3 Million Voter Registrants Shows Broad Impact of Social Media

There’s no denying that the impact of social media has a profound effect on politics. With the 2020 election ahead, social media is doing its part in recruiting more voters for a higher turnout and thus far, 3 million registrants have taken part on a variety of platforms, such as Facebook and Instagram.

With social distancing measures in place as a result of Covid-19, the need for avenues to churn out more voters is a must–enter social media. An article by Naomi Gleit, VP Product and Social Impact, on the corporate Facebook website, noted that “COVID-19 pandemic has made it more important than ever for people to have accurate information about when and how to register and vote.”

“That’s why Facebook has embarked on the largest voting information campaign in American history, with the goal of helping register 4 million eligible voters in the US this year,” the article added. “We estimate we’ve helped 2.5 million people register so far this year across Facebook, Instagram and Messenger, based on conversion rates we calculated from a few states we’ve partnered with. It’s a promising start, but we have more work to do.”

With an election around the corner, social media powerhouses like Facebook are furthering their efforts to obtain more voter registration.

“With six weeks until Election Day and registration deadlines fast approaching in many states, this week we’re putting the full force of our platform behind this campaign to empower every eligible voter to make their voice heard in this election,” the article added.

Exchange-traded fund (ETF) investors sensing an opportunity can look to get social media exposure via funds like the Global X Social Media ETF (NasdaqGM: SOCL). SOCL seeks to provide investment results that correspond generally to the price and yield performance of the Solactive Social Media Total Return Index. The index tracks the equity performance of the largest and most liquid companies involved in the social media industry, including companies that provide social networking, file sharing, and other web-based media applications.

SOCL Chart

SOCL data by YCharts

SOCL gives investors:

  • Efficient Access: Efficient access to a broad basket of social media companies around the world.
  • Targeted Thematic Exposure: The fund is a targeted thematic play on the global social media industry.

For more broad tech exposure, ETF investors can look to the Technology Select Sector SPDR ETF (NYSEArca: XLK). XLK tries to reflect the performance of the Technology Select Sector Index, which is comprised of technology and telecom sector of the S&P 500.

For more market trends, visit ETFTrends.com.