Facebook has been through a rough year, at least as far as PR goes. They’ve gone through a number of scandals this last year, stoking fears that all the bad publicity will harm the social media giant going into 2019. Facebook’s number of users has been declining, but that’s not the worst news.
The list of scandals has been piling up, and Facebook has faced a tough time amid concerns over privacy and misinformation proliferating across the platform. However, despite the decline in users, it is unlikely that Facebook will face an existential crisis anytime soon. The platform has aged relatively well, and has remained ubiquitous. While the news can be frustrating, at the moment, there is no real competition to Facebook. You’re not going to end up posting your family pictures on LinkedIn, no matter how frustrated you get with Facebook. You may opt to switch to Instagram instead, as many young people have, but seeing as Facebook owns that app too, they likely won’t feel much pain as a result of your decision.
TV revenues increased for years when it peaked, suggesting that Facebook likely has a positive outlook going forward. The company also owns several apps such as Instagram and WhatsApp, providing further opportunities for monetization. We can reasonably expect more trouble for Facebook going forward, but the platform isn’t going anywhere yet.
