Ground Report | New Delhi: Is Facebook Dying? Facebook has been around for about 18 years since it was first started in 2004. The story of how it came into being is quite remarkable told in David Fincher’s oscar-winning movie called ‘The Social Network. Since, its inception, the social media platform has grown significantly, beyond anyone’s wildest imagination. There have been changes, some new features and even a re-branding through Meta. I mean, ‘Facebook’ remains Facebook, although there is a parent company namedMeta,which oversees the functioning of the social media platform including WhatsApp and Instagram now. The exponential growth of Facebook directly impacts the growth of its other entities i.e. WhatsApp Messenger and Instagram.
One of the main reasons behind the rebranding was the spoiled image of Facebook due to privacy, and fake news concerns. In addition, re-branding was done to attract new investment into this new technology called ‘Meta-verse’.
But, why all that? How bad are things for Facebook? And, is it dying?
However, earlier this week the company announced that Facebook has been losing its daily users. The news that Facebook’s dominance over online socializing apps may have peaked in 2021 was just one of many symbolic data points in a bleak corporate earnings report that sent Meta’s stock into an epic, historic spiral, slashing $220 billion from its value. That implied that the company’s reign over online socializing may not last long.
With two billion log-ins daily, Facebook is still in the race. However, for years now, the use of the Facebook app has been gradually declining. Facebook in its history of 18 years is seeing a fall in its daily users, half a million users stopped using it towards the end of the year 2021. Most of the falls were witnessed in Africa, Latin America and India.
Answer it yourself, when was the last time you used Facebook actively? If you ask me, I don’t even have that application on my phone anymore. Although, through the re-branding, Facebook (or Meta) is trying to integrate WhatsApp, Instagram and Facebook into a social media ecosystem. All these three apps would be sharing information.
Why is Facebook Dying?
Facebook has been showing slow growth around the world for a while now. Also, the focus of users has shifted to Instagram and WhatsApp. Social media apps like Instagram and WhatsApp are more liked and used by many people. Some people use these apps but have no Facebook accounts. Also, some people used to be active on Facebook but now, have either deactivated or deleted their accounts.
Privacy Concerns
However, for the investors in the company, the more worrying part is a privacy crackdown by Apple that has curtailed Facebook’s ability to target ads on iPhones and other Apple products. The source of revenue for Facebook is ads as all their services are free. That’s what Mark Zukerberg also explains to US Congress.
Netflix documentary named ‘The Great Hack’ traces the company called Cambridge Analytica, and their association with Facebook. The association basically provided the company with user information, and to target political ads, and even fake news.
Increased Competition
In a way, every social media application is aiming to become another. For example, Instagram which started a photo-based social media platform now literally does everything which Facebook is doing and more. It is also mimicking TikTok. And, YouTube is mimicking both. WhatsApp is mimicking Snapchat and Instagram. Basically, with each passing day, the application is giving in to market pressure. Like, even after introducing Instagram Reels, a form of short videos, Facebook could not take over TikTok, a Chinese app primarily dedicated to making short videos.
Dead Users
According to a report by Good Trust, Facebook has 30 million dead people. So that means there are 30 million inactive users which also becomes a reason for the decline of Facebook. Also, it is important to notice that many people simply do not know how to use Facebook. Some people also left the app because of “privacy concerns.” Other reasons for the decline can be slow growth in numbers, low revenue, and failure in generating money from Reels.
Some users said
Ground report.in tried to look for all the possible reasons which have resulted in a decline in Facebook users by talking to several people, here is what they had to say: “Instagram is more trendy than Facebook,” said one student from Anantnag. Adding further she said,” I deleted my Facebook account around three years ago. It is no fun.”
“I had some horrible experiences on Facebook so I just refrained from using all social media platforms altogether,” said one more ex-user. Some people also believe that Facebook is no more entertaining than it once was. “Facebook used to be a terrific place to check in on your friends, see their photos, and read hilarious and interesting articles. There are fewer and fewer genuine people these days, and the news is full of sensationalism, very political, and false stuff,” believe some.
“Because of other media out there like Instagram etc which offers more on the visual front, the word is declining …we prefer short captions rather than descriptions now …and for word people are preferring Twitter now… Facebook has kind of become boring now,” thinks another Instagram user.
However some people think that it is “human nature”, people always look for new things. Facebook once overshadowed the popularity of Orkut, and now people are more into Twitter and Instagram and hence the popularity of Facebook is dying.
What is Facebook?
Facebook is a social networking and social media platform based in the United States. It was founded in 2004 by Mark Zuckerberg along with other Harvard College students and roommates Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes, and is named after the Facebook directories that are commonly distributed to American university students.
Initially, membership was restricted to Harvard students only, but since 2006, it has been open to students from other North American universities as well as anybody over the age of 13. Facebook had 2.8 billion monthly active users as of 2020, putting it in tenth place in terms of worldwide internet usage. It was the most popular smartphone app in the decade 2010. The idea originally came after Zuckerberg developed a site called FaceMash, which had 450 visitors and 22,000 photo views in its first four hours.
Also, it is important to notice that many people simply do not know how to use Facebook. Some people also left the app because of 'privacy concerns. ' Other reasons for the decline can be slow growth in numbers, low revenue, and failure in generating money from Reels.
So How Many Users Have Facebook Lost? The 2021 Q4 earnings report of Meta showed that Facebook's daily active users (DAUs) have shrunk from 1.930 billion to around 1.929 billion. This means that Facebook lost between 500,000 and one million users, depending on the news source.
“The future of Facebook is bright, especially with the success of additions like Facebook advertising and live. Facebook has proven time again that it is a relevant, dynamic social media platform capable of adjusting to criticism's and moving to avoid boredom.
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Many of those who delete Facebook speak of widely recognised reasons for leaving the platform: concerns with its echo chamber effects, avoiding time wasting and procrastination, and the negative psychological effects of perpetual social comparison.
In 2021, Facebook's market share among social networks in the US dropped to 50.8% from 54.3% in 2019, This statistic is a telling sign of the decline of Facebook's influence in the US social media market.
Facebook will lose dominance as a major web company in less than a decade, Eric Jackson, founder of Ironfire Capital said Monday on CNBC's Squawk on the Street. "In five to eight years they are going to disappear in the way that Yahoo has disappeared," Jackson said.
"Several issues have caused this, including recent high profile ethical and privacy concerns, increased competition from newer platforms like Tiktok, and getting judged as an app for teens' parents and grandparents," explained "Dr. Dustin York an associate professor of communication at Maryville University.
The Blue App is seeing an accelerating decline in adoption among younger social network users, with those under 25, already a small and shrinking share of its overall user base, continuing to fall off the platform or fail to adopt it at all. By next year, fewer than 15% of Facebook users will be under 25.
For many, social media is an outlet for all of their stresses, frustrations and heartbreaks, or a place to share their thoughts and feelings on the tragedies of the world. And while it may make them feel better, it certainly doesn't relieve those who are reading it.
They are seeking something fresh, different and more authentic. Insecurity is not just limited to the time one spends online. It causes people to feel disconnected from themselves and can cause them to feel disconnected from their families and what is happening around them in real time.
While factors like increased competition from TikTok, challenges related to Apple's iOS advertising changes and bigger investments in the metaverse will impact earnings, Facebook should bounce back in the second half of 2022, they predict.
A third of the MBAs say that Facebook will be smaller in ten years, citing factors such as users' growing privacy concerns and Facebook's weak advertising model. The brand will evolve into something like Yahoo! - still around and making money, but not the market leader it once was.
Facebook is shutting down its live shopping feature on October 1 to shift its focus to Reels, the company announced in a blog post. After this date, you will no longer be able to host any new or scheduled live shopping events on Facebook, the company says.
"Deactivation caused small but significant improvements in well-being, and in particular on self-reported happiness, life satisfaction, depression, and anxiety," the researchers concluded. "Effects on subjective well-being as measured by responses to brief daily text messages are positive but not significant."
If you delete your account: You can't regain access once it's deleted. We delay deletion a few days after it's requested. A deletion request is cancelled if you log back into your Facebook account during this time.
“The reason Facebook and other forms of social media are so addicting and hard to quit is due to the instant gratification that they provide,” says Elika Kormeili, a clinical therapist in Los Angeles. “There is a sense of satisfaction each time someone 'likes' or comments on your status update.
The number of social media users worldwide will increase by 2.4% this year, according to our forecast. That's a major slowdown from 2020, when the number of users increased by 10.8% during the pandemic. A higher percentage of internet users are using social media, too.
