Apple Weighs iPhone Video Editing App in Renewed Push on Social - Bloomberg

An increasingly social Apple

"The growth of Apple’s hardware business is slowing and Chief Executive Officer Tim Cook is looking to the company’s services business, such as the App Store and iCloud storage, as a way to generate increased revenue. Apple has failed to successfully launch social-media services in the past, including an iTunes-focused social network called Ping in 2010. Now as Snapchat and Facebook’s Instagram and Messenger apps grow atop Apple’s iOS mobile operating system, Apple is seeking to create its own features to remain relevant, particularly for younger users.
Social media’s importance can be seen in the amount of time people spend with the apps. For example, Facebook’s mobile users are on its News Feed, Instagram and Messenger an average of 50 minutes a day, while Snapchat’s 150 million daily active users spend an average of 30 minutes per day with the photo- and video-sharing app. Of the top 10 free third-party iPhone apps in the App Store, Facebook owns three, while Snapchat owns two."

Apple Weighs iPhone Video Editing App in Renewed Push on Social - Bloomberg