Facebook Is King!!

There has been a general perception over the past few years that millennials are abandoning Facebook in search of greener, less parent-friendly pastures like Snapchat and Instagram…Not. Even. Close…

A new comScore report released Wednesday highlights data on a whole range of Internet trends. Included in the report was this chart, which shows the percentage of 18- to 34-year-old Internet users who frequent each major social network each month. It also shows how much time those users spend with each service. Here’s the link to the chart.

http://recode.net/2016/03/30/are-young-people-leaving-facebook-not-even-close-chart/screen-shot-2016-03-30-at-9-12-44-am/#main#main

Can you find Facebook? It’s the dot wayyyyyy up there in the upper right hand corner, literally in a quadrant of its own. Turns out that while investors (and the media) panicked that Facebook would experience a mass exodus of young people, nearly every Internet-wielding millennial still uses Facebook on a regular basis.

Those same millennials spend more than 2.5 times as many minutes on Facebook as they do on its closest competitor — Snapchat. (Facebook-owned Instagram is a very close third.)

So Facebook still has young people. Lots of them. This might explain why its market cap is nearly $340 billion.