The Week That Was: IT and Media news week 30

The Week That Was: IT and Media news week 30

Meta-owned Instagram announced new features for short video reels but the update back-fired immediately. After a few days of criticism from users and celebrities, the company said it is pausing the rollout of the new features. CEO Adam Mosseri told The Verge that the test version would be phased out within weeks. One of the criticized features was a TikTok-like increased recommendation of video content.

There were ups and downs for big tech in the week with several of them reporting quarterly results. Apple reported better than expected sales of iPhones with revenues up 2% to USD 83 billion; Amazon surprised analysts by reporting sales up 7% year-on-year to USD 121 billion; Meta, owner of Facebook, Instagram and WhatsApp, for the first time ever reported a quarterly decline. Year-on-year revenue was down 1% to USD 28.8 billion and the company warned that advertising sales are likely to fall again in coming months; Google´s owner Alphabet reported Q2 revenue up 13; Microsoft posted 12% growth year-on-year.

The trust in newspapers and television news has fallen to all-time low! Just 16% of U.S. adults now say they have “a great deal” or “quite a lot” of confidence in newspapers and 11% in television news. Both of them down five percentage points since last year, Gallup said in a survey.

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