Content written on 2017, updated on 2024
The landscape of electronic media is in a constant state of flux, with trends evolving rapidly. A social networking site is an online platform where users can create profiles, share their thoughts and connect with other users. Traditionally, people use social networks to stay in touch with family and friends and connect with people with similar interests. These platforms are rich in features, enabling users to create, share, and evaluate a wide range of content, from thoughts (status) to photos, opinions, and news. Four of the most popular social media networks worldwide in 2024 are Facebook, YouTube, Instagram, WhatsApp, TikTok, WeChat, Telegram, Snapchat, doujin, Facebook Messenger, etc.
Is Facebook still the best platform out there? Undoubtedly, Facebook has emerged as a pivotal platform for online communication. It has transcended its original purpose, becoming a cornerstone for marketing, advertising, and other interactions for countless companies worldwide. Its role as a source of communication and online interaction is continually evolving. Facebook is undeniably a social networking giant, shaping the way people share their communication.
Here is a list of the historical development of Facebook:
2004: Facebook was launched in a Harvard dormitory.
2005: The name was changed to "facebook.com".
2006: Facebook opened to the public.
2012: Facebook went public and was valued at $104 billion.
2012: Facebook became the first online service to reach 1 billion monthly active users.
2018: Facebook had 2.32 billion users.
2023: Facebook had 2.11 billion active monthly users.
Here are some updates on growing and declining platforms:
Growth of new platforms: Lemon8, Tumblr, and TikTok have grown the most since 2023.
The decline of other platforms, such as Reddit, X/Twitter, and LinkedIn, saw the most significant decrease in usage.
Voice-first platforms: Airchat, launched in April 2024, focuses on voice-first public messaging.
Decentralized social networks use blockchain technology to prioritize user control and data privacy.
Since its launch in 2004 by Mark Zuckerberg and his Harvard roommates, Facebook has been used by billions worldwide. Before Facebook, the world experienced Friendster (2003) and MySpace (2003).
Facebook is a widely used online social network program whose original purpose was to allow people to share information with friends and family. From a business perspective, It is an effective source of advertising and marketing that allows brands and services to link and promote them. This is a website and a good marketing strategy to complement online marketing techniques, perfect as an online resource to offer services and products. Integrating social media platforms into a business strategy created many opportunities for the sales and marketing of online product selling. In contrast, it also creates challenges due to the increasing number of online competitors and the need for the brand's professional fact-checking issues for content verification.
With its unique features, such as targeted advertising, Facebook has emerged as a powerful tool for online social marketing. For educators, it provides a valuable learning platform, enabling them to reach a wider audience and engage with students innovatively. Its ability to facilitate targeted advertising and marketing strategies has made it a go-to platform for reaching specific customer segments.
Facebook allows people to put their thoughts freely. It is much better for the organization and will enable acquiring knowledge from people who usually do not separate you otherwise. All use this, not just members of athletic individuals, authors, celebrities, and organizations. It is a platform of open social networks. Here, people can honestly review products and services, guiding the marketing industry to an integrated marketing strategy by blending in with potential clients' personal lives and the commercial products they are using.
For me, Facebook is a social media site because it connects with family members, friends, colleagues, organizations or communities with the same interests and hobbies. It is a big part of an individual's connectivity among friends and family, potential clientele, and classmates or colleagues from the past. Even though many media scholars are predicting the decline of this social media platform, for example, researchers at Princeton University (https://arxiv.org/pdf/1401.4208v1 & https://www.theguardian.com/technology/2014/jan/22/facebook-princeton-researchers-infectious-disease) predicted that Facebook would lose 80% of its peak user base within three years. However, Facebook's monthly active user count increased by 14% year-on-year in 2017 instead. (https://www.statista.com/statistics/264810/number-of-monthly-active-facebook-users-worldwide)
In 2017, 67% of the US population over 12 used Facebook. That number dropped to 62% in 2018 and 61% in 2019. (https://www.cnet.com/tech/tech-industry/facebook-lost-15-million-us-users-in-the-past-two-years-report-says). According to Edison Research data published Wednesday, Facebook has an estimated 15 million fewer US users in the year 2020 than it did in 2017. By the end of 2020, Facebook's monthly active user base had grown to 2.8 billion.
(https://www.statista.com/chart/10047/facebooks-monthly-active-users). Here are some reliable statistical data about Facebook's users to prove that Facebook Keeps On Growing.
Year | Number of Facebook users (Source: Meta) | Annual change |
2012 | 1.06 billion | +24.97% |
2013 | 1.23 billion | +16.29% |
2014 | 1.39 billion | +13.44% |
2015 | 1.59 billion | +14.21% |
2016 | 1.86 billion | +16.91% |
2017 | 2.13 billion | +14.46% |
2018 | 2.32 billion | +8.97% |
2019 | 2.50 billion | +7.67% |
2020 | 2.80 billion | +11.97% |
2021 | 2.91 billion | +4.11% |
2022 | 2.96 billion | +1.75% |
2023 | 3.07 billion | +3.44% |
As we observe the shifts in the social media landscape, it's clear that technologies, including Facebook, have their seasons of popularity. While Facebook may be less popular with teenagers than other platforms like Snapchat, Instagram, Twitch, Discord, and TikTok, it remains a significant force in the digital world.
Despite the cost of maintaining a Facebook account without active use, it's important to remember that Facebook is not going down without a fight. If it can innovate to meet the needs of its users, especially the younger demographic, it has the potential to remain a significant force well beyond 2024.
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