In the first quarter of 2024, Meta made $36.45 billion dollars - $12.37 billion dollars of which was pure profit. Though the company no longer reports daily active users, it now uses another metric: “family daily active people.” This number refers to “registered and logged-in users of one or more of Facebook’s Family products who visited at least one of these products on a particular day.”
This quiet, seemingly innocent change to how Meta reports growth is significant insofar as it will no longer have to report its Daily Active or Monthly active users, meaning that the only source of truth in Meta’s growth story is a vague growth metric that could be manipulated to mean just about anything. Three billion “daily active people” across Meta’s “family” combines WhatsApp, Instagram, Facebook, Facebook Messenger (which I’m confident it counts separately), Oculus, and Threads.
It definitely is dying. The younger people are dropping off because they don’t want to be on a social media network with their mum and their fucking nan.
That’s probably why they want to diversify. Different products for different age groups / target audiences.