TECH CRUNCH - Facebook is alerting users through emails and News Feed notifications that Nearby Friends, along with Weather Alerts, location history, and background location will be discontinued as of May 31. The features will no longer collect information after that date, and by Aug 1, the location history and background location information that had previously been shared will be deleted.
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Facebook to Shutter Its Nearby Friends Service
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TikTok Scores High in Advertiser and Consumer Interest
DIGITAL INFORMATION WORLD - A recent study conducted by a leading digital intelligence firm called Similarweb has revealed that TikTok is leading the way while Twitter and Meta's Facebook are struggling at maintaining that strong foothold. From the perspective of the advertiser, TikTok experienced a 199% growth when compared to 2021. While Facebook saw a 22% growth, Twitter witnessed a growth of 3.6% only. The report also delineated how a lot of the advertisers were impressed by the abundance of short videos and the great period that the platform’s users were spending on the app.
by Dr Hura Anwar
See full article at Digital Information World
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Facebook Tops Estimates With GAAP Earnings, Misses on Revenue
SEEKING ALPHA - The Facebook press release reported Q1 GAAP EPS of $2.72 beats by $0.17. Revenue of $27.91B (+6.6% Y/Y) misses by $310M. Shares +5.5%. DAP was 2.87B on average for Mar 2022, an increase of 6% YoY. MAP was 3.64B as of Mar 31, an increase of 6% YoY. Facebook DAUs were 1.96B on average for Mar 2022, an increase of 4% YoY. Facebook MAUs were 2.94B as of Mar 31, an increase of 3% YoY. It is expected that 2022 total expenses to be in the range of $87B-92B, lowered from their prior outlook of $90B-95B. 2022 capital expenditures, including principal payments on finance leases, are expected to be in the range of $29B-34B, unchanged from the prior estimate.
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Apple Just Issued a Stunning $12B Blow to Facebook
FORBES - Apple's new privacy features continue to hit Facebook as increasing numbers of iPhone users opt out from tracking on their devices. 1 year on from its launch, it seems the revenue hit is going to be even bigger than previously thought. According to a new analysis, the iPhone maker's App Tracking Transparency (ATT) features will cost Facebook $12.8B in 2022.
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Facebook Is Quietly Dropping Its Spotify and Clubhouse Killer
THE STREET - Facebook has jumped on the podcast and audio bandwagon last year amidst the success of the Clubhouse audio app. Last June Facebook launched Live Audio Rooms, short stories called Soundbites and podcasts. "Live Audio Rooms on Facebook enable you to discover, listen in on and join live conversations with public figures, experts and others about topics you're interested in," Fidji Simo, former head of Facebook App said in a blog post.
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Meta Puts Facebook's F8 Annual Developers Conference on Hold
ADWEEK - Facebook application director of developer and startup programs Diego Duarte Moreira explained in a blog post, "Similar to years past, we are taking a brief break in programming and will not hold F8 in 2022 while we gear up on new initiatives that are all tailored toward the next chapter of the internet, and the next chapter of our company, too: building the metaverse."
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Meta Takes Down 23.6M Bad Content in India on Facebook and Instagram
IANS - Meta actioned 15.4M spam content, 2.4M violent and graphic content, and 1.4M content related to adult nudity and sexual activity. Meta (formerly Facebook) took down 21.2M pieces of content across 13 policies for Facebook and ~2.4M pieces of content across 12 policies for Instagram in February following the IT Rules 2021. In February, Meta received 478 reports through the Indian grievance mechanism and responded to 100% of these reports.
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Facebook Has a TikTok Account Now
TECH CRUNCH - Facebook has set up its TikTok account. It's already amassed some ~15K followers despite not posting any public videos. TikTok verifies the account, and Facebook also confirmed it's legit. The company hasn't shared any further information on its plans for TikTok.
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Facebook Fined $18.6M Over String of 2018 Breaches of EU's GDPR
TECH CRUNCH - Meta has been fined ~$18.6M by the Irish Data Protection Commission (DPC) over a string of historic data breaches. The security lapses, which have affected ~30M Facebook users, date back several years - and had been disclosed by Facebook to the Irish regulator in 2018. The DPC found that Meta Platforms failed to have in place appropriate technical and organizational measures which would enable it to readily demonstrate the security measures that it implemented in practice to protect EU users' data in the context of the twelve personal data breaches.
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Russia Blocks Access to Facebook for Its 146M Citizens
STANDARD - A state regulator said that Russia had blocked access to Facebook for its 146M citizens amid the Ukraine invasion. The country's communications watchdog, Roskomnadzor, said the social media platform was blocked on day nine of the war due to "cases of discrimination against Russian media."
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Facebook Is Shutting Down Its College Student-only Social Network, Campus
TECH CRUNCH - Facebook attempted a return to its roots as a college-focused social network with the fall 2020 launch of Campus, a private section within Facebook that was only open to those with an @.edu email address. However, the initiative didn't succeed, as Facebook is now alerting users that Campus will fully shut down on March 10.
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Russia Is Restricting Access to Facebook
TECH CRUNCH - The Russian government will begin to "partially restrict" access to Facebook, according to an announcement from its internet regulatory agency Roskomnadzor. Russia claimed that it would implement the measures not specified after Facebook restrictions on four Russian state-linked media outlets.
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Facebook Letting Users in Ukraine Lock Their Social Profiles for Security
REUTERS - Meta has set up a special operations center to monitor the conflict in Ukraine, and it launched a feature so users in the country can lock their social media profiles for security, a company official said in Twitter posts.
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Facebook Reels Rolls out Worldwide Along With New Creative Tools and Ads
TECH CRUNCH - Facebook Reels have now become globally available in ~150 countries. Alongside the global rollout, Facebook introduces more creative tools and new ways for creators to make money from their Reels through advertising, and soon, Stars.
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Meta Threatens to Pull Facebook and Instagram in Europe Over Data-Sharing Rift
GO BANKING RATES - Meta renewed a warning to the EU that it will likely pull its "most significant products, including Facebook and Instagram," in Europe if the company cannot transfer data to the US. Suppose it cannot transfer data between and among countries and regions in which it operates or is restricted from sharing data among its products and services. In that case, it could affect its ability to provide services.
by Yaël Bizouati-Kennedy
See full article at Go Banking Rates
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