Twitter: The Age Of Turbulence
Twitter has been on the cutting edge of celeb news, raging opinions & political uprisings since it’s start in 2006. Thanks in large part to Twitter, we now take to the internet to blast out our opinions and spread the word on current topics, all while consuming up to the second news updates on conflicts overseas. Twitter is an amazing tool.
Twitter’s User Base
Twitter’s growth has been one driven by the culture. Celebs still to this day play a large part in Twitter’s on-going use throughout the news/media. Check Yahoo on any given day and you will find a few “stories” based entirely on a twitter post from a Kardashian. Our Gossip media culture thrives on the direct connection to Celebs & other higher profile individuals using Twitter as their means of expression and often press announcements. Data from Statista shows Twitter’s active user growth hit a wall around mid 2014. Since then, slight if not negative user growth has taken place. To be fair, 300 million users is a massive amount of active voices. This level of involvement across the world should be celebrated.
In early 2016, top execs at Twitter: Katie Jacobs Stanton, Kevin Weil, Alex Roetter, and Brian ‘Skip’ Schipper all chose to leave the company at the same time. You may remember the media had a field day with this. Why do 4 top execs leave positions at one of the best social media companies in the world? The media jumped to a high amount of speculation and Twitter has not faired well since.
Jason Toff, who was the head of Twitter’s streaming service, Vine, tweeted that he was also leaving Twitter to join Google to work on virtual reality. We can assume that didn’t go over well for Jack Dorsey as Dorsey’s parting tweet did not mention Jason.
Since the news of these execs leaving, Twitter has been on a negative decline both in the media and on the stock market. There have been numerous doomsday articles predicting how bad Twitter could get within the next year. All of which are based almost entirely on Twitter’s struggle to generate new income from its current user base of 300+ million. We are not entirely sure Twitter has a problem with its user base as opposed to its investors expectation for monetary growth. However in a time where Facebook & Snapchat are on track to reach the billion dollar mark in profit, Twitter has become the poster child for a failing company. As we write this article, MarketWatch has released a statement which reads “Twitter’s stock on track for biggest one-day percentage decline since April 2015“. As we speak, Twitter stock has fallen $4.95 since the opening bell this morning. This coming in direct correlation to negative news that a possible buy-out from Google + others has been declined.
Twitter is still the strongest as an announcement platform, especially since the 140 character limit has been modified. Where other platforms like Instagram have taken over the visual media space, Twitter continues to dominate the text based announcement. Twitter is more effective than a typical press release and allows the entire web to reply, creating a conversation directly connected to the origin. Very few platforms have the same direct connection & accountability as Twitter. Jack Dorsey recently said “We’re not just a push-live broadcast mechanism; we’re a conversation“. Dorsey has been working hard to bring new interactive content to the platform. Just recently, it was announced that Twitter would live stream 10 Thursday night NFL games in 2016. Small steps like these show real reasons why Twitter may end up becoming the source for true interactive conversation based events.
If Twitter can hold down the fort and manage to stay above water with the stock market, we see great things 2-3 years out for the new face of Twitter.