Facebook reaches milestone, crosses 2 billion daily active users
There was a time when Facebook dominated social media and had little to no serious competition. However, over the years, competition from platforms like TikTok and others has hurt the company run by Zuckerberg. During the last quarter, the company saw its turnover drop by more than 30%. However, all is not bleak for the social network, as its latest earnings call reveals. Meta-owned Facebook now has more than 2 billion daily active users.
“Our community continues to grow and I’m thrilled with the strong engagement in our apps. Facebook just hit the milestone of 2 billion daily active users,” Facebook CEO Mark Zuckerberg said in a statement.
Facebook and sister apps have seen notable growth in user activity
The earnings call report mentioned that overall active users on Facebook as well as Meta’s family of apps – which includes Instagram, Messenger, WhatsApp – saw a jump. While Facebook averaged 2 billion daily active users (4% year-over-year growth), the Meta family of apps saw average traffic of 2.96 billion (5% growth over a year). On a monthly basis, Facebook received an average of 2.96 billion active users. Meanwhile, the Meta family of apps recorded an average traction of 3.74 billion monthly active users.
Zuckerberg highlighted the roles of popular short videos Reels and the progress of Meta with its use of AI. He said: “The progress we are making on our AI discovery engine and Reels are the main drivers of this. Beyond that, our management theme for 2023 is “the year of efficiency” and we are focused on becoming a stronger and more agile organization. »
Meta has experienced user growth amid shifting priorities
This user base growth comes at a time when Meta has gone through layoffs and restructuring in response to the global economic downturn. In November 2022, the company announced that it was cutting around 11,000 jobs, due to a change in priorities.
At the time, Zuckerberg said, “Unfortunately, it didn’t go the way I expected… Not only has online commerce returned to earlier trends, but the macroeconomic downturn, increased competition and loss of advertising signal resulted in lower revenue than I expected… I was wrong and I take responsibility for it.