Mon, Oct

Facebook Slowly Losing Grip As 'Top 10' App In US

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Facebook this year has been struggling to maintain its position as a "Top 10" app this year as BeReal, and TikTok continues to gain popularity. This is as younger consumers shift to newer social networking experiences like TikTok and now BeReal, the tech giant's big blue app has lost traction in the App Store's Top Charts. TechCrunch reports that Facebook has dropped out of the Top 10 free iPhone apps in the U.S. 97 times this year, according to an analysis of iPhone App store data by Sensor Tower. For instance, last year, Facebook only fell out of the Top 10 free iPhone apps in the U.S. seven times. However, in 2022, that figure has already climbed to 97, an indication that Facebook may be losing ground as new apps push their way into the App Store's top rankings.

A failure to inspire a new generation of users is something the company is concerned about and a topic Meta CEO Mark Zuckerberg has spoken candidly about in the past.

Last October, Bloomberg reported Facebook had been compiling internal reports showing the "time spent" metric for U.S. teenagers on Facebook was down 16% year over year as of March 2021. Young adults in the U.S. were spending 5% less time on Facebook, the data showed, and the number of new teen signups was declining too.

In February 2022, the company reported to investors that Facebook had lost daily active users for the first time in its history and its monthly active users remained flat. While the daily active users grew slightly in subsequent quarters, the platform lost more monthly actives after a ban in Russia, a signal that a single market loss could diminish Facebook's growth.

According to a recent report, Generation Z users have become weary of constant pivots by apps, such as Instagram and Facebook. This had eroded younger users' trust, leading them to turn to apps like TikTok.