Quibi founder Jeffrey Katzenberg ultimately blamed the COVID-19 pandemic for the failure of his short-form video app, but maybe it was just too soon.
In the first quarter of 2024, 66 short drama apps like ReelShort and DramaBox pulled in record revenue of $146 million in global consumer spending.
In March 2024 alone, consumers spent $65 million on short drama apps, a 10,500% increase from the $619,000 spent in March 2023.
In Q1 2024, short drama apps were installed nearly 37 million times, up 992% from 3.4 million in Q1 2023.
Short drama apps claimed a 6.7% share of the total across all three categories combined, up from 0.15% a year ago.
YouTube is launching a version of Shorts that’s only for members, allowing creators to share short-form videos exclusively with their paying viewers.
The new feature gives paying subscribers access to additional content, on top of their current membership perks, which include things like custom emojis, badges, livestreams and more.
YouTube says creators can use the new option to share a special announcement, product drop or limited-time deal.
The expansion means regular creators will be able to post exclusive videos that only paying subscribers can view.
The exclusive content will be displayed with a star icon, indicating that it’s only available to paying subscribers.
Instagram is developing an opt-in “Friend Map” feature that would allow users to see their friends’ locations in real time, a Meta spokesperson confirmed to TechCrunch on Monday.
Instagram would also be coming for Apple and its “Find My” map feature that lets users see where their friends and family are currently located.
According to screenshots posted on Threads by Paluzzi, Instagram’s Friend Map would allow users to choose who can see their location.
Post by @alex193a View on ThreadsThe Friend Map would allow users to leave short messages, or “Notes,” on the map for others to see.
After cutting into one of Google’s core businesses, Instagram may now be looking to take on Snapchat and Apple with its Friend Map.
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Instagram is launching the ability for users to post video Notes, the company announced on Wednesday.
Up until now, you could only post text or emojis to your status update.
Now, you can post a two-second looping video Note that will be visible to your mutual followers or Close Friends for 24 hours.
Another differentiator between video Notes and video Stories is that you can only post content from your front-facing camera when sharing video Notes.
Plus, you have to capture the content in the app when posting a video Note, which means that you can’t upload a video from your phone’s camera gallery.
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