Are Young People Leaving Facebook? Not Even Close. (Chart)
There has been a general perception over the past few years that millennials are abandoning Facebook in search of greener, less parent-friendly pastures like Snapchat and Instagram.
Not. Even. Close.
A new comScore report released Wednesday highlights data on a whole range of Internet trends. Included in the report was this chart, which shows the percentage of 18- to 34-year-old Internet users who frequent each major social network each month. It also shows how much time those users spend with each service.
Can you find Facebook? It’s the dot wayyyyyy up there in the upper right hand corner, literally in a quadrant of its own. Turns out that while investors (and the media) panicked that Facebook would experience a mass exodus of young people, nearly every Internet-wielding millennial in America still uses Facebook on a regular basis.
Those same millennials spend more than 2.5 times as many minutes in Facebook as they do in its closest competitor — Snapchat. (Facebook-owned Instagram is a very close third.)
So Facebook still has young people. Lots of them. This might explain why its market cap is nearly $340 billion.
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