Social networks is a fairly complicated market today, given that now Facebook has lost part of its audience, which have gone to other platforms such as TikTok. And now the company Goal (which includes FB, WhatsApp and Instagram) reports a large annual drop in income, the first to happen after changing the name as a company.
The company has reported $28.022 million in revenue, and although this sounds like a lot of money, they are down $1 billion compared to what was purchased last time. This may be due to the fact that some users prefer to use other competing sites, as the interface menus gradually become more complicated to use.
Among the major factors that they also use as justification is the constant inflation that seems to have no brake, also the war of Russia against Ukraine, since the site has been deactivated in one of these countries. To this can be added that Manzana has made using ads in apps a difficult task to tackle.
Given this, they have seen reels as the solution of their problems, thus being a direct competition against their biggest rival, TikTokthis has been noticed in the new implementations that are added to Instagram. Despite the circumstances, mark zuckerberg remains positive, hinting that the metaverse may stabilize.
Via: TheVerge