Facebook Loses 1 Million Users For The First Time While TikTok & Instagram Are On The Rise
When reporting the company’s financial results, Facebook revealed that it had lost users for the first time in its history. The Californian giant has lost one million daily active users in three months.
Its business model is increasingly being eaten away by newer social networks and Gen Z’s preference to these platforms.
Never since its creation has Facebook lost users from one quarter to another. This is now a reality for the social network belonging to the freshly rebranded Meta group.
As a direct result of this downward trend, the group’s share price has fallen by 22% on Wall Street.
And while the fall in users is far from extreme – with the loss of about 1 million active daily users in the last three months, out of 1.93 billion users – it reflects a real trend around the world.
The Facebook social network is clearly losing ground to competitors such as TikTok or Instagram (even though the latter belongs to the…
#Showbiz: Tales of baggage, closure and moving on in new Theatresauce production