Facebook, the world's largest social media network, is losing its appeal to younger users as they turn to Snapchat and Instagram, however the company has the financial clout to surmount changing market dynamics, according to a new report.
Facebook users in the 12 to 24 age range are forecast to slip further this year in the US and UK, according to research from New York-based eMarketer. "We see teens and tweens migrating to Snapchat and Instagram," said Oscar Orozco, eMarketer senior forecasting analyst.
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These users want more visual content and fewer words, which is why eMarketer believes Snapchat will overtake both Instagram and Facebook in terms of total users at the 12-24 age bracket for the first time this year. The researcher expects Snapchat's share of social network users in America will grow nearly 41 per cent.
In the UK, Instagram will take top place, securing more than a quarter of the population with 16.7 million people, an increase of 35 per cent compared to last year. Snapchat will follow with 21 per cent of the population. Facebook and Snapchat could not be reached for comment.
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Bill Fisher, eMarketer's UK senior analyst, said that more young adults turn to Snapchat repeatedly throughout the day, helping to create a space away from older generations.
"It's kind of their little place where they don't feel like they have to be on display and they can be their true selves because they are talking to their friends," Mr Fisher said. "Facebook, on the other hand, is so pervasive throughout all age groups that younger users feel somewhat stifled, or else not separated from their older peers."
This is not just trending in the US and UK, but around the world, yet that does not mean that Facebook is at risk of losing its edge in the near future. The company has the capital to flex its financial muscle, leading into a larger user base, as evidenced with the acquisition of Instagram in 2012."Facebook has the clout to buy up competitors like Instagram and, if it feels the need to tweak the various platforms to mimic some of the more popular features of those competitors," Mr Fisher said.
For the Dubai-based digital marketer Tonic International, Facebook may be losing its edge for the younger crowd, but users over age 45 are growing. Facebook has evolved, getting away from a friend-only update atmosphere and morphing into a news and updates social network, said Ahmed Samy, Tonic's digital performance director.
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However, he said that Tonic has noticed that the younger generation comes back to Facebook after passing teenage years as their communication needs change.
There are social media platforms available for each audience, and there is no single platform that fits all, especially when it comes to business engagement. “We still depend on Facebook because it is still the largest platform in addition to Instagram so we run our ads on both [simultaneously] to assure we have the potential accumulated reach.
“But for example, if the client's business is only targeting the under 21 years old youth, we will put more investment behind Instagram versus Facebook,” Mr Samy said.
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
COMPANY%20PROFILE
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Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
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Started: July 2016
Founders: Mukesh Bansal and Ankit Nagori
Based: Bangalore, India
Sector: Health & wellness
Size: 500 employees
Investment: $250 million
Investors: Accel, Oaktree Capital (US); Chiratae Ventures, Epiq Capital, Innoven Capital, Kalaari Capital, Kotak Mahindra Bank, Piramal Group’s Anand Piramal, Pratithi Investment Trust, Ratan Tata (India); and Unilever Ventures (Unilever’s global venture capital arm)
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• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil
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Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.
Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster with a decades-long career in TV. He has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others. Karam is also the founder of Takreem.
Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.
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Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
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Killing of Qassem Suleimani
