Facebook’s user base is shrinking, particularly in the coveted 12- to 34-year-old demographic, according to new survey data compiled by market research firm Edison Research.
We knew Facebook’s flagship app was declining for GenZ but this is rather significantly large. No wonder Facebook is pivoting towards messaging with an emphasis on encrypted privacy.
The Stock-market isn’t thrilled with Mark Zuckerberg’s idea thus far, as fears abound if a privacy centric product would even kill the lucrative Ad-model Facebook has managed so well to dominate.
Regardless, Facebook’s flagship app is showing an increase in users above the age of 55+. Meanwhile young people prefer apps like TikTok, Snapchat and Instagram (from youngest users to older).
he survey, which only collected data about users in the US (Facebook’s most lucrative market), found that an estimated 15 million fewer people use Facebook today than they did in 2017, with the biggest drop being among teen users and millennials.
We’ve known for quite some time Facebook’s core product was losing marketshare among young people with even overall dips in Europe for all ages groups, but it’s unclear if the pivot to apps like Instagram and WhatsApp will mean Facebook’s empire as a monopoly will continue.
Plenty of people look back on their early 20s and regret the things they said and did. Few do it as publicly as Mark Zuckerberg. While Huawei sues the U.S. in 2019, Facebook has been known in 2018 mostly for a slew of apologies. But users aren’t apologetic for leaving Facebook.
Facebook is for old(er) people
Facebook lost around 700,000 younger users in the U.K. in 2018. Facebook’s reputation as an app for older people could hurt its bottom lines as it continues to struggle to reach younger users outside of Instagram. Instagram is now a story channel where Ads run in-between micro videos of memes and shared experiences that make little sense in terms of audience continuity.
As loyal as GenZ are to apps like Snapchat (which they grew up with), a new generation of apps by companies like ByteDance shows teenagers are increasingly using meme and viral based micro video apps that appear to be like a new kind of more interactive stories that’s like an evolution of the old Vine app.
That TikTok is more entertainment focused than Instagram that’s more sharing focused is interesting since the data supports the idea that we’re sharing less and even communicating less, but consuming micro video more — meaning Facebook’s pivot might be more to save face than follow the trends.
Did you stop using Facebook or a Facebook mentioned app in 2018 or 2019? I’d like to hear your story of how you were able to do it and why it might have worked for you?