Sep 7, 2017

More users getting news on Twitter, Snapchat, YouTube

Richard Drew / AP

Two-thirds (67%) of U.S. adults get news from social media sites, up from last year's figure of 62%, according to a Pew Research Center study out today. But not all platforms are equal in delivering news to users:

  • Facebook still beats out every other social media site as the top news bearer among social media sites, with 45% of Americans reporting getting news from Facebook. That's indicative of the fact that a larger percentage of Americans (66%) use Facebook than the other social media sites in the survey.
  • For Twitter, 74% of its users get news there (up 15 percentage points from last year). 29% of Snapchat users get news on the platform (up 12 percentage points from last year).
  • For YouTube, 32% of its users get news there (up 21 percentage points from last year).
  • Why they might be up: For Twitter, Pew points to Trump's use of Twitter to make announcements in addition to the platform's efforts to promote to news publishers its ability to spread news. When it comes to Snapchat, keep in mind that it has been partnering with CNN, NBC, The New York Times, and other news groups to publish Discover stories that might be upping that news consumption percentage among users. On the YouTube front, it's added a "breaking news" summary on its homepage and has expanded YouTubeTV as well.
  • Keep that in perspective: 15% of Americans report using Twitter while 11% report getting news on it; 18% of Americans report using Snapchat while 5% report getting news on it; 58% of Americans report using YouTube while 18% report getting news there.
  • Stable reports: Facebook, Reddit, Instagram, LinkedIn, and Tumblr all maintained about the same percentage of users who said they consumed news on those platforms as last year.
  • Pew asked about WhatsApp for the first time this year in this survey, and 23% of its users get news there.

Go deeper

SoftBank to cut its stake to get T-Mobile's Sprint deal done

Illustration: Rebecca Zisser/Axios

T-Mobile and Sprint announced a revised merger agreement that will see SoftBank getting a smaller share of the combined company, while most shareholders will receive the previously agreed upon exchange rate. The companies said they hope to get the deal as early as April 1.

Why it matters: The amended deal reflects the decline in Sprint's business, while leaving most shareholders' stake intact and removing another hurdle to the deal's closure.

Trump indulges Wall Street with Milken pardon

Photo Illustration: Sarah Grillo/Axios. Photo: Chris Graythen/Getty Images

Donald Trump loves Wall Street shenanigans. Companies owned by him have declared bankruptcy six different times, and he was once sued alongside Mike Milken for participating in a scheme to artificially inflate junk-bond prices.

Driving the news: Trump pardoned Milken this week, with an official statement positively gushing over Milken's role in developing the wilder side of fixed-income capital markets.