Even after having concerns about Mark Zuckerberg’s Facebook going down, the social media network has shown a fantastic turnover in the last few years. As suggested by many studies, a huge audience departed from the app due to privacy concerns, making the social media network’s survival skeptical.
In 2010 when Facebook was rolled out in India, the app became an all-time favorite for most young adults. Many reports suggested that Facebook, which used to be a go-to app for everyone, witnessed a mass departure.
The young adults started to prefer other social media platforms like picture-sharing app Instagram and Twitter (now X) for raising concerns and being vocal. At earlier times, there used to Facebook for all such activities.
About The Major Shift
The gradual departure from the social media app has threatened the Facebook business in India. Those born between 1997 and 2012, also known as Generation Z and whom we are calling young adults here were Facebook audience.
The major shift of this section from Facebook raised speculation that the app would lose its popularity and would reach to a point where revival might seem next to impossible as applications became a favorite to its audience.
Coming on to that, Zuckerberg, who had realised the threat, made its intentions clear to make attempts to bring back its users. During those years, Meta made many changes or it would be safe to say, it duplicated many features from other applications.
“We are retooling our teams to make serving young adults their North Star rather than optimising for the larger number of older people,” said Zuckerberg in 2021.
Facebook’s revenue recorded a declining trend by ending up at current turnover is 116.6 billion USD in 2022. Prior to that, in 2021, the social media network was at 117.92 billion USD.
Meanwhile, Meta’s Indian arm, Facebook India, generated revenue of over 23 billion Indian rupees in fiscal 2022, up 47% over the previous year. Advertising revenue alone increased 74% according to regulatory filings, reported by business portals.