Be like a leading trio who gain plenty of users in COVID through Branding
Google, Facebook and Twitter have faced a massive drop in advertising revenues as the pandemic halted the functioning of all manner of businesses, except the delivery of essential goods. The first two months of the quarter, after which they dropped in March when the lockdown began.
While Google products are in greater demand, such as Google Meet for videoconferencing, YouTube for entertainment, Maps to locate nearby businesses selling essentials, Stadia for games, and most importantly Google’s Cloud Computing Service. Ads dropped as people could no longer travel or purchase non-essential products. YouTube revenue jumped 33 percent to $4 billion for the quarter, and Google’s cloud computing division shot up more than 55 percent to $2.8 billion, and Google’s “other revenues”, namely YouTube music and pay-TV services as well as Pixel and other hardware sales jumped 22 percent to $4.4 billion.
Meanwhile, fun fact, Google only began declaring its YouTube and Google Cloud revenues for the first-ever time in February after the US Securities and Exchange Commission demanded more transparency. Facebook is facing a similar problem. Ads make up the bulk of Facebook revenue but ad revenue was “flat compared to the same period last year”. Nevertheless, the social networking company reported a profit of $4.9 billion on revenue that grew 17 percent to $17.4 billion during the first three months of this year.
Facebook too notched up more users since the pandemic locked up people in their homes. Its monthly active users grew 10 percent to 2.6 billion while Instagram and WhatsApp users neared three billion. A bright spot amid the grim quarter for Twitter is that its user base jumped 24 percent by 14 million new users, with the total number of daily active users on the micro-blogging platform standing at 166 million. Advertising is general on all three tech-enabled platforms. Google, Facebook and Twitter are expected to slowly come back as restrictions on travel begin to ease in the coming months.
However, with tech-enabled services and social networking becoming all-important in a socially-distanced world, Google, Facebook, and Twitter are expected to bounce back within a few months. Besides, compared to major non-tech-enabled companies that have been devastated during the past quarter, one could say that the trio is thriving.
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