Facebook Inc (NASDAQ:FB) and other social media platforms have a new problem on their plates to deal with: Millennials are starting to delete their apps. A recent survey reveals that the younger crowd are beginning to become negative towards social media in general.
New York Post shares the survey’s fascinating findings.
More than half of users between the ages of 18 and 24 revealed they are “seeking relief from social media,” according to a survey.
The poll, taken in December, found that 34 percent of young users reported having deleted social-media accounts entirely. Forty-one percent of respondents said they waste too much time on social media, and 35 percent agreed that people their age are too distracted by their online lives.
Among the most popular apps on the chopping block for the younger generation are Facebook, Instagram, and Twitter. However, users in this age range appear less likely to part ways with Snapchat.
On the bright side, those who remain just as engaged with social media have little problem getting even more involved. According to the survey, 43 percent of respondents note they’ve made a purchase through a social media platform.
Facebook Inc shares were trading at $182.46 per share on Thursday morning, down $1.25 (-0.68%). Year-to-date, FB has gained 3.40%, versus a 2.37% rise in the benchmark S&P 500 index during the same period.