Twitter | Tier10lab
The fall season is full of change. Leaves change their color, pumpkin spice brutally divides a nation, and my social media feeds begin demanding sacrifice. If I went to a pumpkin patch but didn’t post pictures of my trip, is it like I even went? If I think Thanksgiving should get more acknowledgment but don’t rant about it on Twitter, is it like I even care? If I don’t make a big deal about the fall season in general, is it like I even care about anything?
But I digress.
What I do care about is providing you with a roundup of all the changes that are going on with social media over the past couple of weeks, and much like the nature of the fall season, there has been a lot of change going on with the Internet’s big players, starting with…
Twitter has a huge self-esteem problem.
Project Lightning is an ongoing rollout of updates to make the website a true platform for content curation, as originally intended. Moments and the recently swapped out “favorite” for a “like” button were some of the newest features to debut in a slew of updates as Twitter made a mad dash to resurrect its platform and grow its user base. But is Twitter’s cycle of reinvention going to be what ultimately saves it or wrecks it?
Despite failing to attract enough new users to meet projected goals, Twitter’s revenue has experienced exponential growth over last year’s earnings with a 61% increase to $502.4 million with a projected (and hopeful) year-end goal of $540 million. The lack of engagement from users doesn’t seem to be inhibiting the ability to monetize their service, as Twitter’s ad revenue accounts for most of the company’s earnings.
In its latest round of experiments with the platform, Twitter has begun filling people’s timelines with tweets that their friends have favorited. The feature, while similar to a retweet, is much more like Facebook’s news feed and its endless stream of user likes. Since being tested, the reaction to the experiment has been mostly negative.