Facebook sees a decline of a million users
Facebook is one of few social media sites that boast over 1 billion daily users. The company has been dominating the social media market despite the competition that arose over the years. Year over year, it’s seen a consistent increase in daily users, but that trend ended just recently. Last quarter, the company reported an average of about 1.929 billion daily users. That’s down roughly a million users from the previous quarter’s 1.93 billion daily users. That doesn’t seem like it’s a huge loss in the grand scheme of things, but no downturn is a good thing.
The company also saw a dip in ad revenue
Facebook makes money from several sources (some shadier than others), and one of those sources is selling ad space. People can pay a fee to Facebook to slap their posts onto peoples’ feeds. That’s a lucrative venture, as the company made 10s of billions of dollars from selling ads last year. However, along with losing users, the company didn’t reach its ad sales goal last quarter. This decline in ad revenue and users ultimately lead to a drop in the site’s stock market value. This little loss caused the company’s stocks to lose about 20% of their value. That totals about $200 billion. There are a lot of people who aren’t exactly sympathizing with Facebook right because this company seems to be leaking data like a broken tap. Regardless, what affects Facebook will also affect apps like Instagram and Whatsapp.
In Other Meta-News: Meta adds new 3D avatars to Instagram
Instagram got a neat new update recently that adds 3D animated avatars that can be used for stories. These will use your camera to create a 3D representation of you in the app. Not only that, but the app will track your body’s motion so you can act out any motion you want. This feature will also be available to use with direct messages. If you don’t see the feature in your app, make sure you’re on the latest version of the app.
