Facebook's ad revenue takes a hit due to coronavirus pandemic
Social media giant Facebook has stated that the coronavirus pandemic is hitting its advertising revenue, which accounts for nearly all of the company's earnings, despite the fact that more users are spending time on social media due to being confined indoors. Facebook messaging has increased by over 50 percent in coronavirus-hit countries, but its shares fell heavily.
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Facebook takes down Trump’s post about the immunity of kids and coronavirus
Facebook took down a video President Trump posted to his account Wednesday, citing its rules against false claims about the coronavirus. The post in question was a video clip from a Fox News segment from Wednesday morning in which the president makes the unsubstantiated claim that children are “almost immune” to COVID-19
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Techcrunch
Tencent adds $200 billion this year, now bigger than Facebook
China’s gaming and social media giant Tencent is now more valuable than Facebook, Tencent’s market capitalization has surpassed Facebook’s following a huge rally in the Chinese firm’s shares this year. The total value of publicly traded shares of the Chinese gaming and social media giant that owns WeChat stood at $664.50 billion at around 3:07 p.m. Singapore time. Meanwhile, Facebook’s market cap totaled $656.15 billion as of Tuesday’s close
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CNBC
Facebook takes on Zoom
Facebook takes on Zoom
The new feature allows users to stream video calls made in Messenger Rooms on Facebook Live. Facebook users who create a Messenger Room will be able to stream a live broadcast of the call from their profile, a Facebook Page or a Facebook Group, allowing large audiences to watch in real time.
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Foxbusiness
Twitter plans subscription model after a massive revenue slump
After reporting Q2 earnings that showed a marked dip in ad revenue, Twitter has said its exploring alternatives, dangling the possibility of a subscription option. The social media giant reported ad revenues of $562M, down almost a quarter (23%) on a year ago as the pandemic and “civil unrest” had both contributed to the decline. Twitter CEO Jack Dorsey told investors it’ll likely run subscription “tests” this year
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Techcrunch