Social Media Daily News Roundup 31.01.19

Your daily social media news rounded up in one place so you don’t have to go anywhere else!

🍌Facebook dominating the news this this morning as they post record profit of 6.9 billion
🍌Facebook planning new products as instagram stories hit 9M per day
🍌Fake social media activity firms settle with New York State
🍌Facebook hires up three of its biggest privacy critics
🍌Fighting the Instagram Authenticity Battle in Influencer Marketing
🍌Facebook could be forced to share data on effects to the young.

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Facebook posts record $6.9 billion profit despite privacy scandals

Facebook's endless PR crises don't appear to be hurting its bottom line.

The company posted a record $6.9 billion profit for the final three months of 2018 -- a jump of 61% from the same period a year earlier and well ahead of Wall Street estimates.

Facebook's revenue for the quarter rose 30% to $16.9 billion, according to its latest earnings report released Wednesday.

Its user numbers remain impressive as well. Facebook  now has 1.52 billion people who use the social network every single day, and 2.32 billion who use it every month, both of which are up 9% from the year prior.

Firms that sold fake social media activity settle with New York state

These fake accounts, which help artificially boost the popularity of certain accounts, "have been running rampant on social media platforms," James said.

Facebook plans new products as Instagram Stories hits 500M users/day

Roughly half of Instagram’s  users 1 billion users now use Instagram Stories every day. That 500 million daily user count is up from 400 million in June 2018. 2 million advertisers are now buying Stories ads across Facebook’s properties.

Facebook could be forced to share data on effects to the young

Social media firms should be compelled to protect users and legislation is needed, find MPs

Facebook hires up three of its biggest privacy critics

FOR YEARS, CRITICS have taken aim at Facebook's privacy missteps, from the Cambridge Analytica scandal to this week's revelation that Facebook has paid people—including minors—to let it spy on all of their online activity, potentially even including their encrypted private messages. Which makes it a potentially very big deal that over the last several weeks, the company has quietly hired three prominent privacy advocates, all outspoken critics, ostensibly to help right the ship.

Mavrck Announces New Forecasting Capabilities to Predict Influencer Marketing Performance (Press release)

Mavrck, the advanced, all-in-one influencer marketing platform, continues its momentum in the New Year, releasing new forecasting capabilities that will help marketers to modernise the goal-setting process by forecasting outcomes and predicting the results of influencer marketing campaigns before they kick off. 

Fighting the Instagram Authenticity Battle in Influencer Marketing

Everyone wants to be popular online. Some even pay for the privilege, using bots to falsely inflate their followings in a bid to gain paid brand partnerships. Those who have, are right to be nervous. Following Keith Weed’s high profile announcement that Unilever would no longer be working with influencers with fake followings, all eyes were on the validity of social followings in 2018. It dominated the conversation around Influencer Marketing. Instagram has since promised to crack down on paid-for followers and likes on their app.

Lucy Hall