The Social Media Giant Grows at Record Pace
The user experience of Facebook couldn’t be more far removed from the world of Google and the Web. It’s a place for chatting and sharing material which has no other purpose than to make others smile, laugh, share their recipes, family pics, celebrations, selfies, and animated pet tricks. And it’s growing!
Incredibly, Facebook now has 2 Billion users, double what is had 5 years ago. That’s 2,000 million or about 30% of the people on earth. If you wondered if FB had lost its lustre and steam, well put that idea to rest, because usage is strong.
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It’s resulted in Facebook sharing world domination with Google in terms of advertising revenue. eMarketer says Google may earn $73 billion in ad revenues in 2017, while Facebook will make $34 billion. They control half of the world’s digital ad spend. It seems if you can’t advertise with one of them, you have few options left.
According to CNBC “advertisers’ spend on digital formats globally will increase by 17.4 % to $583.91 billion, equivalent to 38.3 % of their entire ad budgets. That means less is available for more cost effective channels such as SEO and Content Strategy.
And users spend a good deal of time on it (about 50 minutes a day). As this pic below shows, FB is up against Youtube for marketshare, yet Youtube engagement is a little suspect (commenting with strangers). Facebook may not be the most sociable place in terms of finding and meeting new friends. If FB solved that challenge, growth would surge again.
Image Courtesy of TechCrunch
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