Facebook added 220 million monthly users in the past year, for a current total user base of 1.71 billion people. More than 90 percent of those users access Facebook via their mobile devices, where Facebook reaped 84 percent of its $6.2 billion in advertising revenue in the last quarter. The company saw 80 percent growth in Q2 from mobile ads, from an overall 59 percent growth rate in advertising. WhatsApp and Messenger, both of which have 1 billion users, are part of the company’s next move into video. Continue reading Facebook Touts Major Growth, Driven by Mobile Advertising

Facebook just put the blueprint and software for its 17-lens Surround 360 stereoscopic 3D camera on GitHub, fulfilling a promise the company made earlier to make the camera design, assembly instructions, control software and stitching software available for free. Facebook’s move is seen as an effort to enable more people to create 360-degree immersive videos. By open-sourcing the camera’s construction and operation, developers will be able to create products and speed up the development of the marketplace. Continue reading Facebook Open-Sources Designs for Surround 360 Camera

Google’s quarterly profit rose 24 percent, while revenue increased 21 percent to $21.5 billion, thanks in large part to its advertising and push into mobile, according to The Wall Street Journal. Google is also experiencing success with its cloud services division. Parent company Alphabet reported 33 percent growth of its non-advertising business over the previous year, surpassing Wall Street expectations. “The strength of the quarter is about mobile,” said Google chief exec Sundar Pichai. “Our investment in mobile now underlines everything that we do today, from search and YouTube to Android and advertising.” Continue reading Google Reports Strong Quarter Based on Strength of Mobile

To lure millennials to watch the Rio Olympics, which run August 5 to 21, NBC is enlisting 24 Internet celebrities to build buzz. For the first time, NBC is using a portion of its marketing budget on digital influencers such as German DJ/comedian Flula Borg, who has 779,000+ YouTube fans, to appear in videos with U.S. Olympic athletes, including Michael Phelps, Missy Franklin, Maya Moore and Claressa Shields. The YouTube celebrities tapped for videos have 120 million followers on YouTube, Facebook, Twitter, Instagram and Vine. Continue reading NBC Inks Deals with Digital Celebrities to Promote Olympics

Facebook is testing new mobile video features for its Android app, including subscription-based video channels and a dedicated video tab that incorporates video search, which would provide brands with the opportunity to target ads based on keywords. Enhancing the mobile viewing experience is the next step toward making the social platform more video-centric and ramping up competition with YouTube. However, Facebook needs to convince its users to watch video mixed with other content and, especially for advertisers, show successful video completion rates. Continue reading Facebook Takes Aim at YouTube with Mobile Video Features

Publishers have gravitated to sponsored content — stories, videos and podcasts that mimic journalistic content — to cope with rapidly changing online advertising. The Atlantic, Slate and The New York Times are among the publications that count sponsored content as a significant portion of their revenue. Companies such as Vice and BuzzFeed have created businesses centered on focused content. But the definition of sponsored content is shifting as viewers move from news sites towards Facebook and other social media platforms. Continue reading How Sponsored Content Transforms as It Moves to Facebook

Twitter announced lackluster Q2 earnings, with $602 million in revenue for a net loss of $107 million. While the company improved over Q2 2015, when it lost $136.6 million, and monthly active users increased from 310 million to 313 million, its numbers fell short of Wall Street expectations and the company’s stock dropped more than 10 percent in after-hours trading. Despite new deals for live-streaming sports in the near future, the platform is not keeping up with the growth of social rivals such as Facebook, WhatsApp, Messenger, Snapchat and LinkedIn. Continue reading Twitter Struggles with Worst Quarterly Revenue Growth Ever

Twitter is looking to strengthen its status as a social destination for sports fans by striking deals with Major League Baseball and the National Hockey League to host live video of games for users who are in out-of-market regions. The move follows a similar agreement with the National Football League that will bring “Thursday Night Football” to Twitter this fall, a partnership with the National Basketball Association to live-stream original programming (but not games), and deals with Pac-12 Networks and Campus Insiders to stream college sports during the 2016-2017 season. Continue reading Twitter Continues its Push to Become Live-Streaming Service

