The number of daily active users (DAUS) of social media giant Facebook has dropped for the first time in its 18-year history.
This information has been revealed in the report published by BBC.
According to Meta Networks, the parent company of Facebook, the number of daily active users dropped to 1.929 billion in the first three months of the year ending December. Which was 1.930 billion in the previous quarter.
The company has warned that the growth of meter revenue will slow down due to competition with competitors like TickTock and YouTube. At the same time, the amount of advertisement has also decreased.
Meanwhile, Meter’s share price fell 20 percent in US pre-market trade on Thursday (January 3). This reduced the company’s stock market value by about ২০০ 200 billion.
Shares of other social media platforms, including Twitter, Snapchat and Pinterest, have also plummeted.
Meta CEO Mark Zuckerberg said that the growth of Meta has been hampered by platform users, especially young users, leaning towards other competing platforms.
Meta, which owns the world’s second-largest digital advertising platform after Google, added that changes in privacy in Apple’s operating system have affected Meta.
Dave Wehner, Metar’s chief financial officer, said changes in privacy in Apple’s operating system have made it harder for different brands to determine and measure the audience for ads on Facebook and Instagram