Snapchat is reportedly drawing youngsters away from Facebook way faster than Instagram, which is another company owned by Facebook. According to research firm eMarketer, Facebook is still growing in the US as people from older age groups are slowly adapting to it. The reports adds that Facebook is having problems in attracting and keeping in younger people, who have traditionally been the core users of the social media giant.
According to the research, it is expected that the first ever decline of 5.8 percent in the 18-24 age group in the US will begin this year. It added that first time since the research began, less than half of the 12-17 age group would be on Facebook. That means a drop of 5.6 percent in that category.
A decline of 9.3 percent will hit the under 12 groups this year.
The trend is expected to carry on in to 2019 and 2020, and in the US there will be a decline of users under 25 years. Facebook will likely lose about 2 million users who are under 25 by this year while Snapchat and Instagram will be the main winners.
eMarketer analyst Debra Aho Williamson said, "Snapchat could eventually experience more growth in older age groups, since it's redesigning its platform to be easier to use. The question will be whether younger users will still find Snapchat cool if more of their parents and grandparents are on it. That's the predicament Facebook is in."
Investment firm Piper Jaffray reported last year that Snapchat is the go to social network for US teenagers, with 47 percent using it.Read More