Is Facebook becoming less important in the contemporary digital landscape?

It’s been 20 years since Facebook was introduced to the world. The social media platform was the biggest thing in the early 2000s because it helped people connect easily with lost friends or stay in touch with their families. Facebook brought people together, but as other social media platforms like Instagram, WhatsApp, Twitter, and Snapchat arose, Facebook had to share its user base.

Facebook is known to remain dynamic but how relevant is it today?

The facts

Originally launched under the name ‘TheFacebook’ the software service was created by Mark Zuckerberg to connect people around Harvard University. Students who registered for the social service network after it was launched in February 2004 were able to upload photos of themselves and personal facts about their lives.

With a market capitalization of one trillion dollars and over three billion active users, Meta Platforms Inc. is a mega-corporation today.

Facebook’s customization of content based on users’ location and preferences may lead to varying experiences for individuals across different countries. This means that users in other nations may encounter different advertisements or news articles depending on their specific location and preferences.

Facebook’s exact appearance and feel can differ from country to country, but its core functions and functioning stay mostly the same. The use of the website is, however, banned in North Korea, China, Myanmar, Iran, Uganda, Russia, and Turkmenistan.

Facebook has seen its share of ups and downs, despite the fact that it has benefited politicians, advertisers, start-ups, and regular users alike.

The arguments

One strong characteristic about Facebook is that it continues to evolve with time and new technology tools. Mark Zuckerberg’s aspiration is that the social service network will be strategically positioned as a leader in AR and VR which tech experts believe will soon replace traditional screens and interfaces. Already Facebook has invested heavily in that technology and even released its own VR headset, the Oculus Quest.

Even though Facebook has been the go-to social media platform, there has been a noticeable decrease in Facebook user engagement and active usage, according to recent data. This has been caused by factors like emergence of alternative platforms, data breaches, algorithmic changes, privacy concerns to mention a few.

Controversy Stings

Facebook has been making headlines from one controversy to the other for some years now. A recent incident was when the US senators summoned five prominent tech CEOs, including Mark Zuckerberg of Meta to scrutinize a range of risks for children and teenagers.

Despite rising above hullabaloos, observers have predicted that setbacks are not inevitable for Facebook in the coming years. Some of the potential issues include privacy breaches and data leaks, political bias and censorship, monopoly and antitrust concerns, cyberbullying and harassment, misinformation and propaganda, as well as addiction and mental health concerns.

Investors are likely to move away because of these negative public images. It is safe to say Facebook is doing everything possible to resolve these controversies by campaigning more on the responsible use of the platform.

Whether their rebranding attempts will pay out in the long run is something that only time will tell.

Deepfakes and Political Divisiveness

Facebook has come under fire for enabling the spread of false information and fostering political divisiveness. Some users have quite the site due to the proliferation of fake news and divisive content in order to prevent the detrimental effects on their mental health and the conversation in society.

Alternative Social Platforms

Users may choose Twitter, Reddit, and LinkedIn over Facebook because of their distinctive features and communities, which may better suit their personal or professional interests. Young people between the ages of 20-24 are leaving Facebook and exploring other social media platforms like TikTok, Instagram, and Snapchat. Young people claim that these platforms draw them in with their more visually appealing material, sense of immediacy, and distinctive features.

On the other hand, although slightly declined about 68% U.S. adults, in their early to late 30s, still use Facebook. It’s reported that no other platform, with the exception of YouTube, used by 83% of adults, comes close to Facebook.

Information Overload

Facebook users may experience “information overload,” as a result of the platform’s massive amount of content. Finding relevant and useful content amidst the deluge of messages, adverts, and notifications may prove to be difficult for users. Users are now searching for platforms with more curated and niche-specific material because of the assumption that the platform’s content quality has decreased as a result.

According to Meta, it has taken the required actions to resolve privacy and data security concerns. Facebook states that the actions will include giving users more control over their data, enhancing user openness on the collection and use of user data, and deploying end-to-end encryption on its messaging services. Many users, meanwhile, continue to have doubts about Facebook’s dedication to privacy.

Critics have recommended that by adjusting to users’ shifting choices and resolving their issues, Facebook may be able to reverse the downward trend. This could entail enhancing data security and privacy, halting the dissemination of false information, and developing cutting-edge features that can compete with those of other platforms.

Furthermore, Facebook’s market position may be strengthened by its acquisition and integration of popular platforms like Instagram and WhatsApp.

Facebook’s usage across the world

Among the 10 countries with the most Facebook users, India leads with an astounding 448,100,000 people. The US, with 258,400,000 users, and Indonesia, with 188,000,000 users, are right behind.

Out of the over 3 billion users daily, users in Africa are about 271 million. The figure is expected to rise to 377 million by 2025. The concentration of users on Facebook in some African countries has had some positive outcomes in terms of facilitating free speech and civic education.