February 14, 2024

Facebook Turns 20: Users Still Growing

Facebook Turns 20: Users Still Growing

This week Facebook will celebrate its 20th birthday. For those old enough to remember the first year it emerged, you can’t help but feel, well, old.

Yet despite Facebook’s age (and yours), and constant talk of its demise, the platform is definitely not in decline. In fact, quite the opposite.  

According to Statista, Facebook surpassed 3.07 billion monthly active users in 2023, marking a 3% increase from the previous year. It’s an incredible milestone, particularly in light of increasing competition from YouTube and TikTok.

Facebook Turns 20: User Growth Still Growing

What’s even more amazing is that over 2 billion are daily active users. That’s a quarter of the world’s total population who log in to Facebook every single day.

Facebook’s ongoing appeal is partly thanks to its new AI content recommendations, which have significantly increased usage. This has helped firmly establish its position as a source of entertainment and its traditional role of connecting ‘friends’ and sharing life updates.

The platform has also continued to innovate and invest in new features over the past few years, including the introduction of Stories, Reels and broadcast channels.

Facebook’s parent, Meta, reported that revenue soared to a record $40.1 billion in the fourth quarter of 2023 – a 25% increase from the same period the year before – with a whopping 96% derived from advertising. 

Profits also surged to $14 billion. This may go some way to explaining the huge rise in its share price from a low of $98 in November 2022 to over $460 in February 2024.

CEO Mark Zuckerberg attributes this success to operational efficiencies implemented in 2023, highlighting the advantages of a leaner, more agile company.

For marketers, Facebook's massive and engaged audience offers an amazing way to promote your product, service or message to diverse consumer segments. 

Regardless of who your customers are, they can be found actively engaging on Facebook, so it’s essential for your brand to have a presence there.

To reach its 3 Billion users, all you need is an internet-connected device, the right Facebook marketing strategy and knowledge to create winning Facebook ads via the Meta Ad Platform.

Jonathon Tanner

Jonathon Tanner

Co-CEO and Co-Founder

Co-CEO and Co-Founder of SMC, earned Social Media Educator of the Year from SMMI. With vast experience in social media strategy and content marketing, he's also a co-founder of other businesses. Specialising in growth strategy, Jon has a background in management consulting specialising in M&A.

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