It hasn't been a great year for Facebook. But things appear to be getting worse for the company and could be even more so by the end of 2018.
At this point, it would be silly to think that Mark Zuckerberg could be in huge trouble or edging towards bankruptcy, but things could probably be a lot better, especially where his competitors is concerned.
According to eMarketer (H/T The Guardian), Snapchat has eclipsed Facebook in the United Kingdom among the younger crowd.
Snapchat had already won over more young teenagers than Facebook last year, but it is also increasing in popularity among persons aged 18-24 and is projected to become the choicest of social media platforms for the aforementioned by the turn of the year.
The above source has revealed that Snapchat is poised to add more than 350,000 users to take their membership to just under 5 Million, something which will put it atop Facebook in the UK for the first time.
The latter's user base is projected to drop down to 4.5 million, which would mean a loss of 500,000 members in the last two years. And, according to analysts, there are many young people in the UK - referred to as Facebook-nevers - who have actually never been on the site.
“These so-called Facebook-nevers are eating into Facebook’s user growth significantly,” Bill Fisher, a senior analyst at eMarketer, explained. “Many younger social network users are forgoing Facebook altogether in favour of more appealing mobile-first alternatives, such as Snapchat.
“Facebook is still adding monthly users overall, but older age groups are mainly responsible for this."
Last year, Snapchat usurped Facebook as the most popular social media app for kids aged 12-17, but older teens and people in the younger 20s are now gravitating to the platform, having been lured in by the disappearing messages and cool filters, among several other nifty features.
Per eMarket's report, Facebook's fastest-growing new users in the UK are aged 55 and older, with many of them setting up accounts to keep up with their kids' and grandkids' social lives.
To be fair, though, both apps offer great features for everyone, both young and old. Yet Zuckerberg's company is 14 years old and the kids of today likely consider it too old-school.