Recent data has been released on user engagement on Facebook Inc (NASDAQ:FB), and troubling signs are emerging for the social media giant. While folks are still signing in to see what’s going on, they’re spending a lot less time on Facebook once they get there.
Fast Company has the details on the recent Facebook trend that looks to be growing larger by the month.
It was less than a month ago that I wrote about a trend that should be very worrying for Facebook. Namely, that users were spending less time on the platform. According to Nielsen numbers through November of last year, interpreted by Pivotal, the social network lost about 4% in aggregated time spent.
Now new numbers have been released that go through December, and the problem only seems to be getting worse. The updated data shows that Facebook’s core platform lost 18% in time spent, which is a huge change from the month before. This, says Pivotal, reflects a 24% decline in time spent per person.” Instagram, too, saw some poor engagement numbers. Though aggregated consumption went up, the user base went up at a higher clip, meaning that time per person went down 9%.
To be clear, other social media platforms would kill for Facebook’s number of users. That said, it’s a concerning sign for the tech behemoth that folks seem to be getting burned out on the platform in comparison to their past engagement.
Co-founder and CEO Mark Zuckerberg recently advised shareholders that changes in user engagement numbers were coming, and some observers have pointed to tweaks in the algorithm as possible reasons why folks are signing out faster than before.
Facebook Inc shares were trading at $182.28 per share on Thursday afternoon, down $1.43 (-0.78%). Year-to-date, FB has gained 3.30%, versus a 2.61% rise in the benchmark S&P 500 index during the same period.