Media platforms

Performance of social media platforms in the third quarter of 2022

The third quarter was not an easy quarter for Meta. It reported its first drop in revenue since going public 10 years ago in its second-quarter results, and the volatile advertising environment prompted layoffs.

  • Facebook’s third quarter was slow in terms of product updates. It launched an API for Facebook Reels and announced that it would shut down its live shopping feature.
  • Instagram’s third quarter was marked by strategic changes. He pivoted his business strategy and converted all videos under 15 minutes to Reels.

Snap is in a tough spot. The company announced disappointing second quarter results, then laid off 20% of its employees and saw several key executives leave, including former chief commercial officer Jeremi Gorman.

  • Many of Snap’s Q3 moves are meant to drive more engagement. This includes the launch of Snapchat+, a dual camera feature, and a web version of the app.

TikTok was the elephant in the room amid disappointing second-quarter earnings calls from rivals. But TikTok did not come out of the third quarter unscathed.

  • TikTok came under scrutiny on multiple fronts during the quarter. Issues included TikTok’s ties to China, its effects on young users and the spread of election misinformation on the platform. Anti-TikTok sentiment among media executives has also increased.
  • And TikTok tried to thwart its first major engagement threat: BeReal. He launched TikTok Now, a replica of the France-based social app.

The third quarter brought more turmoil for Twitter. Shortly after filing a lawsuit against Elon Musk, Twitter announced disappointing second quarter results and was the subject of a new whistleblower complaint.

YouTube is the “OG” of creator platforms. In Q3, the platform showed it still earned the title by rolling out ad revenue sharing for creators on Shorts.

  • Creators will now receive a 45% reduction in ad revenue from shorts. This makes Shorts a better competitor to TikTok and puts it ahead of Instagram Reels, which does not offer ad revenue sharing.

Read the full report.

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