This Week In Social: July 25 – July 29

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Happy Friday everyone! In this week’s social media recap we take a look at Facebook VR, Google Ads, and Twitter streamers. As always, don’t forget to share, and let us know what you think in the comments. Have a great weekend!

Facebook’s Plans for Virtual Reality

This week’s Bloomberg BusinessWeek cover story takes a deep dive into Facebook’s plans for virtual reality. In 2014, Facebook acquired VR start up Oculus Rift for $2 billion, surprising many as the start up had perviously only been focused on VR in video games. At the F8 developer conference this April, Facebook made it clear why they acquired the VR technology with an onstage demo showing two friends hanging out in a virtual london, sharing photos and the sights. Facebook’s plan is to use VR to expand the reach of Facebook and attempt the make connections even more personal. Investments by Youtube, Facebook, and gaming companies have helped virtual reality burst into the mainstream consciousness. Why are so many of these tech giants investing in a technology that is still years away from mainstream use? Many view it as the next frontier, beyond both computers and the Internet, a new playground to innovate and change the way society works.

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Google and Facebook are Making the Vast Majority of Digital Ad Money

Google and Facebook both revealed their earnings this week, exceeding expectations in total revenue. Alphabet, Google’s parent company, reported a total of $19.14 billion in ad revenue with Facebook generating $6.24 bilion. The total spend on digital advertising in 2015 was $59.6 billion, showing that Facebook and Google together take in roughly 40% of all digital ad spend. Spend on digital advertising is expected to grow in the coming years but fears of ad fraud and ad blockers continue to shake up the advertising market. We’re interested to see how the market will evolve over the next few years as Facebook and Google continue to dominate and innovate.

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Twitter to Stream its First eSports Competition

Twitter announced that this weekend it will host the networks first esports live stream. The stream will feature players of the CS:GO tournament in Atlanta with the hopes of drawing more viewers that don’t have cable by targetting the large gaming community on Twitter.“ESports fans go to Twitter to see and talk about what is happening now in competitive gaming,” said Anthony Noto, Twitter’s Chief Financial Officer, in a statement about the new deal. “Gamers are one of the largest and most engaged audiences on Twitter, and we are thrilled to partner with Turner and WME I IMG to bring them the live content from Eleague and Twitter commentary they are already looking for, all on one screen.” This new feature is part of Twitter’s plan to grow its user base, similar to its deals with the NFL and the DNC/RNC streams the last couple of weeks. We’re interested to see how this plays out for Twitter and if these deals are really pulling in the growth they so desperately need.

Honorable Mention: