[OLD NEWS] Facebook loses daily users for first time
#1
(This post was last modified: 04-28-2022, 09:58 PM by Kyng.)
https://www.theverge.com/2022/2/2/229149...e-earnings

Since its inception, Facebook’s user growth has essentially been up and to the right. But on Wednesday, it reported its first-ever quarterly decline of daily users globally, along with lower-than-expected ad growth that sent its stock plunging roughly 20 percent.

The massive stock drop, which instantly wiped out roughly $200 billion in market value, shows that Facebook’s corporate rebrand to Meta isn’t enough to distract investors from the problems in its core business of social media. Not only was user growth across Facebook, Instagram, and WhatsApp essentially flat last quarter, but the main Facebook app lost 1 million daily users in North America, where it makes the most money through advertising. That drop led to an overall decrease in daily users of Facebook globally, which a company spokesperson confirmed is the first sequential decline in the company’s history.

That drop to 1.929 billion daily users from 1.93 billion the prior quarter is likely a reflection of Facebook’s increasing lack of relevance with young people. Meta doesn’t break out Instagram’s user numbers, but daily users across all of its apps barely nudged higher to 2.82, adding just 10 million users from the third quarter.



Hardly surprising, honestly. In fact, the biggest surprise is that this hasn't happened already, given that they've never been far from controversy over the past few years; they're no longer considered 'new' and 'cool'; and they have no room for growth any more.

It may only be a very slight drop (from 1.930 billion daily users to 1.929 billion daily users) - but I strongly suspect it's a sign of things to come...
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#2
I'm surprised it took this long.

Facebook has consistently betrayed its own principles and has done Jack to stop the usage of the platform for illegal activities.

Besides, the place is crawling with bullies.
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#3
(This post was last modified: 02-03-2022, 11:47 PM by SpookyZalost.)
I wonder what's the hip, new, cool thing people are moving to?

Personally I'm rooting for stuff like Minds or the Feddiverse.

A Distributed, Decentralized collection of user controlled pages where people can cluster together rather than relying on monolithic structures like facebook, myspace, etc.

Ironically it's sort of like a re-imagined version of the web 1.0 geocities concept where everyone just made their own personal page.

that and I always preferred OG myspace customization to how things are now, it kinda blows not having creative freedom over the appearance of your social media profile like back in the old web 1.1 days.
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#4
This is a sign that we all should just get back to using forums
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#5
If I am honest, I am not sorry or surprised to read this and I certainly agree - I much prefer forums and long may they last.
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#6
(02-03-2022, 11:56 PM)Frances Wrote: This is a sign that we all should just get back to using forums

Long live the forums
 
Quote: 
Personally I'm rooting for stuff like Minds or the Feddiverse.

that and I always preferred OG myspace customization to how things are now, it kinda blows not having creative freedom over the appearance of your social media profile like back in the old web 1.1 days.
 
I agree. 
I liked freedom to customize your social media profile. If you wanted way too many horses that your profile looked bad you could do that. 
I heard of minds a few days ago but never heard of Feediverse. Looks pretty sweet and going to look into it more.
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#7
(02-03-2022, 11:46 PM)Spook of the lost Wrote: I wonder what's the hip, new, cool thing people are moving to?

Personally I'm rooting for stuff like Minds or the Feddiverse.

A Distributed, Decentralized collection of user controlled pages where people can cluster together rather than relying on monolithic structures like facebook, myspace, etc.

Ironically it's sort of like a re-imagined version of the web 1.0 geocities concept where everyone just made their own personal page.

that and I always preferred OG myspace customization to how things are now, it kinda blows not having creative freedom over the appearance of your social media profile like back in the old web 1.1 days.

Well said. It was so much fun and looked more creative and interesting
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#8
(02-03-2022, 11:56 PM)Frances Wrote: This is a sign that we all should just get back to using forums

That would be nice and I echo your feelings... but that simply won't happen (at least in numbers comparable to two decades before). Why? Because people have gotten used to the notification-heavy, buzzword-complaint, instant nature of social media and would not settle for less. I mean, for all their greatness, forums and remarkably slow and have no flow in the conversations as they happen - that's fine with me, but younger generations will not take it. It would be like having someone used to Netflix wait a week before releases. They'd go nuts.
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#9
(02-03-2022, 11:46 PM)Spook of the lost Wrote: I wonder what's the hip, new, cool thing people are moving to?

Personally I'm rooting for stuff like Minds or the Feddiverse.

A Distributed, Decentralized collection of user controlled pages where people can cluster together rather than relying on monolithic structures like facebook, myspace, etc.

Ironically it's sort of like a re-imagined version of the web 1.0 geocities concept where everyone just made their own personal page.

that and I always preferred OG myspace customization to how things are now, it kinda blows not having creative freedom over the appearance of your social media profile like back in the old web 1.1 days.

I have heard of Minds, but not the Fediverse. Perhaps I might check them out one day, but for the time being, I don't really have any reason to: the only thing I still use Facebook for is keeping in contact with my real-life friends (and other online friends who aren't on forums), and there's no point in me switching from Facebook to a platform where those people aren't present :P .

Though, to answer the question of "Where are these people going?", I suspect the main place is TikTok. I know Facebook and TikTok aren't really in competition with each other (except on a very basic level of "I only have limited hours in the day: what do I do with it?") - but people have been spending a lot of their idle time on TikTok in the past year or two, and I suspect some of that would previously have been on Facebook.

The full article contains a tweet which explains what Facebook's main problems are when it comes to growth strategies - and I'll embed it here:


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Moonface (in 'Woman runs 49 red lights in ex's car')' Wrote: If only she had ran another 20 lights. :hehe:

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#10
Seems this was just a blip - because, daily active users are up 4% on the same period last year once again:

https://news.sky.com/story/facebook-pare...r-12600307

Still, their revenue of $27.9bn for the first three months of 2022 was lower than expected (they thought it would be in the $28-30bn range) - so, it's not all good news for them!
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Moonface (in 'Woman runs 49 red lights in ex's car')' Wrote: If only she had ran another 20 lights. :hehe:

(Thanks to Nilla for the avatar, and Megan for the sig!)
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