more than 4,000 employees, Instagram’s base over the coming months.
Learn more about this story on The FT
👉 Instagram is expanding NFT features to more than 100 countries
The non-fungible token (NFT) market has fallen off a cliff, but that's not stopping Instagram from doubling down on digital collectibles. After a test launch in May, the app is expanding its NFT features to more than 100 countries across Africa, Asia-Pacific, the Middle East and the Americas.
Instagram users can include NFTs in their feed and messages, as well as in augmented reality stickers in Stories. NFT creators and collectors are automatically tagged for attribution. You can't buy or sell NFTs on Instagram just yet, but Meta has strongly hinted it's working on a marketplace.
Read more about this story on engadget
👉 Twitter says Musk is ‘conjuring’ excuse to escape takeover deal
Twitter has rejected Elon Musk’s claims in court that he had legitimate reasons to back out of a $44bn deal to purchase the social media platform, marking the latest development in a dramatic legal showdown.
In a filing made public on Thursday, Twitter called Musk’s arguments for abandoning the deal “a story, imagined in an effort to escape a merger agreement that Musk no longer found attractive once the stock market and along with it, his massive personal wealth, declined in value”.
Read more about this story on The Guardian
From the archives:
James Hayward Browne - Marketing Manager Rise at Seven
In this session, you will learn about tying together SEO, Social and PR.
Thank you! We'll see you again next week! If you enjoyed this roundup, you may also like our Digital Women news roundup too which includes content from the world of tech, web3, digital and social media and is totally up to date to the moment on the digital news on a Friday! - Between this one and that one, we really do have it covered!
All the best!
