Facebook reached 3.068 billion monthly active users in late 2024, but young adults are spending only 22 minutes a day on the platform, indicating a shift towards other social media. Innovations like the 'Like' button and Facebook Live have contributed to user engagement, while video content remains dominant. The acquisition of Instagram has proven successful; its Reels feature now comprises 35% of total usage in 2024 and effectively competes with TikTok, capturing a significant advertising audience. Zuckerberg insists on continuous innovation as key to maintaining user interest.
Instagram Reels dominate screen time, making up 35% of total Instagram usage in 2024, reaching 726.8 million users and covering 55.1% of the platform's ad audience.
Meta CEO Mark Zuckerberg has emphasized the need for constant innovation and the creation of new applications to compete in the rapidly changing social media landscape.
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