New Delhi: Even after having concerns of Mark Zuckerberg’s Facebook to go down, the social media network has shown a fantastic turnover in last few years. As suggested by many studies, a huge audience departed from the app due to privacy concerns, making the social media network’s survival skeptical.
In 2010 when Facebook was rolled out in India, the app became an all-time favorite to most young adults. Many reports suggested that Facebook, which used to be a go-to app for everyone, witnessed a mass departure.
The young adults started to prefer other social media platforms like picture-sharing app Instagram and Twitter (now X) for raising concerns and being vocal. At earlier times, there used to Facebook for all such activities.
About The Major Shift
The gradual departure from the social media app had threatened the Facebook business in India. Those born between 1997 and 2012, also known as Generation Z and whom we are calling young-adults here were the Facebook’s audience.
The major shift of this section from the Facebook raised the speculations that the app would loose its popularity and would reach to a point where revival might seem next to impossible as applications became favorite to its audience.
Coming on to that, Zuckerberg who had realised the threat made its intentions clear to make attempts to bring back its user. During those years, Meta made many changes or it would be safe to say, it duplicated many features from other application.
“We are retooling our teams to make serving young adults their North Star rather than optimising for the larger number of older people,” said Zuckerberg in 2021.
Facebook Turnover
Facebook revenue recorded a declining trend by ending up at current turnover is 116.6 billion USD in 2022. Prior to that in 2021, the social media network was at 117.92 billion USD.
Meanwhile, Meta’s Indian arm, Facebook India, generated revenue of over 23 billion Indian rupees in fiscal 2022, up 47% over the previous year. Advertising revenue alone increased 74% according to regulatory filings, reported business portals.