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Facebook celebrated its 14th birthday earlier this year, and this popular social media platform is starting to show its age. People over 55 are now the fastest-growing demographic using -and joining- Facebook, as teens and young adults ditch Mark Zuckerberg’s social network in favor of Snapchat, Instagram, and Twitter. According to a UK report, only 2.2 million 12- to 17-year-olds and 4.5 million 18- to 24-year-olds will regularly use Facebook in 2048-- this is a decrease of 700,000 from 2017. The largest growth this year is found in the older population, with 500,000 new over-55s expected to join Facebook. This will result in over 6.4 million 55 to 65-year-olds, or older, regular Facebook users this year! Literally the biggest demographic except for 16- to 34-year-olds.
In 2012 Facebook bought Instagram for $1billion, which has helped them be successful in keeping ahold of some of the younger users that have shifted to other social media sites. But increasingly, these younger users are favoring Snapchat. In the last three years Snapchat has more than doubled their users, with stats heavily favoring the younger sect.
Why are people over 55 favoring Facebook? Facebook’s video and photo experience makes it a platform for families, so that grandparents and other older adults can keep in touch easily with their grandkids, and other family members. Facebook is taking note of this trend, earlier this year Facebook announced a major overhaul of its news feed algorithm in which posts from friends and family are prioritised, while also reducing the amount of content from publishers and brands. Zuckerberg himself has pledged to “make sure that time spent on Facebook is time well spent”.
Overall Facebook remains the top social media platform in the world, with 2.27 billion monthly active users as of the third quarter of 2018, and a reported $4.3bn profit for the final quarter of last year, a 61% year-on-year rise. Instagram’s user base is predicted to grow from 15.7 million to 18.4 million, while Snapchat surges from 14.8 million to 16.2 million and Twitter grows from 12.4 million to 12.6 million.
PRDA is Asia’s leading social media agency for a reason, our Founder and Business Director Douglas White is a very high-demand Social Media expert with a proven social media methodology and highly knowledgeable on the largest global ecommerce market; Asia. In 2017 alone, his proven social media methodology was introduced to more than 90 companies, including training over 600 professionals in various industries. PRDA is ready to provide your company with the digital transformation it needs! Contact us for details
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