Facebook Is Losing Young Adults, Instagram Goal Is Having a Record Year

Instagram has surpassed SnapChat as the most popular social media app among U.S. teenagers. Unsplash

In early May, a few weeks after it was revealed that Facebook had a number of comments on the subject. event. The findings, consisting of Facebook's strong first-quarter earnings, suggest that most people were unconcerned with such privacy hiccups.

But five months in, the situation seems to have changed.

A new survey by Pew Research Center of more than 3,400 U.S. Facebook users found that 44 percent of respondents between the ages of 18 and 29 had deleted the Facebook app from their phone in the past year.

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Off all the age groups (18 to 65+) surveyed, 26 percent said they had deleted the app; 42 percent said they had "taken a break" from Facebook for several weeks or longer; and 54 percent of their content to better protect their personal information.

The sample surveyed by Pew was just a tiny fraction of Facebook's 2.3 billion users and did not include users outside the US, where Facebook's market share is growing more rapidly. But the findings, in conjunction with Facebook's latest financial results, show that the impact of Facebook's series of PR crises over the past year has begun to increase their profits.

In July, after Facebook reported less than expected second-quarter earnings, company shares plummeted by 20 percent in one day–the biggest single-day plunge the U.S. stock market had ever seen. Since then, Facebook has lost 30 percent of its market worth.

And yet, as a company, Facebook may have a chance for a strong rebound. While Facebook is losing its appeal to young adults, some of Mark Zuckerberg's early acquisitions are beginning to lock down a younger generation.

A separate survey released on Monday of U.S. teenagers showed that Instagram, the photo-sharing app that Facebook acquired for $ 1 billion in 2012, has surpassed the most popular social networking app among teenagers for the first time.

The Piper Jaffray survey of over 8,600 teenagers with an average age of 16, found that 85 percent of teens use Instagram at least once a month, compared with 84 percent who uses SnapChat.

As a result, Instagram's appeal to advertisers is also growing.

"Instagram continues to show dominance in selling, as teens overwhelmingly prefer [that] brands contact them on Instagram vs. other channels, "Piper Jaffray Analyst wrote in a research note.

Consistent with the Pew findings, Piper Jaffray's poll found that only 28 percent of 15-year-olds used in the fall of 2018, down from 40 percent two years ago.

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Last month, Instagram cofounders Kevin Systrom and Mike Krieger are abruptly resigned from their CEOs and CTO positions at Instagram, reportedly over rising tensions with parent company, Facebook.

When Facebook acquired Instagram in 2012, the photo-sharing app had 30 million users but no revenue. As of June this year, the user generated $ 2 billion in advertising sales, about 15 percent of Facebook's total revenue.