Meta Platforms Inc. (META.O) announced on Friday that Facebook is experiencing its highest number of young adult users in three years. This development marks a significant achievement for the social media giant as it aims to shed its reputation as a platform predominantly used by older generations.
Young Adult User Growth
According to Meta, over 40 million adults aged 18 to 29 in the U.S. and Canada now check Facebook daily. This demographic information, released for the first time, highlights the success of Meta's efforts to re-engage young adults who have been migrating to other platforms, notably TikTok, owned by China's ByteDance.
Strategic Initiatives
Tom Alison, Meta's head of Facebook, explained that the platform has experienced "five quarters of healthy app usage growth" among young adults. At a recent event in New York focused on how young people use Facebook, Alison noted that the app's 20th anniversary prompted a reevaluation of its appeal to the next generation.
"Who is Facebook for? Is it for my parents?" Alison recounted, reflecting the sentiments of young adults. He stated that young users are primarily drawn to sections like Marketplace, Groups, and Dating during significant life events, such as furnishing their first apartments. Although these sections generally do not feature ads, their usage drives broader engagement across the platform.
User Engagement and Features
Once young users are on Facebook, they often explore other sections such as the Feed and Reels, Meta's short video product akin to TikTok. This increased engagement indicates a successful strategy in retaining young users by integrating features that resonate with their preferences.
Historical Context and Current Trends
Facebook, founded in a Harvard University dormitory in 2004 by Mark Zuckerberg, quickly became the go-to communication platform for a generation of internet users. It reached 50 million users within its first three years and now boasts 3.2 billion users worldwide. However, its allure to younger users has waned over the years, with only about a third of U.S. teens currently using Facebook, according to a Pew Research Center survey from last year. This is a significant drop compared to surveys conducted in 2014 and 2015.
Despite this, the overall share of U.S. adults using Facebook has remained steady at around 68% since 2016, according to Pew. The recent uptick in young adult users suggests that Meta's strategic changes may be reversing the trend and attracting a younger demographic back to the platform.
Meta's Facebook is making notable strides in regaining its appeal among young adults. With over 40 million daily users aged 18 to 29 in the U.S. and Canada, the platform is poised to remain a significant player in the social media landscape. Continued innovation and adaptation to the preferences of younger users will be crucial for maintaining this momentum.
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Source: Reuters
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