Meta Still Matters
What is going on:
'Advertisers are fleeing to TikTok, Facebook is doomed, and the internet and all advertising will be run by sentient AI in about 2 minutes...'
Not so fast there amigo.
In fact, at the end of 2022 Meta revealed that a staggering 2 billion people log in every single day.
That means that nearly 40% of all global internet users are on Facebook daily. The figures become even more mind-boggling when you take into account Meta's full "family of apps" (WhatsApp, Messenger and Instagram). Combined, these reported 2.96 billion daily active users, meaning not far off 60% of all internet users log into a Meta product daily.
At its most fundamental level Facebook connects people. It is that connection that is still meaningful enough for a lot of people to continue to use its services.
What it means:
Even though the founder’s focus has shifted to the Metaverse, the heart of the tech giant is still beating as strongly as ever. As the company prepares to enter its third decade and begins it focus on a year of efficiency.
Brands considering testing and exploring new and competing platforms (TikTok) need to be confident that the up side is there. And that testing isn't just testing for testing's sake...
In a year where brands are focussing on staying lean and improving efficiency, it is a tricky time to invest in the un-proven.