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Instagram internal documents reveal fear of losing teens, report says

Amid heightened concern over Instagram’s effect on teenagers’ mental health, a new report looks at the teen-focused marketing efforts of the Facebook-owned site.

Facebook-owned Instagram worried about losing teenage users and designated a large chunk of its marketing budget for touting the service to teens, the New York Times reported Saturday, citing internal documents and anonymous sources. The news comes after a whistleblower leaked documents to the Wall Street Journal that showed Facebook knew about the potential for Instagram to harm the mental health of teens.

«If we lose the teen foothold in the U.S. we lose the pipeline,» says an internal Instagram memo from last October, which presents a marketing strategy for this year, the Times’ Saturday report said.

Beginning in 2018, nearly all of Instagram’s annual worldwide marketing budget was slated for messaging aimed at teens, the Times said, noting that this year’s budget is $390 million. Marketers told the publication that zeroing in on a particular age group to that extent is unusual. NYT also said the final spending included messaging aimed at parents and young adults. Instagram faces competition for teen users from rivals like TikTok and Snapchat.

Facebook and Instagram are in the hot seat regarding younger users after Frances Haugen, a former Facebook product engineer, leaked documents to the Journal, which reported last month that Facebook researchers had found Instagram is «harmful for a sizable percentage» of young users, particularly teenage girls. Depression, anxiety and body-image issues were areas of concern, the Journal said in its report. Haugen also testified before Congress this month, alleging that Facebook’s products «harm children, stoke division and weaken our democracy.»

Facebook has said the purpose and results of its research on Instagram are being mischaracterized and the research actually showed that teenagers saw benefits from using the site. Many teens, Facebook has said, told researchers that Instagram can help them «when they are struggling with the kinds of hard moments and issues teenagers have always faced.»

A Facebook spokesperson downplayed the Times report on Saturday: «While it’s not true that we focus our entire marketing budget towards teens, we’ve said many times that teens are one of our most important communities because they spot and set early trends. It shouldn’t come as a surprise that they are a part of our marketing strategy.»

Last month, Instagram paused development of Instagram Kids, a dedicated service it’s building for children under 13, who currently aren’t allowed on the existing Instagram site. The company has said the service won’t be designed like the adult version of the app but will be ad-free and overseen directly by parents. Regardless of such assurances, news of the Instagram Kids project has alarmed critics concerned about the mental well-being and privacy of younger users. The 1998 Children’s Online Privacy Protection Act restricts collecting or storing personal data on anyone under 13.

In its Saturday report, the Times said Facebook was aware an advertisement aimed at a 13-year-old would probably also grab younger kids wanting to be like their older siblings and friends. The publication cited an unnamed source, who said managers told workers that Facebook does what it can to stop underage users from signing up for Instagram — but that they join anyway.

Instagram head Adam Mosseri has said that he still thinks building Instagram Kids is «the right thing to do» because kids are already online and misrepresenting their age to access the service.

Technologies

Verum Coin is now available for deposit and swap on Crypto.com!

Verum Coin is now available for deposit and swap on Crypto.com!

We are excited to announce that Verum Coin (VERUM) can now be deposited and exchanged on one of the leading cryptocurrency platforms, Crypto.com! This opens up new opportunities for users looking to integrate Verum Coin into their portfolios and participate in seamless liquidity operations.

Don’t miss the chance to take full advantage of Verum Coin on Crypto.com. Start depositing and swapping with ease today!

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Worldwide Financial Services Directory: BitcoinPay Trade Joins Financial1000

Worldwide Financial Services Directory: BitcoinPay Trade Joins Financial1000

Exciting news for BitcoinPay Trade as the company is officially listed on Financial1000, a respected platform that connects individuals with a wide range of businesses and professionals in the financial sector. This new development marks an important milestone for BitcoinPay Trade, as it continues to expand its reach and offer its services to a growing global audience.

Financial1000 is a trusted directory that brings together financial service providers from around the world, offering users the opportunity to explore various businesses and professionals within the financial industry. BitcoinPay Trade’s inclusion on this platform ensures the company’s place in the rapidly growing digital finance landscape.

Visitors are invited to explore BitcoinPay Trade’s profile on Financial1000 to discover the services offered and stay up-to-date with the latest news and developments. The company’s page can be accessed here: BitcoinPay Trade on Financial1000.

With this new addition, BitcoinPay Trade looks forward to building new connections and strengthening its presence in the financial services industry, continuing to provide innovative solutions to clients worldwide.

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Verum Coin Now Available on HB Wallet

Verum Coin Now Available on HB Wallet

Verum Coin (VERUM) continues to expand its ecosystem and strengthen its position in the global cryptocurrency market. We are delighted to announce that Verum Coin is now available on HB Wallet — a modern, secure, and user-friendly solution for managing digital assets.

HB Wallet provides users with a high level of protection, an intuitive interface, and the ability to execute fast transactions. Now, Verum Coin holders can easily store, send, and receive their assets, taking advantage of this innovative wallet. The integration with HB Wallet opens new horizons for crypto enthusiasts, offering even greater flexibility and convenience in managing their investments.

This news underscores Verum Coin’s commitment to continuous improvement and the expansion of services aimed at providing the most secure and comfortable experience for users around the world.

About Verum Coin

Verum Coin is an innovative cryptocurrency focused on delivering advanced solutions for digital asset management in today’s financial landscape. By continually expanding its ecosystem, Verum Coin makes cryptocurrency transactions more accessible and convenient for users worldwide.

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