The Week That Was: IT and Media news week 29

The Week That Was: IT and Media news week 29

The stock exchange week closed with another report when Twitter for Q2 reported fall of quarterly revenue and a net loss referring to both Elon Musk’s back-tracking on his USD 44 billion acquisition of the company and weaker digital advertising markets. Snap’s 25% share price drop when the company said its loss had grown to USD 422 million, up 178%. Two other advertising dependent giants are scheduled to shortly present their Q2 reports: Google-owner Alphabet on July 26 and Meta on July 27.

The global gender gap is 68.1% and it will take 132 years to reach full parity. This is a slight four-year improvement compared to the 2021 estimate (136 years). However, it does not compensate for the generational loss during the pandemic 2020 and 2021 when the gender gap was set to close within 100 years. This means the pandemic meant a loss of more than 30 years. The data is from the World Economic Forum’s 2022 Global Gender Gap Index comprising 146 countries.

Meta said it for the first time is hiring individuals who are fully remote and working from locations where the company does not have offices and that this is increasing the diversity of candidates and workforce. 75% of staff is working from multiple locations. The company’s 2022 diversity report shows that the work force comprising 62.9% men and 37.1% women. In leadership positions, 63.3% are men and 36.7% women.TikTok fastest growing news source in the UK

TikTok was the fastest growing news source in the UK between 2020 and 2022 – from 0.8 million adults in 2020 (1%), increasing to 3.9 million adults in 2022 (7%). This brings it onto a par with Sky News’ website and app. Less than a quarter of adults use newspapers for news. Teenagers are turning away from traditional news channels and are instead looking to Instagram, TikTok and YouTube for news, according to media authority Ofcom´s study of news consumption.

The IT labour market continues to tighten and companies find it difficult to attract and retain talent but the shortage of IT staff is expected to be less intense at the end of next year. Compensation is the No 1 driver for IT talent attraction and retention, according to marketing and research firm Gartner´s survey of 18 000 employees.

Moonshot News is an independent European news website for all IT, Media and Advertising professionals, powered by women and with a focus on driving the narrative for diversity, inclusion and gender equality in the industry.

Our mission is to provide top and unbiased information for all professionals and to make sure that women get their fair share of voice in the news and in the spotlight!

We produce original content, news articles, a curated calendar of industry events and a database of women IT, Media and Advertising associations.

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