Facebook has grown into the largest social network, with more than 1.49 billion active users, according to its 2015 second-quarter earnings report. This number was a 13 percent increase from a year ago, and a 3.47 percent increase from the previous quarter.
There is no denying Facebook wants to grow, increase users and expand its content-delivery options. The company purchased WhatsApp and Instagram for a whopping $22 billion and $1 billion, respectively. They have huge plans for its messaging app, which already makes up 10 percent of global mobile voice over IP calls. Oh, and Facebook says its messaging app is only 1 percent finished.
Here is how the company has its sights set on becoming an even bigger force by pulling users away from YouTube and Twitter.
I love Twitter for what it was designed to be — a quick go-to source for breaking news and content from people and outlets you follow. The 140-character limit makes the social network unique, but I feel many people just don’t understand Twitter. Did the company not do a good enough job of explaining how to use it? Possibly, as I often hear people say, “I just don’t get Twitter.”
With the reports of Twitter’s ad revenue growth slowing down, the appointing of Jack Dorsey as CEO (who is also the CEO of Square, a company that is about to go public) and the recent announcement that the company is laying off more than 300 employees, Facebook, like a shark, smells blood in the water and is ready to attack.
A new real-time news-notification app is in development, reportedly to be called Notify, according to this report. If the unverified screenshots are indeed the app, users will be able to search Stations and Providers to follow in their feed. Stations could refer to media outlets and Providers could possibly reference individuals. We will have to wait for Facebook to make an official announcement to get the complete details.
There is also talk of the character limit being set at 100 — its clear that Facebook wants to create a better Twitter, and introduce it directly to the approximately 1.5 billion users already on social network. There have been some reports that a small group of publications are already testing the app in preparation for a launch at the end of this month.
YouTube, the second largest search engine, is the brand you immediately think of when discussing online video. The phrase “YouTube it” is just as common as “Google it” — but Facebook has plans to capture a big piece of the video pie, along with the advertising dollars that come with it.
Facebook announced it is now testing a dedicated video feed, which allows users to scroll through and discover new video content. It previously introduced a feature that lets public, verified figures live stream content using the Mentions app, as well as an ad revenue-split opportunity to attract content creators. I’ve experimented with the Mentions app and I think it has a lot of potential — I plan on using it as one of many promotional tools to introduce a new audience to mybusiness.
This move by Facebook shouldn’t be a surprise to anyone. YouTube brought in approximately $4 billion in 2014, although reports say it still isn’t profitable for Google. The main problem? Getting users to visit YouTube without coming from another outlet, such as Facebook, or watching the video embedded on another site.
Facebook is on a mission — one that I’m looking forward to watching unfold.
What do you think? Is Facebook going to make a big splash with these moves? Share your thoughts in the comments section below.