Age Has A Significant Role To Play In The Way You Use Social Networks

Facebook Inc (NASDAQ:FB) might be losing its touch with the millennials, but that does not mean they are shunning social networks altogether, according to a new study by analytics firm ComScore. The study shows that, when it comes to the preferred social network, age is an important determinant.

Snapchat Popularity

Snapchat continues to have the disruptive effect in the social media space, especially in the U.S., as 71% of people surveyed, between the ages of 18-34 years, prefer the network as their best social networking site. It should be a point of concern for Facebook as it came out with the lowest percentage between the ages of 18-34 at 38%, lower than that of its fierce rival Twitter Inc (NYSE:TWTR), which came in at 41%.

Gone are the days when Facebook Inc (NASDAQ:FB) was the preferred network for young folks as the study suggests the highest portion of its users are of ages 65 and above. Snapchat has not yet picked up the pace with the older folks as only 1% of the surveyed people use it. The study did not cover people under the ages of 18, but again you would expect Snapchat to lead the pack as it did between the ages of 18 and 34.

Facebook Inc (NASDAQ:FB)’s Dominance

Snapchat is however, being given a run for its money by other networks, including Vine, Tumblr and Instagram for the Millenials. Older people are, however, gravitating towards older and more sophisticated platforms. Instagram beats the competition on the amount of time spent within an app as more people tend to share more photos on it compared to other platforms.

Facebook Inc (NASDAQ:FB), however, is still the dominant social networking site in the U.S., reaching over 81% of the total population. The giant social networking site also leads the way in terms of online video viewing and advertising, which is one of its core businesses. National Geographic came on top as the best social brand, especially for viewing baby animal’s photos. MySpace is also enjoying some sort of renaissance in the social media space, having received 40 million visits last year, thanks to its shift of focus to music and video.

Viraj Shah

Viraj Shah has completed M.Com (Finance) and is currently pursuing his CFP. He tracks US markets along with other global markets like India very closely. He is very passionate about stocks, real estate, and technology. He also believes that money can always be made in the market.

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