Wednesday November 20, 2019
Home Lead Story Facebook&#821...

Facebook’s Push to Become China’s WeChat May Kill it

As people become increasingly aware of social media’s harm, social media will lose its lustre

0
//
facebook, christchurch attack, new zealand
FILE - The Facebook logo is seen on a shop window in Malaga, Spain, June 4, 2018. (VOA)

Facebook which accounts for 75 per cent of global ad spend that is likely to hit $110 billion by 2020 is nowhere near an immediate demise and government regulations would only strengthen the social networking giant in the short term, a new Forrester research has forecast.

However, Facebook’s push to become China’s WeChat — more than a messaging app and is full of capabilities to make life easier for its one billion users — would be its undoing.

Facebook‘s no-good-very-bad 2018 may have meant an overworked PR team but the social media behemoth is doing just fine.

It continues to report steady user and revenue growth: a 9 per cent year over year increase in users in Q4 2018 and a 30 per cent increase in revenue in the same time-frame.

“The three parties that could impact Facebook the most — users, brands and regulators — will move too slowly for it to feel any instant impact,” said Jessica Liu, Senior Analyst, Forrester.

The coming years won’t be easier, but the social media behemoth won’t suddenly collapse either, as many predict.

facebook
FILE – The logo for Facebook appears on screens at the Nasdaq MarketSite, in New York’s Times Square, March 29, 2018. VOA

“But while Facebook’s short-term outlook might be fine, its long-term outlook is bleak,” Liu added

Despite constant negative news last year, Facebook continued to report strong quarter-

over-quarter user and revenue growth. Brands that mishandle their own users’ data and fail to inform them typically falter.

While these users and advertisers could affect change at the social media giant immediately, they won’t, thus allowing it to continue to defy the odds.

“Enacting and enforcing regulation takes so long that Facebook will be able to shore up its assets and unique advantages in the short term and eliminate any vulnerabilities before serious user, advertiser, or regulatory changes materialize,” Liu emphasised.

The social networking giant with over two billion users globally, is facing regulatory challenges as the Cambridge Analytica scandal has exposed its lapses of data privacy and security.

facebook, personal data
FILE – A man poses for a photo in front of a computer showing Facebook ad preferences in San Francisco, California, March 26, 2018. VOA

The downfall for Facebook, said Liu, would come with its desire to build an all-inclusive social media experience, as its CEO mark Zuckerberg is planning to merge all apps like Messenger, WhatsApp and Instagram into one.

“Facebook’s hope to recreate WeChat, China’s largest messaging app turned all-in-one portal

to the Internet, presents long-term challenges,” Liu added.

WeChat primarily operates in a single country’s political and regulatory environment.

Also Read: South Korean Tech Giant Samsung Launches 2 New Tablets in India

“Facebook will need to tack on products and services to fulfill its one-app vision while global regulators threaten antitrust. It will also grapple with protecting user privacy globally while appeasing advertiser appetite for hypertargeting,” Liu noted.

As people become increasingly aware of social media’s harm, social media will lose its lustre.

“History has taught us that existing apps max out and then decline as users tire of the services or the company (like AOL, MySpace, Friendster). The Facebook app is already experiencing this; Instagram and WhatsApp will follow in a natural peak and then eventually decelerate, too,” Liu commented. (IANS)

Next Story

Social Media Giant Facebook Rolls Out Meme-Making App ‘Whale’

Facebook has quietly rolled out a meme-making app called 'Whale' on the Canadian App Store

0
Facebook
Facebook quietly launched meme-making app Whale. Pixabay

Social media giant Facebook has quietly rolled out a meme-making app called ‘Whale’ on the Canadian App Store that may come to other markets including in India later.

The app’s listing confirms that it has been developed by Facebook’s New Product Experimentation (NPE) team, which was set up earlier this year to develop new experimental apps for the social networking platform that has over 2.6 billion users globally.

‘Whale’ is the latest app from NPE, after music app ‘AUX’ and chat app ‘Bump’, reports The Information.

According to Facebook, these apps are intended to help the company discover new features and services that people like.

Facebook- Whale
According to Facebook, these apps are intended to help the company discover new features. Pixabay

Facebook is slowly launching apps in new genres beyond chats to woo more users and open new avenues to make money.

Facebook-owned Instagram has also launched a new video-music remix feature called “Reels” to take on Chinese short video making app TikTok.

Also Read-TikTok Owner ByteDance To Launch Its Own Music Streaming Service

“Just like TikTok, users can soundtrack their ‘Reels’ with a huge catalog of music, or borrow the audio from anyone else’s video to create a remix of their meme or joke.

Rolled out in the Brazilian market first, “Reels” will be available on both iOS and Android. (IANS)