Surprise! Millennials Still Love Facebook

Facebook (NASDAQ: FB) reportedly lost teen and millennial users in the U.S. over the past two years. Pew Research claimed that 44% of 18-to-29-year-olds had deleted Facebook's app in 2018, and Edison Research claimed that the percentage of 12-to-34-year-olds logging into Facebook dropped from 79% in 2017 to 62% in 2019.

Three factors supposedly sparked that exodus: First, younger users fled Facebook as their parents joined the platform. Second, Facebook's own subsidiary Instagram, Snap's (NYSE: SNAP) Snapchat, and ByteDance's TikTok all pulled away younger users. Lastly, a series of privacy, security, and fake news controversies caused many users to reevaluate the amount of personal data they stored on Facebook.

Image source: Facebook.

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Source Fool.com