The first month of 2023 has come to an end, setting the tone for the rest of the year! Meta has made a splash as they continue to slowly add metaverse elements into our daily lives while YouTube begins their Shorts monetization process, and TikTok forecasts 2023 trends. Read all about these updates and more below!
Social Media Updates
YouTube’s New Shorts Monetization Process Will Come into Effect in February
Starting February 1st, ad displays will take effect in YouTube Shorts allowing monetizing partners to earn money from ads viewed between Shorts. According to YouTube, this new revenue sharing model will replace the YouTube Shorts Fund. Creators will be able to apply for a cut of Shorts ad revenue if they have over 1,000 subscribers and have seen 10 million Shorts views over the past 90 days. YouTube’s new payment model could be a more sustainable and equitable model as payouts will grow as Shorts does and funding is not capped as it would be in a creator fund.
Meta’s Bundling your Instagram and Facebook Account Setting in One Place
Meta is working to connect their platforms closer together by placing your Instagram, Facebook, and Messenger account settings in one place, a new Accounts Center. This hub allows you to manage your preferences across all your Meta accounts from one place. The Accounts Center can be found in the settings menu on Facebook, Instagram, and Messenger. Once in the hub, you can adjust your account settings for any of Meta’s platforms. These settings include personal details, password updates, security, ad preferences, payments, and permissions for each app. Using the Account Center is optional as Meta does not add your accounts to the hub by default. Once added, accounts can be removed at any time. If you do decide to use the hub, your ad preferences will need to be kept the same across each app. Meta suggests managing your accounts separately if you prefer different ad settings.
Key Insights from TikTok in The What’s Next 2023 Trend Report
TikTok has released their trend forecast for 2023. These reports provide a road map for brands and marketers to get the most use out of the platform. The report sees the following emerging behaviors in 2023: providing actionable entertainment, making space for joy, and building community ideals.
Instagram Chief Says Photos Will Get More Focus on the App in 2023
Instagram’s chief Adam Mosseri made remarks as part of his weekly Q and A series, conducted in his Instagram Stories. He discussed how 2022 focused more on video and pushed ranking far and that in 2023 photos will become more of a focus, returning to its original roots.
Industry News
Microsoft Bing With ChatGPT Reportedly Launching in March
After a $1 billion investment from Microsoft in OpenAI in 2019, the two companies now plan to update Microsoft’s Bing search engine. The update will include AI from OpenAI’s ChatGPT chatbot to improve search results. The new search tool is expected to launch at the end of March.
Google Services to Offer More Accurate Information in Compliance with EU
Google will be making changes to its Google Store, Google Play Store, Google Hotels, and Google Flights to provide clearer information to its customers in compliance with the European Commission under consumer protection laws in the EU. Google Flight and Google Hotels will clearly distinguish between services and follow the same transparency commitments as other accommodation platforms like Booking.com and Expedia. Google Play Store and Google Store will provide customers with clearer information on delivery costs, right of withdrawal, and availability of repair or replacement options. Google has not announced when these changes will be made or if they will extend beyond the EU.
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