Facebook, is it dying?

Social Monopoly

Is Facebook dying? A question I get asked often and the answer is fairly straightforward, No it’s not.

Despite everything that’s happened the past Four Years, with Cambridge Analytica, Data breaches and concerns about privacy and addiction, it’s never been a better time to be a brand looking to market their goods to a new audience.

Facebook, the platform, is actively used every month by over two billion people, with the average time spent per visit ranging from 15-45 minutes. Every brand on the planet has some form of presence on THE Social Network, whether that’s a stagnant business page or they’re actively producing Social first content, chances are you can search for any make of Clothing, Beverage, Tech Firm or Film Studio and they’re all there.

When people suggest that Facebook is dying, it’s usually as a result of a failed marketing campaign or a formed opinion based on very few facts. The platform does have one issue though, and that’s attracting new, younger users. The average age of those currently on the platform is 26 Years Old, and when you look at the average age of new accounts being opened is well into the 40’s (we’ve all got at least one random colleagues Dad amongst our Facebook Friends), it becomes clearer that Big Blue isn’t exactly down with the kids.

This does of course present an issue for brands that are eager to appeal to a more youthful, dare I say more impressionable target audience, but for every brand that wants to appeal to the under 20’s, there’s a Marks and Spencer looking to flog their latest range of Cardigans.

Facebook, the business, however, is the complete opposite. They can rely on a number of other Social Media platforms to attract a younger audience, chief amongst them is Instagram. Boasting an impressive one billion active users, the average age of account holders is far lower at 21 years old and new account openings average age is 23 years old, with 72% of all teenagers having an account and active on a daily basis. WhatsApp, Facebook Messenger and Oculus VR are just some of the other companies under Mark Zuckerberg's control, again all have their individual appeals and demographics, but it is now known that 78% of all text messaging is performed on the former two platforms, with SMS by provider taking a large share of the remaining 22% (WeChat is included as WhatsApp).

Do Not Pass Go!

Despite Facebook's strength in being able to attract or retain the older generation and their efforts to acquire the platforms that seemingly do the exact opposite very well, nothing lasts forever. Will Facebook ever die out? as the current account holders become bored, seek something new or bid to keep up with their own Children and changing trends? I think it’s very practical to assume that it will at some point, at least in its current form, they’ve already started to transition people more toward smaller groups with people of shared interests and promoting Facebook Stories as the preferred way to share content. I’m known to make the odd bold prediction and where the traditional newsfeed is concerned, I think it’ll be completely erased within the next 3 years, replaced instead by 9:16 Video, the odd sponsored advert and updates via groups. Beyond that Facebook are working on an innovative VR Platform with their subsidiary Oculus VR called Horizon, in which you can meet, play games and talk with your Facebook Friends “Face-to-Face” further promoting their mission in creating meaningful connections.

What are your thoughts or predictions for what’s next for Facebook?

Do you think it’s on the way out, or just getting started?