There’s been lots of new changes to Facebook this week. This includes new features such as friend-based recommendations; new video content and Facebook celebrates reaching 1.86 billion users!
Recap on Facebook 2016
Let’s start with the growth of Facebook’s bottom line. In 2016 the financial report shows that Facebook has made $8.8 billion in revenue with $3.56 billion in profit. Pretty impressive way to end 2016. Here’s a couple of other key stats:
- In the last quarter Facebook’s mobile advertising made up 84% of its revenue.
- Out of the 1.86 billion monthly users, 1.74 billion are logging in on mobile.
- 23 billion people use Facebook everyday, with 1.15 billion on mobile.
- Facebook made close to $27 billion for the whole of 2016, an increase of 57% from the previous year. This is a result of purchasing Instagram, Whatsapp and Facebook Messenger
Now we know what Facebook has managed to achieve in the last year, let’s have a look to see what they have planned for 2017.
This new feature will now make it easier for you to decide where to get a bite to eat of go for a drink. Instead of using Google or TripAdvisor, you can now just ask on Facebook and your friends can drop you a recommendation. This is what it looks like:
“Our top priority is keeping you connected to the people, places and things you want to be connected to — starting with the people you are friends with on Facebook.”
This is a great new update. Not only will be able to get more data the Facebook app will become a ‘go to’ for such dilemas.
Not only can you ask your friends for recommendations for food etc, you can also make new connections by “Discover People” (sounds a bit like Twitter’s tool). From here you can make new connections and find relevant events taking place in your location. Watch out LinkedIn – this could put you out of business!
Focus on Video
Video is now the king of content in 2017. Facebook have recoginised this as a major trend and are looking to improve Facebook Live and continue to experiment with Live 360 and face filters.
“I see video as a mega trend,” said Zuckerberg.
There have been romours that Facebook will be creating a new set-top TV box, but this isn’t going to happen right away.
“Over the longer term…people will experiment with longer forms of video as well as all kinds of different things.” Quick, snackable clips are “the primary focus for the foreseeable future.”
So Facebook aren’t going to try to be like Netflix just yet, but they are interested in the way YouTube have grown the platform. At the moment people on Facebook only stumble on video content on the Facebook Live feed. With the new video tab, the plan us to give people ongoing content.
Stories on Facebook
Stories is a big feature on Snapchat, but now Facebook has introduced Stories on Instagram which has caused a bit of a problem to Snapchat. Instagram Stories has nearly 150 million daily active users – which is just in the first 5 months of launch! This number is equal to Snapchat’s daily active users. What’s going to happen to Snapchat? Will they create a more improved feature? Or could Snapchat become obsolete?
Other interesting Facebook Related Stats
- Instagram has hit 600 million users which could be attributed to the growth of stories
- Messenger has 400 million using Facebook Messenger audio and video calling every month
- Whatsapp has 1.2 billion users sending 50 billion messages every day
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