Social Media Businesses As You Know Them Are Dying Out?
Social media has reached its first real turning point, with Meta facing its first real losses and Twitter facing a complete overhaul by Elon Musk, the future of social media is unknown.
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It’s no secret that social media has endured a lot of change over the past few years. Social media as we know it is an extremely new form of communication. The concept of sharing our lives over the internet has only been around for just over a decade.
The future of social media is unknown. With so much turmoil happening politically and socially across the world, the future is as uncertain as ever. On top of that, large buyers are coming in to acquire major social media platforms, and transform them into a different product than the one we have all known for years.
Media stories have been floating around the internet highlighting investors taking stock in the plan to build the Metaverse. Facebook investors have a 10-year plan to build a parent company for larger social media sites such as Instagram and Snapchat. On top of that, Facebook’s biggest competitor, Twitter, was just acquired by serial entrepreneur Elon Musk.
It is not unlikely that Elon Musk will change Twitter as we know it. The beloved social media site is in for an overhaul, and the platform is expected to experience major shifts. The good news is, many believe that typical social media networking as we know it, has already become extinct.
Social media platforms that used to define the space such as Facebook, Instagram, Twitter, and Tumblr, have been outperformed by newer add more innovative communication channels. Facebook is now considered to be old-school by many, and Instagram is now known for being the main host of annoying advertisements getting in the way of social media networking.
Twitter is also facing a lot of pressure from the media and investors with the new ownership of Elon Musk. Some experts believe. Committed Twitter users will overturn the platform and switch to something else, as a result of new leadership on board. 10% of the users make up 90% of total traffic on Twitter, and heavy users are not daily posters, according to a report in Reuters.
As a replacement, social media users must make the switch to sites such as YouTube, TikTok, and twitch. These social media sites encourage poly-directional conversation and embrace the idea of becoming a content creator. Tik-Tok is now one of the most popular websites across the world, for both celebrities and everyday people alike.
Content creators have now discovered that simply posting on private channels does not create an income stream. As a result, users have started to create profitable and marketable content to help bring in Revenue. The future of social media might just be more of a revenue stream than anything else, which means we can say goodbye to typical networking as we know it.
This leaves consumers with the question, did these platforms ever really exist? we’re platforms created to help online networking or to only create profits? These are common questions we should be asking ourselves as the new wave of online communication takes over.
