If you are a human being that inhabits this planet, then you should already know that it is not easy for anyone. The world scenario this year, so far, has been extremely difficult for several companies and startups. Investments have dropped due to global economic instability and several companies are having to find creative solutions to balance themselves in the market.
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In the social media niche, shares of Facebook and Instagram are down about 40%. With the widespread global crisis, Meta CEO Mark Zuckerberg's plans to turn platforms into a metaverse player have scared investors.
For Snapchat, the situation gets even worse, as the stock has dropped nearly 70% this year. The Pinterest platform also lost 50% of its value. And not even YouTube and Google are immune, having a not so drastic drop, but still, a relevant 20%.
Against the tide of challenges, Tik Tok has seen a significant rise in its user growth metrics, mainly younger subscribers, from the "millennial" and "Z" generations, target audience of advertising campaigns and adverts. Big brands are also increasingly embracing Tik Tok, which could hurt other social media companies. “We continue to focus on social platforms that are relevant to the younger Gen Z consumer,” said Stefan Larsson, CEO of Calvin Klein and owner of Tommy Hilfiger, an American clothing brand premium.
Viral videos draw the attention of advertising agencies, leaving other networks with yet another problem to be solved. The main platforms affected are those of Meta, in addition to Snapchat and Twitter.
Lover of movies and series and everything that involves cinema. An active curious on the networks, always connected to information about the web.
