Connect with us

Mobile

instant Promote ads for Stories – TechCrunch

Published

on

Instagram hopes dollars from the long-tail of small businesses and social media stars can help it pull its weight in the Facebook family. A new ad type called “Promote” for Stories allows Instagram business pages to show their ephemeral slideshows to more users without doing much work. Admins can choose to auto-target users similar to their followers, people in a certain location, or use all of Instagram’s targeting parameters to inject their Story into the Stories queue of more users as an ad that can also link to business’ Instagram profile or website.

Instagram confirms to TechCrunch that Promote for Stories works similarly to Facebook’s Boost option that lets them pay to instantly show their feed posts to more users. “I can confirm that we are testing this feature globally. We don’t have an immediate timeline for 100 percent rollout, but will keep you posted” an Instagram spokesperson told me. Screenshots of Promote were first shared by social consultant Matt Navarra.

Instagram tests new Promote Stories ads. Image Credit: Matt Navarra

Instagram already has 2 million active advertisers, compared to Facebook’s 6 million. But designing and targeting ads, especially full-screen video Stories ads, can be daunting to small businesses and public figures. Promote offers an easy way to turn their existing Stories into ads.

The feature could unlock more spend at a crucial time when Facebook’s revenue growth is in massive decline. It dropped from 59 percent in Q3 2016 to 49 percent in Q3 2017 to 33 percent in Q3 2018 as it hits saturation in lucrative developed countries and runs out of News Feed space. Facebook warned Wall Street about revenue deceleration, as sharing shifts from feeds to Stories and advertisers have to adapt, but turning local merchants and influencers into paying customers could smooth that transition.

Instagram Analytics Launches In Beta

In other Instagram business news, today it launched Instagram Analytics in beta as part of Facebook Analytics. The tool goes beyond Instagram’s existing Insights tool that just counted different types of engagement with an account and its content, such as new followers, website clicks, post impressions and Story exits.

With Instagram Analytics, business accounts can track life time value and retention rates for people who do or don’t interact with their content, and create audience segments to see if people who commented on a particular post generate more value for them. They can also analyze how their Instagram audience overlaps with people who visit their site, download their app or like their Facebook Page.

The more Instagram analytics businesses have access to, the better they’ll be able to prove that their investment in the platform is paying off. Being able to see exactly how followers move through a conversion funnel will result in higher confidence in campaigns and translate into more ad and content spend.

IGTV hopes for virality with Stories previews

And there’s one final piece of Instagram news for the day. IGTV hasn’t quite blown up like Instagram Stories since launching in June, but a combination could bring some much needed attention to the app’s longer form video hub. Instagram today launched the ability to share a preview image of an IGTV video to your Instagram Story. Friends can tap through to actually watch the full video on IGTV.

The IGTV previews don’t actually play, they’re just a static sticker. Shazam launched its own Instagram Stories integration today that works similarly to the IGTV previews, as well as SoundCloud and Pandora’s partnerships. Shazam lets you share a preview image of a song to your Instagram Story, but to actually hear any music you have to click through to Shazam. That makes these integrations inferior to Instagram’s own native music-sharing feature that actually lets you add a soundtrack to your Stories that friends can hear as they watch.

Shazam now can share song preview images to Instagram Stories, but you have to tap through to hear anything

IGTV has also recently added a History tab that shows what you’ve recently watched. This could be helpful for getting back to your favorite clips or jumping to a new episode of a show you’re hooked on.

Facebook CEO Mark Zuckerberg said on Tuesday’s earnings call that “People really want to watch a lot of video”, and the company plans to invest more in premium Facebook Watch content. But so far, it’s niether publicly announced any deals to pay for IGTV content, nor has opened any direct monetization options to creators. With viewership taking time to grow, there just aren’t enough incentives for creators to invest in producing polished, longer-form vertical video when there’s nowhere else to put it but IGTV. Virality through these previews could convince them there’s big fan-base growth opportunities available if they stick with IGTV.

These updates show that the departure of Instagram’s co-founders hasn’t slowed down the company’s innovation. Former Facebook News Feed VP Adam Mosseri kept up a brisk pace of product launches, and now with Instagram he seems determined to keep users, creators and businesses glued to what’s quickly becoming the social giant’s premier property.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.

Mobile

Former MoviePass execs are being sued by the SEC for lying to customers • TechCrunch

Published

on

Ahead of the official relaunch of subscription-based movie ticketing service MoviePass, the Securities and Exchange Commission (SEC) filed a complaint against three of its former executives, claiming they lied to investors and the public.

The SEC filing targeted former MoviePass CEO Mitch Lowe and Ted Farnsworth, the former CEO of parent company Helios and Matheson Analytics (HMNY), claiming they lied about how it planned to be profitable and used “fraudulent tactics to prevent MoviePass’s heavy users from using the [unlimited subscription service],” the SEC wrote.

