IPFS News Link • Social Networking/Social Media
Peak Facebook?
• https://www.nextbigfuture.com, by Brian WangIf Facebook becomes permanently uncool, then it could eventually head towards the decline of MySpace and Friendster. Facebook is much larger than those companies ever were and has stayed dominant for longer and has actual profits. Teenage users of Facebook in the US has declined by 13 percent since 2019 and have been projected to drop 45 percent over the next two years. Facebook will lose 1.5 million teen users between 2020 and 2025. Facebook's decline among consumers ages 12 to 17 will continue, and just 35.3% of internet users in that age group will use the platform in 2022. In 2024, that figure will drop to under one-third.
Facebook is pushing its TikTok copy Reels and is spending heavily on the Metaverse which is 3D virtual reality. The sharper decline in teen users and flattening usage from other users means Facebook is making defensive moves and fighting from weakening positions. Tencent and others are also competing for the Metaverse.
Facebook has the data to know how much of threat TikTok poses to them. However, unlike Whatsapp or Instagram, Facebook could not buy TikTok. Tiktok is a Chinese company. TikTok recently passed Snapchat and Pinterest to become the Third Largest Platform. Facebook and Instagram are still ahead but the gap is closing.




