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Meta Platforms: Difference between revisions
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== Instagram == | == Instagram == | ||
June 27, 2023: Analyst Ronald Josey of Citi maintained buy rating on Meta Platforms and raised price target to $360 from $315 while pointing out that<ref>https://seekingalpha.com/news/3983118-meta-platforms-rises-citi-instagram-engagement-monetization-improving</ref>; | |||
* Though Instagram's app downloads were around 12% below that of TikTok this quarter, its monthly active users rose 6% year over year versus a 4% gain in TikTok's users. | |||
* Though time spend on TikTok per monthly active users outpaces that of Instagram users by 41%( TikTok:31 hours, Instagram: 22 hours), growth in time spend per active users of Instagram has outpaced TikTok for a 7th consecutive month. | |||
* Reels ad-load has hit 17% quarter-to-date and 18% this month. | |||
* He believes advertising market is now "stable-to-improving". | |||
* Josey believes advertising revenue will grow by 14% year over year in 2024 and Reels will account for around $10.5 billion in ad revenue. | |||
May 19, 2023: Instagram is planning to release a twitter-like app in summer. People familiar with it said the company is currently testing the app with celebrities and influencers. It's currently in the process of testing it with celebrities and influencers. According to people familiar with it, the app will be separate from Instagram<ref>https://www.bloomberg.com/news/articles/2023-05-19/instagram-readies-twitter-competitor-for-summer-release</ref>. | May 19, 2023: Instagram is planning to release a twitter-like app in summer. People familiar with it said the company is currently testing the app with celebrities and influencers. It's currently in the process of testing it with celebrities and influencers. According to people familiar with it, the app will be separate from Instagram<ref>https://www.bloomberg.com/news/articles/2023-05-19/instagram-readies-twitter-competitor-for-summer-release</ref>. | ||