Monitoring Desk
ISLAMABAD: Video-sharing social media platform; Youtube has announced shopping features like TikTok.
The Alphabet-owned company is struggling to shore up its dwindling revenues after recession-conscious advertisers have pulled the string. This comes months after YouTube introduced a new opportunity for producers to generate money on short-form films, offering advertising on its video feature Shorts and paying video creators 45% of the revenue.
TikTok, an app that rose to fame by delivering dance and lip-sync videos before growing to 1 billion monthly users, has made it difficult for the internet’s most popular video platform to compete.
In its third-quarter earnings, Alphabet mentioned advertisers’ declining spending on YouTube. Google’s financial services investment is cooling, and the company wants to reduce employment by more than half.
The disappointing results crushed many hopes that Google, the world’s largest digital advertising platform by market share, would stay strong in a weakening economy, and confirmed Wall Street’s concerns that inflation will continue to harm advertising spending.
According to research, teens prefer video-based social networking networks such as TikTok and YouTube above their counterparts Facebook, Instagram, and Tumblr.
