Facebook is closing in on two billion community; will promote video sharing

February 2, 2017, 9:34 am
Facebook is closing in on two billion community; will promote video sharing
BUSINESS NEWS
BUSINESS NEWS
Facebook is closing in on two billion community; will promote video sharing

Facebook is closing in on two billion community; will promote video sharing

The social networking giant Facebook has hit 1.9 billion people, out of 1.23 billion people active every day, adding more users this quarter than any in its history. Of the 1.23 billion daily active users, where 1.15 billion of them are on mobile.

Mark Zuckerberg, Chief Executive of California based company announced another set of strong earnings today, and updated its metrics on how many people use the world’s largest social network. Facebook now reaches 1.86 billion monthly active users, having added 70 million users in the quarter. That is an 18 percent increase from the year prior and up from the 17 percent bump last quarter.

Zuckerberg also announced that his company’s biggest focus will be on putting video first across our its various platforms.

Our biggest focus continues to be putting video first across our family of apps. More than 150 million people now use Instagram Stories every day. We’ve launched our new camera in Messenger and have started rolling it out in Facebook as well
Mark Zuckerberg, Facebook CEO

In terms of revenue, Facebook Inc. squeezed nearly 30 percent more money per user in the fourth quarter.

Users spent more time watching videos on Facebook and its photo-sharing app Instagram, providing the social media giant with more slots for ads. Each user generated $4.83 in revenue in the fourth quarter, jumping from $3.73 a year earlier, Facebook said Wednesday, helping send the company’s revenue up 51 percent to $8.81 billion.

Since Facebook’s last earnings report in November 2016, the company had managed to secure more than half of the world’s internet-connected people as users. Facebook is reportedly working on a slew of connectivity projects, including giant laser-emitting drones, to try to drum up new users in areas without robust internet connections.

Reports also suggest the the company has considered changing its stance on state-controlled censorship on its site to get a foothold into China. With an estimated 720 million internet users, there would be a lot of new space for Facebook to grow behind China’s Great Firewall. But there are some signs (paywall) those users will be harder to come by than the first 2 billion, the Quartz reported.

Facebook was accused of spreading hoaxes and misinformation that helped get US president Donald Trump elected, and of worsening political polarisation by immersing users in content that they already agreed with.