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No! Youngsters are not leaving Facebook

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New York: Young people are still quite hooked to Facebook, the media reported, refuting the popular belief that youngsters are increasingly abandoning the social media giant.

While investors and the media, in 2015, panicked that Facebook would experience a mass exodus of young people, nearly every internet-wielding millennial — those born after 1980s and now in their 30s — are still obsessively using Facebook on a regular basis, the report said.

Millennials spend more than 2.5 times as many minutes on Facebook as they do on its closest competitor Snapchat, Recode.net reported on Wednesday.

Facebook still has young people, which explains its market cap of nearly $340 billion, the report stated.

The report is based on data from comScore — an US-based Internet analytics company, which showed the percentage of 18- to 34-year-old Internet users who frequent each major social network each month. It also showed the time users spend with each service.

Nearly 100 percent of people aged 18 to 34 in US use the social network as of December 2015.

The data also revealed that Facebook users are on the site (or app), on an average for more than 1,000 minutes a month. Snapchat comes second with under 400 minutes.

Moreover, the data showed that people older than 35 love Facebook almost as much as young people do – and they don’t care about any other social networks. (IANS)

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Facebook Denies Reports About Marc Zuckerburg’s Indifference Towards Publishers

Facebook said it is also working with publishers across the US and Europe to test support for subscriptions in "Instant Articles".

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Facebook refutes report 'Zuckerberg doesn't care about publishers'. Pixabay

Facebook has denied a media report that cited one of its senior executives as saying that Mark Zuckerberg doesn’t care about publishers.

The Australian on Monday reported that in a meeting with Australian media executives, Facebook’s Head of News Partnerships Campbell Brown said: “Mark Zuckerberg doesn’t care about publishers but is giving me a lot of leeway and concessions to make these changes”.

Brown reportedly said that publishers who choose not to work with Facebook will wind up in a dying business.

“Facebook said the remarks were inaccurate and taken out of context,” Fortune reported.

Facebook's CEO Mark Zuckerberg, May 23, 2018. VOA
Facebook’s CEO Mark Zuckerberg. VOA

The Australian claimed the story was based on information from five people present at the meeting with Brown who requested anonymity.

Earlier in August, Facebook announced to invest an additional $4.5 million towards helping the publishing industry globally.

The social media giant, that reported more than $5 billion in profit in the second quarter this year, said it will give $3.5 million towards “Facebook Membership Accelerator”, a three-month pilot programme designed to help publishers with membership models.

“We are going to continue to coach the group of metro news publishers from the pilot programme through the end of this year, and we will reconvene with them in 2019 to focus on subscriber retention,” Brown said in a blog post.

Facebook
Facebook said it is also working with publishers across the US and Europe.(IANS)

Facebook also announced to contribute $1 million to the 2018 “NewsMatch” campaign which matches individual donations to more than 100 non-profit newsrooms around the country.

Also Read: Slow Disclosure of Tesla Raising Governance, Social Media Concerns

Facebook said it is also working with publishers across the US and Europe to test support for subscriptions in “Instant Articles”.

“Moving forward, we’ll also be exploring ways to support emerging models like membership directly on Facebook,” said Brown. (IANS)

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