July 11, 2024
Welcome to The L@B Report
Welcome to this month’s issue of The L@B Report from GSG, bringing you news and insights from the intersection of digital media and public affairs. In this issue, we discuss why LinkedIn has become the preferred social media platform for public relations professionals, the latest advertising trends and policy updates from X, and the one-year anniversary of Threads.
In the News
LinkedIn Topples X as the Most Useful Social Media Platform for Public Relations Professionals
Only 10 percent of PR professionals report using X for outreach
LinkedIn has become the most useful social media platform for public relations professionals according to Muck Rack’s latest State of PR report.
Muck Rack surveyed 1,116 communications professionals from April 4 to May 10, 2024, and found that most planned to use LinkedIn as their preferred social media platform – more than X, Instagram, Facebook, and TikTok combined.
Takeaway
X has historically served as a key resource for both journalists and PR professionals – but that was before Elon Musk took over the platform and made major changes, including taking away blue check marks for verified sources, such as journalists.
According to the report from Muck Rack, only 10% report using X for outreach, below even phone calls and text messages, while 61% plan to increase their LinkedIn use.
Here at the L@B, we can confirm the shift to using LinkedIn to engage reporters – we’ve also seen success running targeted ad campaigns on the platform to reach them.
Despite Some Advertisers Finding Success, X’s Ad Revenue Plummets
X also makes formal policy update to allow for adult content
According to a report from The Information, some advertisers – particularly smaller ones – are seeing positive results from advertising on X. In the article, Sean Frank, CEO of wallet maker Ridge, says he has seen similar results to the ads he runs on Instagram and Facebook, but on a smaller scale in terms of audience and media spend.
X’s ad business has taken a big hit since Elon Musk took over, with large advertisers fleeing the platform after Musk made a series of controversial statements and changes to the social network. Leaked documents obtained by Bloomberg show that in the first six months of 2023 – the first full year in which Musk controlled the company – X’s revenue fell by nearly 40 percent from the same period the prior year and X lost $456 million in the first quarter of 2023.
Takeaway
It’s not surprising that some advertisers are seeing success on X. Without the ad competition from large advertisers, ad impression costs are likely to be lower on X than other platforms. However, as The Information article notes, one of the limitations with X is scalability – it is simply not as large of social media platform as Meta’s Facebook and Instagram.
While X has always been a top forum for political discussion, scale has always been an issue for marketers and public affairs professionals – even prior to Elon Musk’s takeover of the social network.
Furthermore, X’s recent decision to allow adult content on the platform triggered brand safety concerns, despite controls being put in place to prevent advertising from being shown alongside adult content.
Meta’s Threads Celebrates Its First Year with More Than 175 Million Active Users
Entertainment and music-related news are big drivers of engagement
Meta’s Threads platform – a direct competitor to X – has grown to more than 175 million monthly active users since launching a year ago according to a thread from Mark Zuckerberg. However, that compares to about 250 million who use X daily and 550 million who use X monthly.
When Threads first launched, our L@B Report covered it extensively, along with our blog: 5 things to know about Instagram’s new app, Threads.
Takeaway
As Axios notes, Threads still lacks the scale and influence of the platform it set out to disrupt. Despite the controversy surrounding TikTok and X, both continue to give rise to news and trends that drive conversation.
A survey conducted by Meta and Wakefield Research shows that the primary reason users log into Threads is for entertainment and music-related news. With Taylor Swift’s engagement on Threads, that doesn’t come as a big surprise. Meta itself has made it clear that it does not intend for the platform to be a go-to for news and politics.
Given all the problems at X, and quarter-over-quarter growth, Threads is still a social media app for marketers and public affairs professionals to watch, especially when advertising comes to the platform, perhaps as early as the second half of 2024.
This issue of The L@B Report was put together by Ryan Alexander.
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