In its July-September 2021 quarterly earnings conference, Meta’s cofounder Mark Zuckerberg seemed a little worried. He was vocal about it, too. He wants to see a shift. A shift that would take years.
“We are retooling our teams to make serving young adults their North Star rather than optimising for the larger number of older people,” Zuckerberg said.
Meta’s social media firm Facebook is losing its popularity among teens and young adult users across its key markets, according to numerous studies.
They are jumping to other social media platforms. This slow departure of young users, increasing data privacy concerns and rising cost per impression threaten Facebook’s advertising business, as it could lose its grip on social media ad spend. Business Insider India spoke to content creators and young internet users born between 1997 and 2012, who are also known as Generation Z, and social media experts, who believe Facebook has lost its fame to the perception war and might not see a revival.
To pique the young audience’s interest again, Facebook has replicated various social media formats that have worked for other platforms. It is almost like Joey from popular sitcom Friends believing that he can pass for 19 by simply replicating what young people wear.