Big Tech made a showy return this week, offering some comfort for creators seeking a sign of stability from legacy platforms like YouTube and Instagram, the latter of which has alienated some users with its flip-flopping priorities (to Reel or not to Reel?) as it competes with TikTok. That was the message from YouTube and Meta’s quarterly earnings this week, where both companies—coming off months of slower growth plagued by a lackluster digital ad market—reported better-than-expected results for the second quarter that ended on June 30.
But Snapchat parent company Snap, often seen by Wall Street as the canary in the coal mine for the digital upstarts, didn’t fare as well in its earnings call. Despite seeing growth in its user base and nascent subscription offering, Snapchat+, Snap reported a continued drop in sales for the quarter. It offered a weak forecast for Q3, raising questions about the company’s ability to keep up with its social media peers.
As creators are simultaneously courted and cast aside by the major social media platforms, this week’s Snap, YouTube, and Meta earnings help shed light on the latest priorities for some of the biggest media companies dictating the livelihoods of millions of content creators. …
