Saturated globally, the number of users cannot be increased, businesses compete to transfer advertising money to other platforms
When it comes to social networks, surely no one is unaware of Facebook – a platform with billions of users around the globe. It is still one of the largest social networks in the world today. However, in the past few years, Facebook’s position seems to have somewhat declined, partly because of the competition of many other competitors, partly because of the turning away of a part of users.
A recent report by media company BuzzFeed shows that more and more users are spending less time “surfing” Facebook. Some even quit Facebook altogether for various reasons.
Specifically, Felicia DellaFortuna, chief financial officer of BuzzFeed revealed: “As of now this quarter, we continue to see users spending less and less time on Facebook each day.
The time they spend on content on Facebook fell 4% in the fourth quarter of 2021 compared with the same period a year earlier. Along with that, the decrease in the number of users reflects the trend of leaving Facebook and moving to other platforms like Instagram or TikTok.”
According to Ms. Felicia, these factors will affect Facebook’s revenue. That is why this company is increasing the content promotion on the platform to increase competition with competitors.
Earlier, a report by Meta – the parent company of Facebook also showed that the number of daily active users on the platform had decreased slightly, to 1.93 billion people. This is the first quarter Facebook has faced this situation.
The drop of 500,000 users is not huge, but it is taken as a sign that it seems that Facebook has grown to saturation globally, the number of users has reached a “peak” and cannot be increased any more. .
On the other hand, in recent years, Meta is also facing fierce competitive pressure. Its Instagram application is considered to be somewhat inferior to the short video sharing social network TikTok, which is very popular with young people. To attract users and catch up with competitors, Meta has launched a similar feature called Reels.
TikTok is considered a serious competitor of Facebook (Photo: Internet).
During a meeting with Meta investors last month, Mark Zuckerberg expressed concern: “Users today have a lot of choices in how to spend their time for entertainment. TikTok is one of the platforms that have development is fast. Therefore, developing Reels is very important in the long run.”
According to the Facebook boss, in the future, the company will still face many difficulties in developing the platform, increasing interaction and attracting users. Besides, the new privacy policy on iOS is also a headache for Facebook because it significantly limits their ability to advertise to iPhone users. A statistic last year showed that up to 96% of users in the US had “banned” Facebook from tracking their activities.
Finally, the fact that Meta focuses too much resources on building Metaverse is also considered as one of the reasons leading to the current predicament.
On the business front, BuzzFeed says most people access their purchases on Facebook. As a result, user abandonment of Facebook could affect companies whose revenue relies heavily on the platform like BuzzFeed.
“To reduce dependence on a single platform (Facebook), many companies are developing images on many other emerging social networks,” added Ms. Felicia.
at Blogtuan.info – Source: genk.vn – Read the original article here
