Facebook is on the move, and its latest numbers are turning heads. With over 40 million young adults in the U.S. and Canada logging in daily, it marks the highest engagement seen in three years. This surge follows a string of healthy growth in young adult usage over the past five quarters.
Celebrating its 20th anniversary not long ago, Facebook isn’t resting. Tom Alison, Head of Facebook, has unveiled some exciting updates and stats, shedding light on how the platform is reshaping social media for the next generation.
- AI Expansion: Facebook is ramping up its AI capabilities, introducing upgraded recommendation technologies to deliver personalized content more effectively. Inspired by the GPT architecture for Generative AI, this new model is powering recommendations, with 30% of content in the Feed now driven by Facebook’s recommendation system, doubling over the past two years.
- Video Enhancements: Video reigns supreme on Facebook, commanding over 60% of the platform’s usage time. With an updated full-screen video player for all video types, including Reels, longer videos, and Live content, it’s now easier than ever to discover, share, and connect around videos of interest. Notably, Facebook Reels Watch Time in the U.S. and Canada surged over 80% from Q1’23 to Q1’24.
- Creator Monetization: Facebook is democratizing content creation, making it simpler for anyone to become a creator and earn money. By evolving the payout model and expanding monetization opportunities, creators can now earn from all content formats, from Reels to photos to text posts. Professional Mode, a tool that transforms a Facebook profile into a public presence with creator-centric features, boasts over 100 million daily active users in just 18 months since its launch.
Additionally, Facebook shared some intriguing stats:
- Over 1.8 billion users engage in Facebook Groups monthly, highlighting the platform’s role as a hub for community interaction.
- Marketplace, Facebook’s peer-to-peer commerce platform, sees one in four young adult daily active users in the U.S. and Canada tapping into its offerings.
- Facebook Dating is gaining traction, with 64% of matches sparking conversations. Young adults are flocking to Dating, driving a 20% year-over-year increase in daily usage.
Facebook’s strategic revamp is evidently paying off, with increased engagement across various fronts. As the social media landscape evolves, Facebook remains at the forefront, continuously innovating to meet the needs of its diverse user base.
