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Facebook use eroding in US as social media under pressure
by Staff Writers
San Francisco (AFP) May 28, 2019

Facebook's efforts to crack down on misinformation and sensational content have reduced the time spent at the leading social network eroding, researchers said Tuesday.

The average amount of time US adults spent at Facebook dropped by three minutes per day last year and will likely decrease by another minute next year, to a total of 37 minutes daily, according to the research firm eMarketer.

The report suggests that Facebook chief Mark Zuckerberg's efforts to focus on safety and remove divisive and hateful content could be having an economic impact.

"Facebook's continued loss of younger adult users, along with its focus on down-ranking clickbait posts and videos in favor of those that create 'time well spent,' resulted in less daily time spent on the platform in 2018 than we had previously expected," said eMarketer principal analyst Debra Aho Williamson.

"Less time spent on Facebook translates into fewer chances for marketers to reach the network's users."

Money taken in from digital ads are the leading source of revenue at Facebook, which has 2.4 billion monthly active users around the world.

A bright spot for Facebook is that daily US engagement is creeping up at its image and video focused social network Instagram, where eMarketer expected it to rise a minute this year to 27 minutes and then another minute per year through 2021.

"Features like Stories, influencer content and video are all contributing to more engagement and a slow but steady uptick in time spent on Instagram," Williamson said.

Meanwhile, time people in the US spend at Instagram rival Snapchat has seemingly plateaued at 26 minutes daily, with an application redesign failing to boost engagement, according to eMarketer.

A broader trend seen last year was for Americans to spend less time at online social networks, and the overall engagement was expected by eMarketer to remain unchanged this year at almost one hour, 14 minutes per day.

"Gains in digital video viewing are putting pressure on social time, and gaming is also creating new competition for user attention," Williamson said.

"Though we can't say there is a direct cause-effect relationship, these activities do at least threaten users' engagement with social media."


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Facebook plans cryptocurrency launch next year: BBC
London (AFP) May 24, 2019
Facebook has been in contact with US and British financial regulators with a view to launching its own cryptocurrency next year, the BBC reported on Friday. "GlobalCoin" would work with a new digital payments system in about a dozen countries, starting in the first quarter of 2020, the broadcaster said on its website. Previous reports have said Facebook is taking a serious look at blockchain technology under its "Project Libra", in part to tackle doubts about privacy among its many users follow ... read more

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