Facebook recently admitted that teens are becoming bored with the social networking giant and are switching over to apps such as Snapchat and Instagram (which is owned by Facebook).
According to the Daily Mail, Facebook published its annual 10-K report last month, which stated that its younger users are increasingly turning away from Facebook:
We believe that some of our users, particularly our younger users, are aware of and actively engaging with other products and services similar to, or as a substitute for, Facebook. For example, we believe that some of our users have reduced their engagement with Facebook in favor of increased engagement with other products and services such as Instagram.
In the event that our users increasingly engage with other products and services, we may experience a decline in user engagement and our business could be harmed.
Facebook Director of Products Blake Ross recently announced why he was leaving Facebook: "I’m leaving because a Forbes writer asked his son’s best friend Todd if Facebook was still cool and the friend said no, and plus none of HIS friends think so either even Leila who used to love it, and this journalism made me reconsider the long-term viability of the company."
Ross reportedly pulled the jesting message from his Facebook page.
The founder and of new social networking site Branch.com, Josh Miller, recently asked his fifteen-year-old sister for her opinion on Facebook: "She tries to visit Facebook as infrequently as possible, because it’s addictive, and because it’s not as fun as Instagram. 'Facebook may have an irreversibly bad brand."
"I think it has less to do with kids consciously looking for 'the next big thing' than Facebook just no longer being a space that serves them," said web-expert Laura Portwood-Stacer. "I think kids are less self-conscious about trying to be cool than marketers would like to think."
Source: Daily Mail