Facebook Lost Almost 3 Million Millennial Users Last Year

Facebook has a 'teen problem' as younger audiences look to Snapchat

FACEBOOK is set to haemorrhage younger users - who prefer rival services like Snapchat - in 2018, according to top analysts. Facebook lost approximately 2.8 million U.S. users under 25 previous year, a small amount in comparison to the company's vast user base but indicative of a general decline in interest for the platform amongst younger Americans.

In a report on Monday, eMarketer said about 71% of the United Kingdom users between 12 and 17 years old would use Facebook this year, a drop of 8% from last year's forecast.

Debra Aho Williamson, Principal Analyst at eMarketer, said: "Snapchat could eventually experience more growth in older age groups, since it's redesigning its platform to be easier to use". Facebook usage among kids younger than 12 will drop more than 9 per cent, with declines of about 6 per cent each among 12- to 17-year-olds and 18- to 24-year-olds.

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It's the first time eMarketer has predicted a decline in the number of US Facebook users in those age-groups.

Facebook's loss could be Snapchat's gain.

Facebook still has 1.4 billion daily active users globally and Instagram has more than 500 million, while Snapchat has 187 million daily active users. At the same time, Snapchat users are expected to grow by 9.3% to reach 86.5 million. In total, it will lose 2 million users ages 24 and younger in 2018 alone. Facebook has been struggling with attracting younger users for several years, but its efforts don't appear to be making much of an impact as these consumers continue to seek out what's new and innovative in mobile.

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Ready to get started? Snapchat will age 1.9-million users from that group, while Instagram will add 1.6-million. That represents a decline of almost 10 percent, or roughly three times what analysts had predicted.

To be sure, Facebook is still the world's leading social media platform, and it saw explosive growth in 2017. According to a survey, less than 50% of Internet users in the 12-17 age bracket will access Facebook once a month. "It just won't be as cool to certain age groups".

For me, it's a lot simpler than that: Facebook just kind of sucks now - it's getting creepier with each new year and is, for all intents and purposes, more of an advertising platform these days than a true social network. The social networking giant is losing users to Snapchat faster than it would have liked. Older users, with more money to spend, would help infuse Snap with much-needed revenue to continue its growth and innovation.

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