This Week on Social - Meta is Spending Big Bucks, Pinterest is Ready for Summer, TikTok's Latest Competition

Each week, the insights team at The Goat Agency pull together the latest news from the social space in a weekly social media news round-up. 👩🏻💻

This week we look at Meta spending thousands of dollars to get creators over to the Threads app, Pinterest releases their Summer Travel 2024 report, we discuss if Coachella is relevant again, and so much more...

Don't Miss This Week's Headlines!

(1/5) Meta has Money 💰

Meta is offering high-profile creators financial incentives, up to $5,000, to post on its Threads app to boost in-app engagement.

Creators who receive over 10,000 views for a single post on Threads may be eligible for a payout. The Threads bonus program is invite-only, and Meta selects creators to participate. Invitations are sent through pop-up notifications or the Professional Dashboard on the Instagram app.

The program targets highly popular creators who haven't yet joined Threads.

Meta has been actively promoting Threads, making deals with celebrities and sports teams to boost interest. Threads has gained 20 million users since February, totaling 150 million monthly active users.

Meta aims to create a positive experience on Threads by moving away from politics and resisting real-time trends to attract users seeking a real-time social media app.

The influx of prominent stars and their audiences may stimulate Threads' growth further.

(2/5) Summer Vibes But Make it Pinterest 📌

Pinterest has released new insights into travel for 2024 with their 'The Pinterest Summer 2024 Travel Report'.

Pinterest remains a crucial platform for travel-based research, with over one billion travel-related searches and 10 billion travel saves in one year.

Eight out of ten weekly Pinterest users turn to the platform when planning their summer trips, indicating its importance for holiday-themed opportunities.

Emerging Travel Trends for 2024:

"Adventure travel" is gaining traction, with increased searches for activities like scuba diving photography, mountaineering, adventure camping, and caving.

Quiet and solo travel preferences are also rising, including interests in glamping, wellness retreats, cabins in the mountains, and national parks.

Pinners are seeking mysterious destinations, with searches for haunted places, ancient cities, and surreal locations witnessing a surge in interest.

Road trips are popular, with searches related to road trip outfits, essentials, and snacks experiencing notable increases.

For more insights, check out their report!

(3/5) Snaps for Snapchat 👻

Snap Inc. 's Q1 has been showing positive stats for the social app.

Snapchat saw a steady increase in users, reaching 422 million daily active users, an increase of 8 million users from the previous period. However, user growth in the key revenue markets of the U.S. and EU remained flat, signaling a need for increased focus in these regions.

Snapchat's subscription offering, Snapchat+, has seen significant growth, reaching 9 million paying members and generating additional revenue for the platform.

Snap reported a revenue increase of 21% year-over-year, driven by improvements in its machine learning models benefiting ad partners. The number of small and medium-sized advertisers on Snapchat increased by 85% year-over-year, attributed to a simplified ad creation process.

Snapchat expects to reach 431 million daily active users in Q2, with revenue guidance between $1,225 million to $1,255 million, indicating a growth trajectory for the platform.

(4/5) TikTok STEM Competition 🔬

TikTok has launched a STEM content competition coinciding with Earth Day, encouraging users to create and share STEM-related videos on the platform using the hashtag #STEMTok.

Participants can submit their STEM communication videos to TikTok's STEM feed, with winners selected by a judging panel based on requirements outlined in the competition clip and entertainment value.

TikTok's initiative to promote educational content aligns with its broader efforts to showcase the platform's value beyond entertainment.

The STEM feed was initially launched for U.S. users and recently expanded to European users. The competition is open now until May 31st, offering users the opportunity to participate and showcase their knowledge of STEM topics.

(5/5) Is Coachella Relevant Again? 🎡

Coachella is changing. In the lead up to this year’s festival, slow ticket sales and noticeably less festival-themed content on social media had many worried that it could be losing its grip on pop culture.

But as Coachella wraps up, the headlines paint a picture of free-spirited festivities, celebrities enjoying themselves, and scaled back influencer collaborations.

So, what happened at Coachella 2024 to swing the narrative?

Find out in our latest Goat blog: THE COACHELLA REVIVAL: IMPACT OF INFLUENCER MARKETING ON COACHELLA

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And that’s all for this week, but don’t forget to follow us on LinkedIn and Instagram for real-time announcements of all our new blog content!