A report released on February 12th 2018 by eMarketer has found Facebook is losing younger users even faster than was originally thought.
The report focuses on Facebook’s second largest market, the USA, and has concluded that while Facebook’s acquisition of Instagram in 2012 for $1 billion may have given it appeal to younger users in the interim, Snapchat is now the destination of choice for social media users aged between 18 and 24 years old.
It also reports that the number of Facebook users age under 11 will decrease by 9.3% (the report doesn’t mention they shouldn’t have an account anyway) and the number of users aged 12 to 17 and 18 to 24 will decrease by 5.6% and 5.8%.
Overall, it states that Facebook is likely to lose 2 million US users aged 24 and under this year, while Snapchat and Instagram will add 1.9 million and 1.6 million respectively.
Despite this, it’s readily apparent that Facebook is still the dominant social network not only in the US but globally. Facebook now boasts a monthly active user count of 2.1 billion and reported a profit of $4.26 billion on revenues of $12.97 billion for Q4 of 2017.
While research has a tendency to focus on what Facebook has lost, research from WeAreSocial and Hootsuite indicates that 610 million of Facebook’s users are aged 18 to 24 and 630 million are aged between 25 and 34 years old.
This contrasts with global monthly active user counts of 800 million for Instagram and 255 million for Snapchat.
These figures demonstrate just how far ahead the social media titan is relative to the competition.