Facebook is losing its market to Snapchat
Youth users start declining among the worlds largest social media Facebook.
Posted 3 years ago in International, updated 3 years ago.
A report by eMarketer said Snapchat is drawing youths away from Facebook at a quicker clip than Facebook.Facebook is still growing in the US market, according to the research firm, mainly due to increases in usage by older age groups. Facebook is losing its market to Snapchat.
Where is youth going -
Facebook is losing younger users to Snapchat at an even faster pace than previously expected. The research firm said it expected the first-ever decline in the 18-24 age group in the US, a drop of 5.8 percent this year. The under-12 age group meanwhile will see a decline of 9.3 percent this year, eMarketer said.The same trend is expected to continue into 2019 and 2020, with declines in all segments of US users under 25, the report added. Facebook will lose an estimated two million users under 25 this year, with Snapchat and Instagram the main beneficiaries.
The report said Snapchat will add 1.9 million users under 25 in 2018 and Instagram will add 1.6 million. Snapchat, which is known for its disappearing messages, will continue to have more users aged 12 to 24 than Instagram, the researchers said.
Shares of Snap dipped 0.9% to close at 18.63 on the stock market today. Facebook shares were up 0.2% to 176.41.