There have been concerns that Meta’s (NASDAQ: FB) Facebook’s growth will slow as its monthly active users reach almost 3.1 billion worldwide. People have questioned whether its membership has hit a point of saturation. This is part of Meta’s comeback.
Facebook announced that its growth is not over. A note to investors said, “With five quarters of healthy growth in young adult app usage in the US and Canada, over 40 million US/CA young adults are daily active users, and this number is the highest in three years.”
The increase was due to transitioning from high school to college and from college to first jobs. These job seekers, in particular, have also used Facebook to find employment. The group has also used Facebook Marketplace to find furniture.
Facebook believes it can add other features to draw more young people. These include new AI features to offer more targeted information to members. “Over the next year or so, this advanced recommendations technology will power more products, including our entire video ecosystem, and our Feed recommendations,” Meta stated.
Improved video products are another reason Facebook members will likely be more engaged. “We made it easier to explore and connect over videos you’re interested in, regardless if they’re a Reel, longer video, or Live content,” management added.
A final question investors in Facebook and other social media companies have asked is how many hours people spend on social media daily. If Facebook takes up more of these hours, public corporations like Snap (NYSE: SNAP) and Pinterest (NYSE: PINS) must be concerned.
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
