Over the past few weeks, Twitter and Facebook, the web’s biggest social media platforms, have rolled out new features and products in an effort to keep their current users engaged and attract new users.

We’ve compiled a series of reports about these developments for your convenience.

Facebook Announces Searchable Hashtags, Promises More Features For Following Public Conversations (via TechCrunch)

Facebook Reaches 1 Million Active Advertisers (via Yahoo! News)

Twitter Can’t Control Rapid Growth of Its Vine (via Wired)

Vine Videos Give Sneak Peek at New Features (via Mashable)

Facebook Announces video on Instagram (via CNet)

Introducing Video on Instagram from Instagram on Vimeo.

The big takeaway from these recent announcements and events is that users love video. In the 80’s, video killed the radio star. Today, video is killing everything. In less than six months, Vine’s unique vistors count skyrocketed from 77,000 to 3.6 million – a 4575-percent increase. Despite Vine’s tremendous growth, Instagram still has the upper hand in this ongoing battle  with 150 million unique daily users.

As these platforms continue to change and grow, it’s critically important for orgranizations to harness the power of social media. Just last week, the Association of Proprietary Colleges (APC) launched its official Twitter account. APC took to Twitter to promote their 2013 conference, interact with attendees and share images from the conference – generating more opportunities to promote their member colleges and overall mission.