Hootsuite moves into social listening with Talkwalker acquisition

Two prominent figures in the social media sphere are uniting, as Hootsuite reveals its acquisition of
Talkwalker, a social listening platform, for an undisclosed sum. This integration will empower
Hootsuite’s 200,000 users have advanced data analytics capabilities, allowing them to establish keyword
alerts for monitoring social mentions, expanding beyond the current functionalities available within the
Hootsuite dashboard.

According to Hootsuite:
“[The acquisition] sparks a game-changing shift from social media management to a category evolution
fueled by customer demand: Social media performance. Hootsuite exists to help customers unlock the
value of their social media relationships. And by acquiring Talkwalker, Hootsuite takes this mission to
the next level. By bringing together two complementary category leaders, businesses will, for the first
time, have a social media performance engine to turn insights into action into impact – all fueled by AI.”

The inclusion of AI in this context is highlighted, although its utility in social listening is still evolving and
may not significantly enhance the process.

The merger is strategic, especially given the escalating API costs, particularly for X (formerly Twitter). In
response to this, back in March 2023, X introduced new, more expensive access tiers for its data access,
primarily aimed at curbing AI providers from inexpensively accessing large volumes of X post data.

This move effectively priced many smaller players out of the market and prompted larger providers to
reconsider their business models to optimize profit and performance.

Consolidating into a single access license makes practical sense and will enable both companies to lower
costs while continuing to serve their existing user base. Additionally, it presents new opportunities, with
anticipated enhancements to the Hootsuite dashboard.

Essentially, users can expect that they will get access to more social listening options, and to more tools
that aim to help in finding discussions of value across social apps. Further, users should expect more
mergers along similar lines, as data access becomes more restricted in the face of rising competition in
AI.

Hootsuite anticipates the acquisition to be finalized in the second quarter of 2024.

Source: Social Media Today

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