Facebook has lost about half a million global daily users in the fourth quarter of 2021 compared to the previous quarter, according to the quarterly report of Meta.
The statistic shows Meta's struggle to stay relevant among younger users, many of whom are drawn to competing apps like TikTok.
Many witnessed partial stagnation of Facebook app due to its aging user base and the fact that it has run out of new countries to expand into, it was stated.
The report indicated the reduction of Facebook user growth specifically in the US, but this is the first quarter in which its global daily user base has dropped.
It is more important than ever to Meta change its strategy in order to retain and attract new users.
Meta said investing more in short-form video features like Reels, its TikTok clone.
Facebook CEO Mark Zuckerberg mentioned TikTok by name major rival of his business.
TikTok said it has one billion users as of September of last year, and was the most downloaded app in the world in 2021.
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