Is Facebook still as dominant as it used to be?

Since the inception of the Internet, there have been many advances in the use of the Internet. Facebook is undoubtedly one of the pioneers of social media communication. Many people all over the world use Facebook or at least have heard what this social media is about. So, how popular is Facebook? Well, this and other pertinent questions form the basis of discussion here.

How popular is Facebook?

The popularity of Facebook has never been put to question as it is one of the most popular social media platforms in the world. It is a global social media that has its presence on all the continents.

How many users does Facebook have?

In 2012, Facebook made history becoming the first social media network to surpass the one billion mark of active users. Since then, the social network giant has cumulatively gained popularity and increased the number of active users to 2.7 billion.

As of 2020, Facebook remains the biggest social media network worldwide. Out of the 2.7 billion users, about 1.6 users visit the website daily, thus making it an extremely popular website.

Which companies are competing with Facebook?

Since Facebook’s inception in 2004, many social media platforms have emerged to try and topple Facebook out of its dominance. Well, while there hasn’t been a single company that has managed to get to the top, here are some of the top companies that have been keeping Facebook in check, commanding huge followings:

Instagram

Instagram is Facebook’s biggest competitor. However, it is odd to say this as Facebook bought this photo-sharing company in 2012, just two years after it was created by Kevin Systrom and Mike Krieger. However, Facebook and Instagram are still battling for users with Instagram having reached a billion mark. With over 1 billion users on Instagram, it is the biggest competitor of Facebook.

Twitter

Twitter was founded in 2006, two years after Facebook. This social media platform has since gained popularity and threatens Facebook’s dominance in social media. However, Twitter and Facebook have different business models. As of the first quarter of 2020, Twitter had 330 million users with about 150 million active daily users.  

Snapchat

This is a multimedia messaging app that controls a worldwide following of over 249 million users. Snapchat was founded in 2011 and has since been gaining popularity rapidly amongst the youthful generation, thus, making it a competing company with Facebook.

LinkedIn

LinkedIn was launched in 2002, even before Facebook. It has over 750 million users globally. This social media platform poses competition to Facebook as it taps into the professional network. It is the largest professional network for people seeking jobs. In as much as it doesn’t operate in the same model like Facebook, it threatens Facebook’s total dominance of social media.

Of course, many other companies are competing with Facebook for online social media users but the above-mentioned are the top competitors. Other competing companies include Pinterest and China’s WeChat.

Advantages and Disadvantages of Facebook

Facebook has many benefits for both individual and business users. However, there are also a few drawbacks associated with the use of this social media site.

What are the benefits of Facebook to individuals?

  • Create connections

One of the top benefits of using Facebook is that it allows people to create connections. With a large user base, many people are finding it easy to connect with their friends and families who are not close to them physically. Many people have testified how they found their friends on Facebook.

It is also a nice place to seek and find love, though one ought to be careful as this might be catastrophic if caution isn’t taken.

  • Easy to use

Another reason why Facebook is popular is that it is easy to use. You do not need advanced technology skills to access and use Facebook. This is why this social media platform is popular among people of different age groups.

  • Updated news

Another advantage of Facebook is that it offers updated news and events. This means that users of this social media stay updated on all the world’s happenings.

  • Amazing interactive features

Facebook has a wide range of exciting features that are useful to individuals using this website. Some of the top features include live video chats, group chats, hosting videos, etc.

Advantages of Facebook to business

  • Wide reach

If you are using it for business, you get the advantage of reaching more potential customers. This is because Facebook commands a huge following from all over the world.

  • Affordable

It is also cheap to run marketing campaigns on Facebook and yield a great return on investment. There is also the option of using an individual account that is free to advertise products.

Disadvantages of Facebook

Some of the drawbacks of Facebook are:

  • Privacy concerns: one of the top concerns about Facebook is privacy. Even though privacy settings have been simplified, many people still publish private images publicly unknowingly.
  • Fake profiles: there are lots of fake Facebook profiles. This has been responsible for many scam activities.
  • Addictive: just like any other social media platform, Facebook is very addictive and can consume much of your productive time.

What is the future of Facebook?

Depending on how you are looking at it, there are various scenarios that paint the future of Facebook. The stiff competition and regulations are key to defining Facebook’s future. Here are some probable scenarios:

  • More regulations, less popularity

Many countries are enacting legislation governing the use of social media. This could have an effect on Facebook if these regulations are not favoring them. For example, some countries such as Australia wants Facebook to start paying media organizations money for hosting journalism activities on social media.

Such a move could lead to a temporary breakup, which could also reduce Facebook’s popularity. It could also lead to a decline in revenue collection, which will affect business operation.

  • Integrating social media networks

 Facebook is already talking about merging all its social media networks. This will make Facebook even stronger and give it more control of the market. However, if not well-planned, it could lead to its downfall if other competing social media networks take advantage of the void created by the merger.

Conclusion

Facebook’s dominance is not under immediate threat. Therefore, it will continue to dominate the social media network.

[The original article was written in English. To other languages it was automatically translated by Google Translate]

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