Over 55s flock to Facebook as teenagers leave in droves for Snapchat

Is Facebook for old people? Over-55s flock in as the young leave

The number of British social media users aged between 12 and 24 who are regularly logging in to Facebook will fall by 700,000 to 6.7 million this year, leaving the company with just 71% of the market share, according to EMarkerter research. The recent Snapchat redesign aims to make it easier to use by all people, but it remains to be seen whether young users will still prefer Snapchat if older people join the platform too.

This latest forecast indicates that it's more than a theory", " said emarketer senior analyst Bill Fisher.

Facebook's problem is due to SNapchat, which has doubled its take-up rate among social site users to 43%. According to a new report, Facebook will keep losing youngsters while Instagram and Snapchat will gain more users aged 24 and under. However, leading the charge for younger audiences is Snapchat.

The report is the latest to highlight Facebook's problem with attracting and keeping young people, who have always been a core user base for the world's biggest social network.

"And whereas it's been able to rely on platform shifters being hoovered up by Instagram, there are now some early signs that younger social networkers are being swayed by Snapchat".

While Facebook may lose out on the number of new, younger users, growth among those over the age of 55 is expected to prop up its user growth figures.

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Facebook remains the most popular social network in the United States market with an estimated 169.5 million users this year, according to eMarketer.

"There are a couple of factors at play here", says Richard Broughton, analyst at Ampere.

Facebook shares closed higher Friday.

Zuckerberg has pledged to spend this year "making sure that time spent on Facebook is time well spent".

Zuckerberg said 2017 proved a "hard one" for the company, which faced issues including its role in disseminating fake news and concerns it was used as a platform for Russian meddling in the USA elections. Snapchat is expected to add 1.9 million users in this age group of 24 and younger.

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