Facebook is gradually being forgotten?

The website Banklesstimes.com reported that young people’s growing disinterest in social networking sites along with the boom of TikTok is the cause of the decline in searches. Facebook Global.

Several market studies have shown that Facebook is unlikely to attract users under the age of 30. This social networking site is losing traction with teen users despite rebranding to Meta. From 1.93 billion daily users in the third quarter of 2021, the number of users continued to decline to 1.929 billion in the fourth quarter of 2021, of which North America, where Facebook’s highest revenue source, is the region the area with the largest decrease. This is exacerbated when competitors are about to enter the market.

In February, Meta CEO Mark Zuckerberg blamed the company’s loss of users on the boom of TikTok, which is currently the leader in the user-generated short video market.

Although Meta, which also owns Instagram and WhatsApp, has also offered Reels on the photo and video sharing app, they have yet to reach the engagement level of Tiktok. According to Mr. Zuckerberg, the company is working to introduce its short video product to try and aim to surpass TikTok.

Apple’s “app tracking transparency” feature, introduced in 2021 with version 14.5 of the iOS mobile operating system, is putting more pressure on Facebook, according to multiple reports. iPhone users must provide explicit consent for the app to monitor based on device ID and user level.

Recently, a number of advertisers have left Facebook. As a result, Facebook lost $10 billion in ad revenue. This represents nearly 9% of the company’s 2021 revenue. This is important because it’s a quarter of the company’s total annual profit, the report said.

Previously, according to data from Bloomberg, with a market capitalization of 565 billion USD, Meta – the parent company of Facebook – dropped to 11th place in the list of companies with the largest market capitalization in the world. , after Tencent Holdings (China). In 2021, Meta Platforms once ranked 6th with a market capitalization of more than 1 trillion USD.

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