We saw this coming and while we’re sad to see MySpace 2.0 come into full view, we’re also happy that history repeats itself and slaps greedy behemoth companies in the back of the head real hard. Former Facebook now Meta shares have dropped an entire 26% on the stock market yesterday alone. That’s an estimated $230 billion. Woosh! Daily active users are bailing out and businesses are left wondering what’s next. We have our own prediction regarding the evolution of Facebook and we invite you to inform yourself below.
Point #1: Facebook Was Always Going To Fail Sooner Or Later.
Facebook worked because it was novel when it first came out. It provided connecting with people around the world and locally on a level never before offered by any company. It was fun. It was cool. It was exhilarating.
But then… The algorithm changed and it wasn’t chronological anymore. Then we all lost the ability to connect with our pages’ fans which we worked for so hard for years. Then we started getting inundated with ads. Everywhere. Then they stole Instagram AND WhatsApp. Then the scandals happened. It became so much to deal with that many who are still on Facebook, like ourselves, are on it because they have to offer or sell something. Some even use Facebook Marketplace more than connecting with others. The platform lost all its initial appeal and became a business hub. The issue is that now there are probably more active businesses and sellers than consumers thus Mark explaining recently how they don’t know what direction the advertising sphere will go.
Point #2: The Exodus Will Be Gradual And Probably Never Definitive.
MySpace has an estimated 13 million visitors monthly. Shocking, right? Well, a couple of million of loyal users are sometimes all a business needs to keep surviving and even thriving. We are willing to bet that Facebook will have a lot more permanent monthly visitors as it’s been around for almost 2 decades and some people only do Facebook. Especially the older folks. It will most likely become exclusively the hangout place for 40-year-olds and older. And accordingly, the go-to advertising hub for companies needing to reach that audience. The advertising costs will also dip because there will less competition and Facebook will have to keep low prices to get businesses interested in pouring any dollars into advertising.
Point #3: Instagram Will Follow.
Because it’s Facebook in disguise. They might save their numbers with the Reels and all that but they got too many damn ads and that’s a huge turn-off for many users. Young ones especially. We’re now seeing IG is mainly the go-to spot for 30-year olds since it was the IT thing once upon a time and many are nostalgic with it and refuse to accept that IG will eventually be a ghost town. It already sort of is. In our humble opinion, the same thing that made IG cool, celebrities, is the same thing killing the platform. There’s not much cool stuff to see besides a sh*tton of products from famous people.
Point #4: TikTok Will Reign High For Decades Unless…
TikTok creators got lucky because they were not the first ones to create a social media app of such kind. They just seem to have summarized the lessons of all previously successful AND failed apps and created one that incorporated the best traits of all. It has a bit of Vine with a bit of Musically but also a bit of YouTube with the 3-minute video extension. It satisfies the needs of a large crowd. So large that they beat every app on the market in active daily users. Just wow.
However… Let’s hope they don’t get too greedy and start pushing ads too much or limiting organic exposure. If they follow in the footsteps of Facebook, sure enough, death will be an imminent risk.
Point #5: Businesses And Freelancers Will Focus More On Building Their Own Communities.
2 decades of social media taught us a lot. But most importantly THIS: if you don’t OWN your medium, you WILL lose it. So whatever business and service you got, you will have to cultivate it on your own. Meaning, a website, an email list, a newsletter, maybe even phone numbers, and having the freedom to migrate from one place to another without difficulty and WITH your fans/customers. This is valid for both musicians and businesses. Plus the data breaches and privacy attacks on the bigger companies are no joke. You’re safer running your own small website.
Blue Rhymez Entertainment ©2022
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