Facebook is the largest social network in the world with over 2 billion users now. No other platform is even close to reaching that number. However, after hitting this milestone, it seems the road from here will be hard for the social networking platform. After hitting 1 billion monthly active users, it took the social network almost five years as Facebook 2 Billion Users historic number was reached.
As Facebook 2 billion users hit the Search for the next billion begins
Now that Facebook has achieved its target of 2 billion users, some believe the growth rate will slow down. To prove the critics wrong, the company will now have to target users who have access to the Internet but are not on Facebook. The majority of such users are in China, where the company is not allowed to operate. The only way Facebook can enter China is to give up some of its values about open information and free speech, notes Business Insider.
Facebook will also need people who are not yet using the Internet to start using it. The company’s revenue metrics showed that most of the revenue comes from North America, Europe and Asia – the regions with the highest concentration of people who are connected to the Internet.
The average American consumer spends 5 hours on average on their mobile device. Further, compared to other parts of the world, users in North America and in Europe have higher disposable income to spend on consumer goods. Therefore, the company will have to work hard to reach and convince the next billion users to spend time on the platform.
Big user base, bigger problems
Last year, Facebook already warned investors that growth might dip, as it was running out of places in its core app to show ads. The company does accept that there is not enough space in the News Feed to put advertisements, which is its core revenue generator. Therefore, the company is testing other sources, such as Instagram and Messenger, for displaying ads.
Slowing revenue growth does not seem to be the only problem that Facebook will face. As the company grows, it is more likely to get into problems such as legal issues. The social networking giant is already facing legal battles in the European Union. Problems such as fake news and faulty reporting have also been all over the Internet in recent times.
Facebook accepts that it now has s greater responsibility to make social media more positive, Chief Product Officer Chris Cox, told TechCrunch in reference to the Facebook 2 Billion Users milestone. New Zealand tech expert Paul Brislen told Radionz that the company’s growth is impressive.
“My concern is really that Facebook doesn’t really know that it is the future of publishing and yet that is exactly what it is. It refuses to play the part of a media publishing house when in fact what it has managed to do is destroy the media publishing business.”
Facebook is not the only company that is facing an uphill battle to keep its image clean and offer users what they want. Google has long been facing similar ire around the world, with the most recent case being the humongous fine of $2.72 billion from the European Commission for Competition.