Did you know Facebook is losing its charm worldwide?

Study reports suggest that there has been an 87% decline in the search volume for the term Facebook over the last decade.

Is Facebook losing its charm? Going by the latest information filling the web, the social media giant is being cut to size of late.  It has been found that there has been an 87 per cent decline in the search volume for the term Facebook in the last decade.

Reasons attributed to this sudden decline are the ageing up of the app’s audience, and the growing disinterest in the social media site. Besides these, the TikTok boom has contributed much to the wane in popularity of the Mark Zuckerberg owned social media space. The global Facebook searches has actually plummeted over the past 10-year period, say market studies.

Young users shun Facebook

The studies also point out that the social media behemoth has been unable to lure under-30 users. Not just those who are around 30 years of age, but also teenage and young adult users across its key markets have been treating the social media space with disdain. The company, which had rebranded itself as Meta some time ago, saw users decrease from 1.93 billion daily users in Q3 2021, to 1.929 billion in Q4.

Much efforts from the part of TikTok and its growing popularity have proved to be a bane for Facebook.  It may be recalled that Meta CEO Mark Zuckerberg had put all blame on TikTok boom for losing its user base. TikTok, for the record, is a major player with amazing growth in the short-form user-generated video market.

It was in a bid to rival TikTok that the Meta company had started offering Reels on its app. However, the company, which incidentally also Instagram and WhatsApp, has not been able to stand up to the onslaught of TikTok. The short video service is a hit in all parts of the world.

Facebook
Chart courtesy: BanklessTimes

TikTok sparks revenue drain for Facebook

The studies have also pointed out that Apple’s app-tracking transparency feature, which the Cupertino-based company had outed in 2021 with the version 14.5 of its iOS mobile operating system, has proved to be bane for Facebook. This because, iPhone users are expected to provide explicit consent for user-level and device ID-based monitoring by apps, said a report.

The decline in popularity is hitting Facebook much more than expected. It has been reported that many top advertisers are moving away from Facebook, and cosying up to TikTok. For them, TikTok is more affordable from a cost-per 1,000 impressions basis. This has also led to Facebook losing $10 billion in advertising revenue, the studies noted.

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