Meta has announced a raft of changes after the company posted a dismal earnings report where net income stood at the lowest it’s been since 2019.
The company has now announced a range of measures that it intends to take to boost revenue and calm concerned shareholders.
First, Meta is looking to emulate the success of platforms like TikTok by improving its AI discovery tools. This is intended to display more relevant content to users, even if the content is from creators they don’t follow.
Next, the company intends to put more emphasis on personal messaging between users, as it has seen the frequency and popularity of public posts fall. Meta is looking at ways in which it can monetize messages, with measures including allowing businesses to send ads directly as DMs being considered.
Meta is also looking to rework its AI and machine learning tools to optimize ad targeting, in an effort to adhere to the new privacy updates from Apple. This could have a significant impact on advertisers, they will have less control over targeting specific demographics, with the plans meaning AI will do most of this process.
Finally, the company is committed to further developing its virtual reality and augmented reality technologies, as it seeks to continue expanding and promoting the metaverse.
