Facebook Is Quietly Dropping Its Spotify and Clubhouse Killer – TheStreet

Facebook  (FB) – Get Meta Platforms Inc. Class A Report often tends to go with the wind blowing in tech. When one of its rivals has a feature that works, the social media giant rushes to create an in-house version to prevent users and advertisers flocking to competitors. We saw it not too long ago with Instagram Reels, which is “a new way to create and discover short, entertaining videos on Instagram,” the company announced on August 2020.Reels is a built-in feature on Instagram that lets you edit and post short music videos. The concept is almost a copycat of TikTok, the successful application owned by Chinese company ByteDance. In use, the resemblance is obvious. Same vertical scrolling, same looping playback and same video mosaic on users profile. Instagram has also taken over the principle of algorithmic suggestions from its competitor, which offers relevant content to users based on their presumed tastes.With this in mind, it’s no surprise that Facebook jumped on the podcast and audio bandwagon last year amidst the success of the Clubhouse audio app, one of the big winners in the pandemic economy of Covid-19.Podcasts, an Opportunity That Quickly Died OutLaunched in April 2020 in San Francisco, Clubhouse is…
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