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INTERNET SPACE
Twitter to double tweet limit to 280 characters
by Staff Writers
San Francisco (AFP) Nov 8, 2017


Snap shares dive as loss widens
San Francisco (AFP) Nov 8, 2017 - Shares of Snapchat parent Snap plunged Tuesday after reporting a widening loss and user numbers that fell short of market expectations.

Revenue at the California-based company rose to $207.9 million but its loss more than tripled to $443 million in the quarter that ended September 30, according to an earnings release.

Snap reported a loss of $124 million in the same quarter last year.

Snap shares were down more than 17 percent to $12.53 in after-market trades that followed release of the earnings figures.

The number of people using Snapchat daily rose to 178 million in a 17 percent increase from the same quarter last year, according to the company.

Snapchat became popular among young smartphone users for its disappearing messages, often photos or video, but analysts say it needs to show strong growth to keep pace in the rapidly evolving social media sector dominated by Facebook.

Although Snapchat is best known for its smartphone messaging, it has also developed partnerships with numerous media outlets eager to reach its audience with news, video and other content.

NBCUniversal and Snap Inc last month announced a joint venture to produce original scripted shows for Snapchat.

"Content is becoming an increasingly important part of our business," Snap chief executive Evan Spiegel said during an earnings call with analysts.

Ways to make simplify the process to create and find imagery will be part of a major overhaul planned for the version of the application tailored for Android-powered smartphones and tablets, according to Spiegel.

Use of Snapchat is growing faster among people using Android smartphones than among iPhone users, so the company is overhauling the Android application to be easier and faster, the company said.

Spiegel conceded that the ranks of Snapchat users grew less then he would have liked in the quarter.

- Spectacles dud -

Snap executives said they overestimated demand for its Spectacles sunglasses with built-in cameras, losing just shy of $40 million that it will mark down on its books.

"We made the wrong decision based on early traction and ultimately weren't able to sell as many Spectacles as we expected," Spiegel said.

Snap executives tried to assure analysts that its recently-introduced self-serve advertising systems for business was gaining momentum even though "overall ad load remains low."

Snap priorities in the year ahead will include increasing the number of users along with the kinds of content on the platform, as well as investing in augmented reality and machine learning.

One of the ways Snapchat makes money is with "lenses" that let virtual costumes or other effects be overlayed on real-world photos taken with smartphone cameras.

"2018 promises to be a productive year for Snap, with many changes coming," Spiegel said.

"Our audience may not be the largest today, but we certainly feel it is the most strategic," Spiegel added, referring to Snapchat's popularity among people younger than 35 years old.

The "ugly" financial quarter at Snap, and the bad bet on Spectacles, may put executives in the crosshairs of the board of directors, according to independent analyst Rob Enderle.

"It shows the company is in trouble, and I am not sure how they are going to pull out of this," Enderle said of the earnings report.

"I am not convinced the action they are taking is going to offset the amount of cash they are rolling through -- it may be too little, too late."

Twitter announced Tuesday it would double the limit for tweets to 280 characters, a bid to draw in more users and boost engagement at the social network.

Giving users twice the space to voice their thoughts ushers in a new era for the online platform, whose hallmark 140-character cap had encouraged users to craft succinct missives.

"We're expanding the character limit! We want it to be easier and faster for everyone to express themselves," tweeted the site, which started testing an increase to its limit in most languages in early September.

The changes will be rolling out in all languages except Japanese, Korean, and Chinese, in which space limitations have not been an issue, Twitter said.

It is the first time the tweet character cap has been raised since Twitter was founded 11 years ago.

Twitter, which has been lagging behind rival social networks in user growth and struggling to reach profitability, faced a dilemma over the change in that it could alienate longtime users and transform the nature of the service.

Product manager Aliza Rosen said in a blog post that the test showed most people still used 140 characters or fewer, suggesting the fast-moving nature of Twitter will not change.

"Our goal was to make this possible while ensuring we keep the speed and brevity that makes Twitter, Twitter," Rosen said. "We're excited to share we've achieved this goal and are rolling the change out to all languages where cramming was an issue."

- Brevity endures -

Rosen noted that in the first few days of the test many people used the full 280-limit because it was new and novel, "but soon after behavior normalized."

As a result, "the brevity of Twitter remained," she said.

While Twitter itself changed the way people communicate in the internet age, doubling the tweet character limit promised to shift it once again, according to Jennifer Grygiel, an assistant professor of communications at Syracuse University.

"It will slow down the speed at which users consume information and will allow for more clarity," Grygiel said.

"This might not be a bad thing during a time when world leaders are making military threats via the platform."

US President Donald Trump favors the platform for making major policy announcements, as well as criticizing allies, taunting opponents and threatening North Korea with destruction.

He sent his inaugural 280-tweet while on South Korea as part of his Asia tour: "Getting ready to make a major speech to the National Assembly here in South Korea, then will be headed to China where I very much look forward to meeting with President Xi who is just off his great political victory."

- Glances and Likes -

Some users have worried that longer tweets could profoundly change the nature of the one-to-many messaging platform, which is popular with journalists and politicians but has failed to win the mass appeal of rivals like Facebook.

There was also worry that raising the character cap would give blowhards and abusers more room to spout.

"I will gladly give up my extra 140 characters if Twitter will delete Trump's account," author and civil rights commentator DaShanne Stokes said in a tweet fired off from @dashannestokes.

Stokes said Twitter's move gives Trump "a bigger weapon with which to hurt more people."

Twitter, which became a public company in 2013, has never reported a profit, even though it has built a loyal base of celebrities, journalists and political figures, including prolific tweeter Trump.

Twitter co-founder Biz Stone said that longer test tweets got tended to prompt more engagement by others using the service.

"In addition to more Tweeting, people who had 280 characters received more Likes, Retweets, @mentions, Followers, and were more satisfied with Twitter. So, you'll be getting 280 too -- enjoy!" Stone tweeted.

Some analysts maintain longer tweets are not the fix Twitter needs, and may even change the appealing ability to take in messages with glances.

It also risks Twitter looking a bit more like Facebook, one analyst contended, and might prompt the leading online social network to respond to what it might see as a competitive threat.

Meanwhile, many users welcomed the news and said raising the character cap was long overdue. Some people already resort to long strings of rapid-fire tweets, known as "tweet storms," to string together lengthy comment.

Last month, Twitter reported its loss for the past quarter narrowed as the company suggested it could reach profitability for the first time in the fourth quarter.

The update showed Twitter's monthly active user base rose slightly to 330 million, roughly in line with forecasts.

INTERNET SPACE
Surf's up for startups at Web Summit 2017
Lisbon (AFP) Nov 7, 2017
The next generation of Internet giants gather this week in Portugal for four days of tech-fuelled networking, nights out and - for the first time this year - surfing of the offline variety. Web Summit, which likes to promote itself as "the Davos for geeks" and provides a platform for startups to hook up with venture capitalists and hear about new trends from industry leaders such as Facebo ... read more

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