Hope you like rollercoasters, because this one’s got some fast turns…
Clanking up: Meta just released its Q1 earnings reports, and things look mostly good.
Ad impressions increased by 20% across all apps, and ad revenues were up 27% year over year (YoY), so presumably marketers are seeing decent results from their campaigns.
Of course, the average cost per ad also went up 6% YoY. Maybe you’ve noticed.
New metric alert: Apparently Meta is no longer reporting “daily active users” or “monthly active users,” for better or worse. Instead it’s going with family daily active people (DAP). Say that five times fast.
DAP has gone up by 7%, which suggests a significant number of people use its apps everyday, and the number is rising. Good news.
Now for the big drop: It’s official—TikTok will be banned in the US unless it’s sold.
The US Senate approved it, and President Biden has signed the ban into law.
That means unless another Elon Musk type of person shows up to buy the platform, marketers and creators have to jump ship within a year. Oof.
Swinging up: TikTok plans to fight the ban, of course. CEO Shou Zi Chew said “we aren’t going anywhere” and feels confident the app can win in court.
Either way, sounds like you have some big decisions to make…
And back down: Also, TikTok is pausing its Lite version until it resolves EU concerns over the addictive nature of its rewards program.
… And we can get off now. What a ride, huh?
