/ 28 July 2022

It’s not easy being Meta

It’s that time of the year when America’s big companies are updating investors about their performance, and this morning, the parent company of Facebook and Instagram is expected to report its first-ever revenue growth fall. That’s because it’s facing an exodus of younger users to newfangled apps like TikTok. As it continues to work on its ‘metaverse’, Meta has been rolling out Instagram upgrades, including the addition of the Reels feature that’s dominating users’ feeds. The move – which embeds the app’s shift away from photos and towards video content – hasn’t been embraced by everyone, with a post by users calling on Insta to “stop trying to be TikTok” going viral on Monday. And that’s not from nobodies – that’s the take of celebrity businesswomen Kylie Jenner and Kim Kardashian. Meta’s share price is already down 50% this year – and the pair are, like, influential in the social space…

Know someone who'd be interested in this story? Click to share...

The Squiz Today

Your shortcut to being informed, we've got your news needs covered.

Get the Squiz Today newsletter

Quick, agenda-free news that doesn't take itself too seriously. Get on it.