Facebook Is Losing Users Faster Than Ever
It seems that the young generation is turning its back on Facebook. That too in large numbers. According to new revelations by the Pew Research Centre study, 44 percent of users between the age group of 18 to 29 have deleted the app from their phones in the past year. The report ensued after surveying 3,400 U.S. Facebook users. 26 percent people reveal that they have deleted the app. 42 percent say that they have taken a break for a few weeks. While 54 percent have readjusted their privacy settings.
While this might seem alarming to some, however, the survey doesn’t necessarily come as a harbinger of bad news. Firstly, the survey occurred between May 29 and June 11. To refresh your memory, during those months Facebook-Cambridge Analytica scandal was rearing its ugly head. Mark Zuckerberg, Facebook’s chief, had to apologise profusely amidst the public hue and cry after the alleged data misuse for political purposes. Thus, it’s likely that people have reinstalled the app thereupon. Secondly, the survey takes only the Facebook app in account. Whereas, Facebook also has Instagram, WhatsApp and Messenger under its ambit. Furthermore, the survey did not measure the users outside of the U.S.
Having said that, scandals like the Cambridge Analytica have affected Facebook’s financial situation to some extent. Also, after Facebook warned of higher advertising expenses related to fighting fake news, the social media behemoth witnessed a 20 percent plunge in the stock on single day in July.
However, Snapchat stands to gain from Facebook’s loss. According to a report, around 43 percent of social media users will turn to Snapchat this year. Juxtaposed to Facebook, Snapchat is steadily gaining traction from millennials. While, the Generation x still prefers Facebook’s less complicated interface and social network experience. There is also a trend shifting towards apps like Instagram and Youtube, where the conversation is quicker and more simplistic.