RSSThe Fall of Social Media
Many people are predicting that the fall of social media will be a swift one and the fall of facebooks reign will be one of the loudest thuds in internet history. I think so many people are trying to predict the fall of social media because of a few main reasons:
1) It hasn’t been properly monetized – There are lots of ways that companies are trying to monetize social media these days and there are no real easy ways to find a niche. Twitter came out with promoted tweets a while ago and that has been successful but in order for them to maintain a very high earning power over a long period of time they are going to need more ways to create additional revenue. Facebook has done a great job with it’s ad platform but hasn’t been able to capitalize on much more than that. Skype recently announced that its going to include advertising on most calls and it will be interesting to see if they see a decline in use because of that.
2) There has been little adversity – Most people love to use their social media platforms but haven’t felt a huge backlash yet because of privacy protections. Those protections could become very lax at some point and have a huge impact on users that always relied on their content being secure.
3) Facebook owns your content – Every personal conversation people have over chat or messages on Facebook is property of Facebook. At some point people may get wise to the fact they shouldn’t trust a company that has so much power with all of their personal information. Facebook has a loose moral structure and that has been proven by business deals they’ve made in the past.
Social Media is here to stay for a while but in order for it to be a safe product for consumers to use long term we will have make sure proper regulations are in place.