Monday, 6 May 2019
Are some social media platforms on their way out?
MySpace is still around - so, they are alive, but dead in public’s opinion for years.
I think it’s better to ask “what social media are in decline or about to pass their peak”. And I would say that most of networks that are instrumental in our online lives today, have already gone through their peak.
For some of them, the reason is competition from Facebook. Snapchat is under pressure from Instagram. Tumblr is eclipsed by the Facebook itself. GooglePlus and MySpace, yeah baby, there were the household names, we will remember them, thank you very much.
Twitter, which is unique on the market and provides IMHO the most value for its users, struggles with monetization. They innovate slower than Facebook and it’s often viewed as a plus by its fans, but that does not impress the Wall street.
Facebook and Instagram are broken by algorithms that build user feeds. Thanks to over-reliance on AI, Facebook turned into the bad version of television, and Instagram turned into the bad version of lifestyle magazines. They still enjoy the moment of being on top of the Mountain - because “everybody is there”, but a huge chunk of their users are in Facebook fatigue and would abandon the ship as soon as some another network emerges to free us from Facebook sins.
However, I’m not sure that new Facebook is being brewed now in someone’s garage. Probably it’s not possible to become a tool for billions without going the sticky road of advertisement-run business. Yes, many people are scared by the amount of information that Google and Facebook gathered about all of us, but most of humanity does not care.
Few niche networks will emerge to deliver us the promise of privacy, but the masses will still use what they are used to.
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An interesting update on facebook and google. http://www.emarketer.com/Article/Google-Grabs-Social-Sign-In-Share/1009830