MENLO PARK (CBS SF) – Facebook will mark 10 years since its creation Tuesday, and despite an estimated 1.2 billion friends and $153 billion market cap there are plenty of folks eager to predict the end for Mark Zuckerberg’s little dorm room project.
A recent Princeton study predicts an 80 percent decline in user base by 2017, and numbers based on Facebook’s Social Advertising platform suggest that Facebook has lost millions of users in their teens and early 20’s over the past three years. But does that youth exodus portend Facebook becoming the new Friendster?
Facebook’s loss of teens was even the talk Monday’s Sarah & Vinnie show on Alice 97.3:
“I talked to the kids I take to yoga and they were just telling me how much they don’t use Facebook and how irrelevant it is, and it was at that moment I was like, ‘alright I gotta go to Instagram’ [which is owned by Facebook],” said on-air personality Hooman.
While the young users may be switching to Twitter or Snapchat, those internal numbers find even larger gains for Facebook among people 25 and older, including nearly 64 percent gain in college alumni on the site – a group that’s both attractive to advertisers and less likely to switch platforms than teens. Even in the tech-saturated Bay Area, the number of Facebook account holders has more than doubled in the last three years.
“You know who’s not going to get off there? Me and everyone I went to high school with. It’s for old people now,” said morning show host Sarah.