In social media this week Instagram announce new options in stories, Facebook strengthens relationships with the media and Snap squashes rumours of a move.
Since launching in August 2016, more than 150 million Instagrammers use stories daily and Instagram have announced two new important additions. The first of these is the introduction of business insights into stories created by business accounts. The insights will let you see reach, impressions, replies and exits and will be available in the coming weeks. Secondly, Instagram have also announced the testing of full-screen ads in stories. Working with over 30 selected businesses, the new sound on format is fully immersive and is currently being tested by businesses including Buick, Captial One and Airbnb. No date has been given for when ads will be available to all business accounts but Instagram have said that they are “excited to launch even more ways to help you achieve your business needs in the future”.
In the face of criticism over not effectively tackling fake news stories in their news feed, particularly in the run-up to the US election, Facebook have announced the Facebook Journalism Project which aims to “establish stronger ties between Facebook and the news industry”. The project will focus in different areas starting with a collaborative development of news products including the evolution of existing formats like Live, 360, and Instant Articles (changes to Instant Articles are already testing) and a closer partnership to support local news and independent media. The project also includes training and tools not just for journalists but for everyone. E-learning courses are being made available for Facebook products and tools specifically for journalists and scaled training will be available for local newsrooms. Crowdtangle, which was purchased recently by Facebook, has also been made free for Facebook partners and new tools are being developed to help journalists gain easier access for Live content. The project is in its early stages but Facebook are making promises that their work on the project will improve their media relationships and ensure “that a healthy news ecosystem and journalism can thrive”.
Amid rumours that they were moving their international HQ to London, Snap have stated that this isn’t the case. They have confirmed, however, that they have made changes to their operation in the UK. The changes will allow them to bill advertising revenue from the UK through a UK entity which means they would also pay taxes in the UK. Unlike Facebook, who have been frequently criticised for their accounting practices and appear resistant to paying local taxes, Snap have said “we want to pay taxes in the country where we sell advertising” and that doing so “is part of being a good local partner as we grow our business”.