Facebook has had a strong hold in almost every demographic since it’s rise in revenue in 2008, four years after its creation by Mark Zuckerberg; recently there has been a loosening of that grip thanks to Snapchat. Snapchat, like Facebook, took about four years to gain revenue after its founding in 2012 by Spiegel and Murphy. So as of today Snapchat has grown immensely, especially among the younger demographic. Snapchat has an estimated 200 million users and 100 million daily active users. That is a large amount of growth in just 4 years!
According to the Pew Research Center, 41% of 13-34 year olds use Snapchat as their main social media and 71% use Facebook. The 41% may not be that strong of a number, but give Snapchat a few more years and Facebook will need to start devising a strong plan to capture their younger demographic back from the claws of Snapchat. Also, Facebook has recently been gaining mostly an older demographic to their site, which is a huge turnoff to the younger generation because they do not want their parents to be monitoring them on Facebook.
Another reason the younger demographic has been leaving Facebook and has been shifting to Snapchat is because Snapchat concentrates heavily on ephemeral videos and pictures, which Facebook has tried to challenge but has failed multiple times. Back in December of 2012, Facebook challenged Snapchat by creating a clone app called Poke. Many people had heavy opinions that Poke would crush Snapchat, but the app never took off so Facebook had to slowly let the app die out and recently removed the app from the app store. Another app that Facebook tried to use to challenge Snapchat was Slingshot, a nicer looking version of Snapchat created by Joey Flynn. Some say that Slingshot was a desperate move by Facebook. Slingshot’s numbers compared to Snapchat were tiny so Facebook, again, swiveled away from another app. Today, Facebook is challenging Snapchat by putting ephemeral videos and pictures into their popular Messenger app. They are currently testing the effects in France. Only time will tell if this move by Facebook will have enough spunk to truly challenge Snapchat.
Snapchat seems to be the future for the younger generations and Facebook may just have to accept that it is turning into a site for an older crowd. To give Facebook some credit, the younger generation needs to remember that without Facebook the platform for Snapchat and other types of quick and easy social media would not have been created!