In 2023, Facebook plans to further expand its VR and AR offerings, including new features and applications that will change the way people engage with the platform. As virtual and augmented reality become more prevalent, businesses will need to think about how they can use these technologies to engage with followers.
In 2009, AdWeek ran this headline: “Is Facebook getting uncool for 18-24s?” A year later, mainstream news websites noted the phenomenon of parents and grandparents joining Facebook, scaring off younger people. “It's official, Facebook is becoming uncool,” CBS declared.
This year, 1.6 million 18- to 24-year-olds in the US will stop using Facebook, a steeper drop than previously forecast. Meanwhile, the number of millennial users—those ages 26 to 41—will dip by 2.1%, marking the first-ever millennial loss for the app. More like this: Report: Social Media Update Q2 2022.
The younger audiences are much more comfortable storytelling and sharing updates by creating image and video content. Facebook has become saturated with ads and this generation doesn't like to be marketed to in the more traditional sense. Finally, other platforms are innovating quicker.
Facebook lost around 500,000 daily users in the last three months of 2021, Meta's quarterly earnings report revealed, falling from 1.93 billion logging in around the world each day to 1.929 billion.
Meta documents show main metaverse is losing users and falling short of goals, report says. Horizon Worlds, Meta's flagship metaverse for consumers, is failing to meet internal performance expectations, according to internal documents reviewed by The Wall Street Journal.
(WYTV)- Some 30 million Facebook accounts belong to dead people today. One estimate says that by 2070, if Facebook's still around, there will be more dead people with Facebook accounts than actual living users.
Social media use can cause FOMO and a sense of inadequacy. This may lead to loneliness, anxiety, and depression. Stepping away from social media may help reduce FOMO-induced anxiety and loneliness. Learn more about social media and mental health.
And, no matter the level or type of job you're seeking, having no social media presence is a red flag that can fast-track your resume to the “no” pile. Here are three conclusions a hiring manager or recruiter may draw from you pulling an invisible man act on social media.
However, social media usage may also have negative impacts on social isolation by substituting social media usage for face-to-face social interactions, or by exposing individuals to unrealistic or distorted portrayals of connections' lives, leading to feelings of social isolation.
Although social media has gained a negative reputation for tearing us apart, at its core, it brings people together. Social media helps people stay in touch regardless of distance or busy schedules. Social media provides a platform for old friends or family to connect.
Meta, formerly Facebook, is in crisis mode as value plummets in 2022. Weak revenues, regulatory woes, and costly metaverse bet are to blame. 2023 doesn't seem any better. Since Facebook officially became Meta in October 2021, the company has lost more than two-thirds of its stock market value.
Aside from a drop in advertising, Facebook faces potential risks from regulators, user backlash, and increased competition in the social media space. There is also a risk that Facebook will reach a saturation point in terms of user growth and have difficulty maintaining user engagement.
The number of daily active users in the U.S. and Canada has fallen in the past two years, from 198 million in mid-2020 to 197 million in the second quarter of this year. Globally, user numbers are up about 10% over that stretch and are expected to increase 3% a year through 2024, according to FactSet estimates.
Facebook overhauls its feed to be more like TikTok — and adds a throwback chronological option. Co-founder Mark Zuckerberg said Thursday that Facebook users would begin seeing a different look when they open the app, including more looping videos similar to TikTok.
Meta's “year of efficiency” is kicking off with killing the livestream shopping business on Instagram. Effective March 16, 2023, users will no longer be able to tag products while live streaming.
In the past years, many social media websites where made and they all seem somewhat similar, so that led some of them to lose popularity. Things such as being fed up of advertisem*nts, concerned over privacy, peers not using it and being to old for it are all reasons of them losing popularity.
The number of active monthly U.S. users 18 years and older dipped slightly in February 2022 compared to the prior month. While user numbers improved briefly over the summer, the decline continued.
2.94 billion monthly active users use Facebook. It also has 1.96 billion users that are visiting the social networking site on a daily basis. Facebook is the leading social media platform, reaching 59.0 percent of social media users. Facebook brought in $27.2 billion in ad revenue in Q4 2020.
The largest Facebook audience in 2021 is men aged between 25 and 34, accounting for 19% of total potential reach. Men using Facebook between the ages of 18-24 make up 15%, while female users between the ages of 24-35 are responsible for 13%.
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