Facebook is heavily ‘disgraced’ because of TikTok

According to reports, over the past decade, searches for the term Facebook globally have dropped by 87%.

Several market studies have shown that Facebook is unlikely to attract users under the age of 30. The social network “giant” is losing its appeal to young users in key markets despite rebranding to Meta. Facebook’s daily active users (DAUs) fell from 1.93 billion in Q3 2021 to 1.929 billion quarters later, which is Facebook’s first DAU decline in a quarter.

Facebook says that user aging is a threat to the business and it is working to fix it. Facebook’s struggle to attract users under the age of 30 has been going on for years, since the beginning of 2012, but the results have not been positive.

According to a report by scientists at Facebook, many young people think that Facebook is a place for people in their 40s and 50s. Young people also rate content on Facebook as boring, misleading and negative. often have to skip irrelevant content to get to the important content. Additionally, teens say they have many negative relationships with Facebook, including privacy or mental health concerns.

This is exacerbated when Facebook faces potential competitors. According to a report from App Annie in 2021, time spent on TikTok increased 325% year-over-year in 2020, beating Facebook in terms of monthly hours per user.

In February 2022, Meta CEO Mark Zuckerberg blamed the boom of TikTok for the drop in users on Facebook.

“The company’s products are still used by many teenagers, but we face stiff competition from Snapchat and TikTok,” said Joe Osborne, a Facebook spokesman. It is estimated that young people spend 2-3 times more time on TikTok than Instagram and Snapchat.

Meta then rolled out the Reels short video editing and sharing feature on Instagram and Facebook to compete, but has yet to achieve the same level of engagement as TikTok.

Additionally, Apple’s “app tracking transparency” feature, introduced in 2021 on iOS 14.5, also puts more pressure on Facebook. Specifically, this feature allows iOS users to prevent apps from tracking them on the web. This is bad news for Meta’s business, as it will limit their determination of advertising targets to sustain their company.

Some advertisers have left Facebook, while TikTok is becoming hugely popular because it’s more “affordable” per 1,000 impressions. As a result, Facebook lost $10 billion in ad revenue. This represents nearly 9% of the company’s 2021 revenue.

Huong Dung (Synthetic)