There has been a general perception over the past few years that millennials are abandoning Facebook and looking for new solutions like Snapchat and Instagram. We decide to find out if there is a truth behind this.
According to Mashable, the main reasons for that is the overwhelming nature of the site. The mess of targeted ads, Instagram pictures, and shared articles – it just seems like noise.
Furthermore, it is annoying that you need to hide your content because maybe your future employers will go through your account. Or maybe your ex? For young people is hard to get over an ex when they see her/his constant status updates or her/his weekend party pictures.
The huge problem is that Facebook causes anxiety; many users feel they have to either acknowledge their problem to their entire network or pretend everything is fine – and either takes a psychological toll. And the last, but not the least reason for abandoning Facebook is that you can’t. Young people are trying to do that, but Facebook is too much integrated into their lives.
All that might be true, but we don’t agree completely with that. Those are maybe consequences of using Facebook but this social network is still more popular than the other ones.
A new comScore report highlights data on a whole range of Internet trends. The chart below shows the percentage of 18- to 34-year-old Internet users who frequent each major social network each month. You can also see how much time those users spend on each service.
Can you see where is Facebook? It’s alone up there in the upper right-hand corner. There is a proof that nearly every millennial who is using the Internet in America (and we believe the situation is the same in the rest of the world) still uses Facebook on a regular basis. It seems that investors and the media panicked that Facebook would experience a mass exodus of young people.
We can also see how those millennials spend more than 2.5 times as many minutes on Facebook as they do in its closest competitor — Snapchat. Facebook-owned Instagram is a very close third.
So, the conclusion is that Facebook still has a young people. This might explain why its market cap is near $340 billion.
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