J.P. Morgan Chase, Wells Fargo and other banks just introduced real-time person-to-person payments — something PayPal’s Venmo has done for years — to their five year-old joint effort clearXchange. Previously, clearXchange could take up to three days to transfer money. PayPal upped its game, by signing a deal with Visa to let Venmo and PayPal app users instantly access monies they receive. PayPal and the banks collect no fees on these transactions, which they regard as a gateway to other, paid services. Continue reading Banks Make Move to Real-Time Person-to-Person Payments

Verizon announced it would acquire Yahoo’s core operating business in a $4.83 billion cash deal expected to close in the first quarter of next year. Yahoo will join Verizon’s growing stable of digital properties, including AOL, which it purchased last May for $4.4 billion. The deal should help Verizon ramp up its mobile efforts and combine AOL’s ad tech with Yahoo’s online sites and services. AOL chief Tim Armstrong and Verizon exec Marni Walden spearheaded the deal. “This culminates a rigorous, thorough process over many months, and yields a great outcome for the company,” wrote Yahoo CEO Marissa Mayer in a letter to her employees. Continue reading The Wait Is Over: Verizon Will Acquire Yahoo for $4.83 Billion

Jukin Media has created a business model that leverages social media and the financial possibilities involving viral videos. The company searches for popular online videos, pays the video creators, “and then licenses clips out to digital media companies, brands and morning news shows,” explains The Wall Street Journal. “Think of it as Getty Images for viral videos,” said Jukin CEO and founder Jon Skogmo, who has also launched social channels that feature the unique content. The clips are becoming popular for advertising as well. “Brands are very attracted to this type of user-generated content,” said Skogmo, “especially when they’re seeing everyday people playing with their products.” Continue reading Jukin Media Creates Variety of Opportunities for Viral Videos

Facebook’s messaging app Messenger just reached a landmark: one billion people use it every month, says the Silicon Valley company. Facebook’s other messaging app — WhatsApp, which it acquired for $19 billion two years ago — is the most used messaging app in the world, passing the one-billion user mark in February, likely growing further since. Facebook chief executive Mark Zuckerberg says each messaging app is distinct. The company goal is to make messaging, not apps, its primary computing interface. Continue reading Facebook Messenger Passes the One Billion User Milestone

For 13 years, San Francisco-based Linden Lab has been presiding over Second Life. Now, the company is about to create a virtual reality network, dubbed Project Sansar, to provide an environment for individuals and businesses to experiment in VR. Sansar has been constructed to be incredibly scalable and immense, which could be either exciting or daunting to potential users. Linden Lab hopes it’s the former, and that people will use Sansar to build innovative VR worlds for problem-solving and social interaction. Continue reading Second Life Creators to Launch Virtual Reality Project Sansar

Last month, Facebook announced it would pay $50 million to 140 media companies and celebrities to create videos for Facebook Live. What’s getting attention now are the 15 percent of those recipients who are Internet celebrities popular on platforms such as YouTube, Vine, Snapchat and Instagram. Those celebrities will reap approximately $2.2 million over the next few months to focus their video broadcasts on Facebook Live rather than competing sites. As of yet, Facebook hasn’t determined how to generate revenue from Live. Continue reading Top Internet Celebrities Paid to Make Move to Facebook Live

For the first time, Internet video pioneer YouTube has had to take into account that its dominance is being challenged, most notably by Facebook, Snapchat and Amazon. Now, YouTube has more than a billion users, an app audience of 18-to-49-year-olds that dwarfs that of any U.S. cable network, and an average mobile viewing session more than 40 minutes long. To keep ahead of the competition, YouTube has diversified, with apps devoted to specific niche audiences: YouTube Music, YouTube Kids and YouTube Gaming. Continue reading YouTube Faces Rivals, Diversifies to Capture Niche Audiences