As Millennial Exodus Continue, One in Four Facebook Users Delete Facebook App
It appears that Americans’ relation-status with Facebook has shifted to, well, it’s complicated. Literally. Facebook is having a hard time with winning the hearts and minds of its users, as the company’s stock value lost 130 billion in capitalization in the third quarter of 2018. Moreover, following Wednesday’s Congressional testimony by Jack Dorsey, Twitter’s CEO, together with Facebook’s COO Sheryl Sandberg, Facebook stock sunk like a stone even further, as investors feared social media regulation by Congress.
Sandberg’s clumsy responses to Kamala Harris’ questions in regard to Facebook’s attempts to stifle “hate speech” on their platform only added to market’ distress. Then, a new study by the Pew Research Center revealed that 1 in 4 Facebook users have now deleted the official mobile-app from their smartphones. The study was published Wednesday.
What’s even worse is that 44 percent of the 18-29 year olds demographic say they’ve deleted the Facebook app from their smartphones. Only 12 percent of the older users did that, i.e. the decline is not as significant among “conservative” demographics. However, since young users are the real trend setters, they make for the most treasured demographic for social media companies like Facebook. This may be blow-back from the Cambridge-Analytica scandal, which has made Americans more suspicious and more likely to stir away from Facebook due to privacy concerns.
Almost 3 out of 4 Facebook users have taken (at least) one of these 3 actions in the last year. Conservatives and Republicans are more skeptical (and justifiably so) in regard to Facebook’s bias, yet hard data is revealing that both Republicans and Democrats were equally likely to have stopped their usage of the platform or to have deleted the mobile-app from their smartphones. Moreover, user engagement data shows a massive drop in engagement during the 1st quarter, which means people are spending less time on Facebook. Teens left Facebook a long time ago, migrating to Snapchat and Instagram (the latter is owned by Facebook by the way).