When was the last time you opened Instagram Reels?
Or a better question, when was the last time you opted for Reels over Tiktok or YouTube?
Surely, like many people in the mainstream, you would have probably opened your Tiktok account to consume your daily intake of randomness. To Facebook, its attempt to regain almost 30 million users is also hampered by the dominance of these two social media giants.
But that is just one of the many reasons why Meta's earnings dipped a little deeper by 26% on the first week of February.
Apple announced another layer of security for its user. A pop-up notification appears whenever an app “wants to track your data” for advertisement. For Facebook, which capitalizes on the care-free nature of tapping the “agree” button users, this was detrimental.
This $230 Billion loss was the company’s lowest for the longest time. Although there were dips back then, with the dominance of other platforms it may still be hard for Meta, its new company name, to recover.
Meta has, for years, engaged with stagnant but steady approaches. It's only now that we see Meta take on a high-risk high-reward approach with its recent rebranding. The attempt seems to make the company look like other tech giants like Apple when it announces a new phone by September or for when Elon Musk decides to release whatever niche technology comes to mind.
But through time, Facebook, the app, has lost its stronghold for being the top social media site in terms of retention. Influencers mainly drive people into an app, and Facebook has a clear lack of such actors, to begin with.
It has not been famous for most influencers, since they mostly flock to YouTube and Tiktok to get more clout.
Data concerns had been raised as well for the past few years. From Mark Zuckerberg summoned to the United States Congress for an investigation on privacy concerns to the bombshell whistleblowing from France Haugen, Apple’s move to take a higher step towards securing its users only solidified these concerns for some.
While we shift towards one platform to another, one can only wonder if this is the end for Meta– had they bled their magic out completely?
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Written by: Jantzen Eros
Layout and Design by: Dan Kurt Buenaventura
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