For the first time in its 18-year history, the number of daily active users of the social network Facebook has decreased. According to parent company Meta Network, in the last three months of 2021, Facebook’s daily active users have dropped to 1.92 billion. During the same period last year, Facebook’s daily active users were 1.93 billion.
Meta fears that revenue could also decline due to rival companies such as Tiktok and YouTube. The advertiser also said that Meta could lose revenue due to reduction in advertising expenses. Shares of Meta also fell more than 20 percent. According to the BBC, Meta has incurred a loss of 200 billion US dollars due to the fall in share price. Along with Meta, shares of social media platforms like Twitter, Snap and Pinterest have also declined.
Meta chief executive Mark Zuckerberg said his company was losing revenue because young users were turning to rival companies. After Google, Meta is the world’s largest digital platform for advertising. But the company says that Meta has been affected by Apple’s changes to its operating system.
According to Dave Weinher, chief financial officer of META, Facebook and Instagram are likely to lose about १० 10 billion this year through advertising. A large portion of Meta’s total revenue comes from advertising. Meta has set a revenue target of 27 billion to २ 29 billion for the coming quarter.
Recently, a ticket operated by Chinese technology company Byte Dance has challenged Facebook. Tiktok, which has become very popular lately, has about one billion users. Facebook is increasing its investment in video content to compete with Tiktok . Zuckerberg believes the company will benefit from more investment in video and virtual reality.
According to James Clayton, the BBC’s technology correspondent for North America, Facebook has recently become more popular with the younger generation. Earlier, Facebook users used to increase in every quarter, but now it has decreased, he said. Clayton noted that the ticketing has challenged Meta’s business. He says that even if the name is changed, investors will not be attracted as Meta does not appear to be making Metaverse immediately.
Facebook, which is dominating the social media market, is also trying to buy tickets. But US policy against market monopolies will not make the process easier for Meta.
