Bad days of FB begin: Millions of youth are cutting edge, number of daily users decreased by 1 million
Since the launch of Facebook, the number of its users has been increasing continuously, but in the report released on Wednesday, Facebook has got a setback. For the first time this has happened, when the users of Facebook have decreased.
Along with this, the company's ad growth is also expected to decrease. After the report came, the company saw a huge fall in the stock and the market value of Meta decreased by $ 200 billion.
Facebook recently changed its branding and changed the company's name to Meta, but it doesn't seem to be of any use. According to the report on Wednesday, not only has the user growth of Facebook, Instagram and WhatsApp been flat in the last quarter, but the number of daily users of Facebook App in North America has decreased by one million.
What is the reason?
North America is the place where the company earns the most through ads. Due to this reduction, the number of global daily users of Facebook has also decreased. The number of daily users of Facebook has come down from 1.93 billion to 1.929 billion. It seems that the interest of the youth in Facebook is decreasing. However, Meta did not specify the number of Instagram users.
In recent times, questions have been raised on Facebook due to privacy and other reasons. The company has not been able to give any concrete reason regarding this. On the other hand, the entry of other apps like TikTok is also affecting Facebook.
Last year's profit
In the report released on Wednesday, it has been said that the company's profit may decrease by $ 10 billion. The reason for this is Apple's privacy feature. Meta made a profit of $ 40 billion last year. Most of it comes from advertising, but the company is losing billions of dollars due to Reality Labs.
This division works on Quest VR headsets, VR software, upcoming AR glasses and other things related to the Metaverse. Last year, the division had a loss of $10.2 billion, while its income was only $2.3 billion. Meta is yet to reveal the sales numbers of Quest.