Daily average users on the blue app have grown steadily over the years, going from 1.13 billion in the second quarter of the fiscal year 2016 to 1.96 billion in its latest quarter . and owns Facebook, WhatsApp, and Instagram.
The belief is that Facebook is no longer drawing in the crowds as there are rival platforms such as Tik Tok that are capturing more eyeballs.Fortunately for the social media giant, its DAU subsequently recovered to 1.96 billion in 1Q2022.CEO Mark Zuckerberg is well aware of the competition and is taking steps to steer the company in a different direction.
In its latest earnings announcement, it revealed that video takes up half the time that people spend on Facebook while Reels makes up more than 20% of the time people spend on Instagram.
Source: News Formal (newsformal.com)
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