YouTube ad sales hit $7bn
YouTube is showing no signs of slowing down in popularity, with over 120 million people watching content on the platform on TVs every month, up from 100 million last year. What’s more, the channel’s TikTok rival Shorts is seeing a growth in usage, crossing 15 billion daily views in June, more than double the previous quarter. That has led to a $7bn ad sales total, with brands flocking to the platform to get their product in front of its large and growing audience. With one billion hours of video watched every day, the future is looking bright for YouTube.
Pinterest delivers on profit but user numbers dwindle
It was an interesting Q2 report for Pinterest, with the platform racking up revenue of $613.2 million. Not bad, eh? However, the company reported a monthly active user growth of just 9% to reach 454 million. Analysts were expecting 482 million, making this a disappointing realisation for the app. Initial growth was a direct impact of the pandemic, which inevitably benefitted Pinterest as people flocked to the app for inspiration to reinvent their lives during a difficult time. But since the world has opened up, the platform's growth rate has been affected, meaning the next quarter will be a real test for the channel to see if it can increase its user base.
Instagram Reels can now be one minute long
One minute is the new thirty seconds. Instagram’s Reels feature is one year old, and videos can now be up to one minute long. Initially starting at just 15 seconds, short-form video content is getting longer and longer, with TikTok also recently extending its time limit to three minutes. This is an interesting departure from the fast-paced videos that surged in popularity over the pandemic, with this latest move from Instagram highlighting the platform’s investment in video content on the platform.
Pinterest lets influencers make money off shoppable pins
More money-making opportunities are coming to Pinterest. The platform has announced its first set of tools to let content creators earn money by promoting items from around the site. By adding support for affiliate links, creators can get a cut of the purchases they drive, meaning lots of potential for some handsome profit. Pinterest is also adding a product tagging feature to Pins and creating a new ‘paid partnerships’ label to support sponsorships within Idea Pins. Businesses can already upload ‘Product Pins,’ but now creators will be able to browse these pins and integrate them into their Idea Pins, making content with the product.
Snapchat adds My Places feature to Snap Map
As we escape the familiar sight of our homes, Snapchat is making it easier for users to find restaurants, shops and other interesting spots in their neighbourhood. With 44% of Snapchatters using their Snap Map to find places around them that they might be interested in, the My Places feature connects users with over 30 million businesses. My Places has three main tabs; visited, favourites and popular. Users can log in to their favourite spots, send them to friends, and find recommendations. Unlike Google Maps, My Places makes the map experience personal to each user.
TikTok introduces Re:Make
From meerkats to Milk Tray nostalgia, there are certain adverts that are hailed as iconic. TikTok is now encouraging creators to recreate some of their favourite ads, with videos aggregated under #TikTokReMake. The first three brands to take part in the Re:Make programme are Old Spice, Skittles and Snickers. The aim is to inspire ways in which agencies and brands can get involved and encourage creativity on the platform.
Ariana Grande to headline next Fortnite concert series
Following Travis Scott’s headline gig on the platform, Fortnite has cemented itself firmly in the metaverse. Now, a global superstar is heading to the gaming app for a five-show concert series that kicks off on August 6th. Ariana Grande will be taking to the Fortnite stage, pairing popular tracks with moments based on elements from the game. What’s more, you’ll be able to turn up in true Ariana fashion, as a skin based on Grande will go on sale on August 4th. Thank U, Next.
Ones to watch
Twitter is testing letting users shop from profiles, as well as notices that tell you if you've been suspended or locked out of your account. Spotify's podcast ad revenue jumps by 627% in Q2.