When under the rule of Lowe and Farnsworth, MoviePass promised users a $9.95 per month subscription that would give them an unlimited number of 2D movie tickets. However, MoviePass quickly kissed “unlimited” goodbye, ending the service that was likely losing a lot of money. The company filed for bankruptcy in 2020.

Last year, Farnsworth and Lowe settled with the Federal Trade Commission after MoviePass was accused of preventing users from using the subscription service they were paying for.

The original founder and owner of MoviePass, Stacy Spikes, hopefully won’t repeat the mistakes of its previous owners. Spikes is launching an updated version of MoviePass, which is currently beta testing in three markets: Chicago, Kansas City, and Dallas. However, there will be no such thing as unlimited viewing, and instead MoviePass will have three subscription price tiers with set limits ranging from $10, $20, and $30 per month.

Continue Reading

Mobile

Netflix shares trailer for Spotify series ‘The Playlist’ • TechCrunch

Published

on

Netflix released the official trailer for “The Playlist” today, an upcoming limited series that loosely tells the story of how Spotify was created. The six-episode show will premiere on October 13.

“The Playlist” will center around Spotify founder and CEO Daniel Ek, played by “Vikings” star Edvin Endre and how the company became one of the top music streaming services.

The show will also feature other Spotify employees, such as Petra Hansson (played by Gizem Erdogan), Andreas Ehn (played by Joel Lützow), and Christian Hillborg will play the co-founder of Spotify, Martin Lorentzon.

However, it’s important to note that the show is “fictionalized,” Netflix writes in the caption, and is based on 6 “untold stories.”

There are many fictionalized movies and shows about big tech companies. For instance, Apple TV+ has a drama series “WeCrashed” based on WeWork; Showtime released “Super Pumped: The Battle for Uber” starring Joseph Gordon-Levitt, Hulu’s “The Dropout” is based on the health tech company Theranos, and no one can forget the 2010 Facebook movie “The Social Network.”

Spotify launched in 2006 as a small Swedish start-up and was a response to the growing piracy problem in the music industry. Now, the music streaming service has 433 million monthly active users.

Continue Reading

Mobile

• TechCrunch AmazeVR wants to scale its virtual concert platform with $17M funding

Published

on

AmazeVR, a Los Angeles-based virtual concert platform, said Tuesday it has raised a $17 million funding round to create immersive music experiences through virtual reality (VR) concerts.

Like other industries, the entertainment sector was affected by the coronavirus lockdown. Many music artists had to cancel or push back their live events during the pandemic. Some artists and music agencies have shifted to virtual or online concerts to compensate for those canceled events. AmazeVR is betting that virtual shows, which have become popular among artists and fans since the pandemic, are going to take over the entertainment industry.

Mirae Asset Capital led the Series B round along with returning backers, including another Mirae Asset Financial Group subsidiary (Mirae Asset Venture Investment), CJ Investment, Smilegate Investment, GS Futures and LG Technology Ventures. New strategic investors — Korean entertainment giant CJ ENM and mobile game maker Krafton — participated in the latest round.

“The virtual reality entertainment industry is growing rapidly, and we believe that music and gaming are two of the most promising sectors for future development,” said a spokesperson at CJ ENM.

AmazeVR co-CEO Steve Lee said that his startup plans to use the financing to expand partnerships with artists and their management agencies, labels and publishers. He added that it is currently in talks with potential partners to work with top artists in the U.S.

The startup is preparing virtual concerts and a music metaverse service that would be available across all major VR app stores and work with next-generation headsets such as the Meta Quest Pro and Apple’s own rumored VR headset, Lee continued.

The Series B funding round comes in the wake of the startup’s joint venture announcement with K-pop agency SM Entertainment in July. Both companies plan to launch Studio A in South Korea and produce immersive VR concerts.

“We’re also preparing to produce virtual concerts with SM Entertainment artists and expand to other K-pop companies in South Korea,” Lee said. “We plan to hire more artificial intelligence engineers, [Epic Game’s] Unreal Engine engineers, and visual effects (VFX) artists” to continue the advancement of its technology and the development of premier virtual concerts.

The company’s goal is also to broaden content diversity in order to bring more VR concert fans around the world.

The AmazeVR team traveled to 15 U.S. cities this summer for its first commercial virtual concert, Enter Thee Hottieverse, a tour with rap icon Megan Thee Stallion through AMC Theaters. Lee told TechCrunch that the company had about 75% attendance rates for its concerts, about 4.3 times the average theater occupancy rate estimated at 15%-20%. The ticket prices were $20-$25, ~2.5times more expensive than the average movie theater ticket price (~$9.17).

“CJ ENM plans to convert concerts and music TV shows to VR music experiences with AmazeVR’s prime technology, and additional original content such as dramas and movies in the future to maximize their content value and business opportunities,” the spokesperson of CJ ENM said.

The last time TechCrunch covered AmazeVR was earlier this year when it secured $15 million. Its Series B round brings the startup’s total amount raised to approximately $47.8 million. The Los Angeles-headquartered startup with offices in Seoul now has 62 members on its team.

Continue Reading

Trending