Leaving Facebook For....Facebook
According to a recent Piper Jaffray survey that included more than 8600 participants, many teens today are quickly moving away from Facebook and opting instead to use Instagram; another Facebook-owned social media site.
At the moment, it's suggested that Snapchat and Instagram are tied, with roughly 85 percent of the respondents insisting that they use either of the social media platforms for their daily interactions and entertainment. However, interest for Snapchat has reportedly been cooling while a preference for Instagram continues to grow.
The research firm eMarketer has reported that Facebook is losing young users quickly and they estimate that the company will continue to see a drop in users who are between the ages of 12 and 17 years old. However, they do suspect that the overall audience is going to continue to grow for Facebook over the next several years. Instagram on the other hand, is expected to see significant growth.
And Wall Street is also reportedly optimistic about Facebook's future, despite the many recent scandals that the company has had to endure.
The Pivotal Research Group has reported that the amount of time that people are spending on Facebook has continued to decline. Despite digital content consumption being on the rise, Facebook has been seen to have a declining share of that pie. Facebook has lost trust in the eyes of many and those people are now going to be looking elsewhere, to other social media solutions, rather than interacting with a platform that they don't trust.
One previous Pew Research Center survey had found that thousands of U.S. Facebook users had decided to deactivate or delete the Facebook app from their phone in the last year alone. At least 44 percent of the respondents to that survey, who were between 18 and 29 years of age, said that they had removed the Facebook app from their device.
These social media platforms are generating billions of dollars in ad revenue. In the future, it's estimated that Instagram could easily account for roughly 70 percent of the company's revenue by 2020 or more, which would be a detrimental factor in helping to drive Facebook's growth.
Could it be a result of the shift away from sharing text content to sharing more images and videos? There are a number of sites who have tried to successfully make that transition, as they thought that this would be the future trend. They didn't get the results that they anticipated though, switching entirely to video content might not always work out as a successful business plan.
Young people are said to be quitting Facebook in the millions and looking elsewhere, this year alone it's estimated that at least 2 million people under 25 yrs old will exit Facebook for good.
The idea that Facebook might not always be the dominant player in this space is a notion which is continuing to take hold with many, who suspect that perhaps sometime soon we might see the demise of this site and a trend toward something different. The decision to purchase Instagram for $1 billion then was one which established a lucrative safety net.
Followed by Instagram and Snapchat, the Piper Jaffray survey found that the most commonly used social platforms were Twitter, then Facebook, Pinterest, and Google+.
Compared to two years ago, the survey found that Facebook engagement is down almost 40 percent with teens who are 15 years old. It's estimated that for this age group, only 28 percent of them had checked Facebook in the Fall of this year.
Some have previously questioned the seeming lack of competition in this space. To ease concerns, Zuckerberg has previously insisted that many Americans use multiple social apps on a regular basis and not just Facebook. However, what some might be unaware of is that Facebook owns a great deal of the competition, including WhatsApp and Messenger, but thankfully it doesn't own all of it. Will users continue to drop Facebook and go with Facebook-owned alternatives or might they venture to explore the real competition that's out there? It's hard to see how Facebook could repair the reputation now that has been damaged in the eyes of so many, who have already made the decision to say goodbye to some extent.
Pics:
Pixabay
I find the sentiment in general is to become tired of the crap and time sink that is facebook. Kids will definitely go for an easier and more visual option.
Google + is going away (most likely becoming something a bit different with a different name) so you know people are looking for alternatives.
I knew face book was "too big to fail" (vomit) haha
Nice to know they own Facebook 2.0 = Instagram! My goodness!
Always learn something good and disturbing from you blog. Keep up the great work my friend.
You know...for about two years now, I’ve been saying that the kind of blogging that most people expect to see on Steemit is not where social media is trending. I liked the @steepshot idea and thought that this app would be the best way to reach the larger and younger social media crowd. Despite their attempts to create an Instagram clone that would cater to such a crowd, they don’t seem to have gotten much support around here.
I think an app like Steepshot (despite the awful name of it) has a much better chance of “mass adoption” than any of the other blogging interfaces that mostly just attract spammers and beggars to the blockchain who are mostly just looking for an easy payday - no matter what they need to do to get it - instead of actual social media interaction.
Social media is dominated by the younger crowds. That needs to be tapped into. If you can attract the youth, your chances of being successful increase exponentially.
Get the youth. Get the content consumers in on the action. That’s your meal ticket for this blockchain. That’s where you’ll get your “mass adoption.” Long-form blogging/bloggers just isn’t it.
haven't seen you around here in awhile...😂👍
Yeah, but...long-form blogging. It's a valuable art form. Don't leave me behind to die just because I'm old!!!
There’s a place for it. It’s just not where social media has been trending for many years. Every market has a niche. But “mass adoption” likely will not come from this one.
That doesn’t mean you shouldn’t continue with it or that you shouldn’t be rewarded for quality work. It’s all about reaching the right people - your target demographic - whether it’s an individual content creator or an entire platform and whether they’re seeking specific or general results through their networking efforts.
what about that other one being developed? appics? maybe that'll set it off 🚀
Appics...lol. The ones that claimed to be “the first SMT” last fall? Yeah, I don’t put much stock into that one. :)
there will always be some readers out there 📖
but who knows?
maybe not😂😂
I dont use facebook at all but i love using instagram.
Sir do you remember once you helped me but suddenly you stopped helping me,dont know why
interesante noticia amiga las redes son utilizadas mayor mente por los jóvenes y hoy en día están utilizando mas el Instagram que el facebook
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Facebook is the best place for gossip and procrastination. From what I know, the majority of productive people mostly use reddit, discord and telegram. Facebook has become a place for children and teenagers to share their memes and adults gossiping and shitposting.
I deleted it 1 week ago, and the only thing I notice is that most of my friends are not very active on other social media so communicating with them is a pain in the ass. So, I think that's the only reason I'd use Facebook again (at least messenger). In the near future, I think most people will migrate to Instagram, snapchat, etc, and Facebook will be replaced like windows messenger was before. The only hope for Facebook is that they change a lot of things, which doesn't seem to be happening any time soon anyway...
can you imagine a world where facebroke buys up twitter, snapchat, and the top 10 social media businesses ....... shudder!