WASHINGTON: With mom, dad and grandma signing up in increasing numbers, Facebook is losing younger users in the US at a faster pace than previously estimated, researchers said Monday.
A report by eMarketer said Snapchat is drawing youths away from Facebook at a quicker clip than Facebook-owned Instagram.
Facebook is still growing in the US market, according to research firm, mainly due to increases in usage by older age groups.
The report is the latest to highlight Facebook's problem with attracting and keeping young people, who have long been a core user base for the world's biggest social network.
The research firm said it expected the first-ever decline in the 18-24 age group in the US, a drop of 5.8 percent this year.
It also said that for the first time since its research began, less than half of the 12-17 age group in the US would be on Facebook, with a 5.6 percent drop in that segment.
The under-12 age group meanwhile will see a decline of 9.3 percent this year, eMarketer said.
The same trend is expected to continue into 2019 and 2020, with declines in all segments of US users under 25, the report added.
Facebook will lose an estimated two million users under 25 this year, with Snapchat and Instagram the main beneficiaries.
The report said Snapchat will add 1.9 million users under 25 in 2018 and Instagram will add 1.6 million.
Snapchat, which is known for its disappearing messages, will continue to have more users aged 12 to 24 than Instagram, the researchers said.
But Snapchat could end up facing a similar problem as it seeks to increase its user base and reach all ages.
"Snapchat could eventually experience more growth in older age groups, since it's redesigning its platform to be easier to use," eMarketer analyst Debra Aho Williamson said.
"The question will be whether younger users will still find Snapchat cool if more of their parents and grandparents are on it. That's the predicament Facebook is in."
Facebook remains the most popular social network in the US market with an estimated 169.5 million users this year, according to eMarketer.
But faster-growing Instagram will be used by 104.7 million Americans and Snapchat will reach 86.5 million users, according to the forecast.
Last year, eMarketer predicted Facebook would see declines among some youths for the first time in its history.
A report last year by investment firm Piper Jaffray showed Snapchat is the preferred social network for US teens, with 47 percent using the platform.
Less-cool Facebook losing youth at fast pace: survey
Less-cool Facebook losing youth at fast pace: survey
Saudi Arabia opens 3rd round of Exploration Empowerment Program
RIYADH: Saudi Arabia’s Ministry of Industry and Mineral Resources, in collaboration with the Ministry of Investment, has opened applications for the third round of the Exploration Empowerment Program, part of ongoing efforts to accelerate mineral exploration in the Kingdom, reduce early-stage investment risks, and attract high-quality investment from local and international mining companies.
The third round of the Exploration Empowerment Program offers a comprehensive support package targeting exploration companies and mineral prospecting license holders.
The initiative aims to lower investment risks for projects and support a faster transition from prospecting to development.
"The program provides coverage of up to 70 percent of the total salaries of Saudi technical staff, such as geologists, during the first two years, increasing to 100 percent thereafter, in line with program requirements.
This support aims to develop talent, build national capabilities in mineral exploration, promote job localization, and facilitate the transfer of geological knowledge.
The application for the third round opened on Jan. 14, allowing participants to benefit from the Kingdom’s attractive investment environment, its stable legal framework, and streamlined regulatory structures, as well as integrated infrastructure that supports the transition from mineral resources to operational mines.
The ministry has set the timeline for the third round, with the application period running from Jan. 14 to March 31.
This will be followed by the evaluation, approval, and signing of agreements from April 1 to May 31, with the eligible projects set to be announced between June 1 and July 31 of the same year.
The program stages include submitting exploration data during the reimbursement and payment phase from Sept. 1 to Nov. 30, followed by technical and financial verification of work programs and approval of the disbursement of support funds in January 2027.
The exploration data will then be published on the National Geological Database in April 2027.
The ministry emphasized that the EEP focuses on supporting the exploration of strategically important minerals with national priority. It also contributes to enhancing geological knowledge by providing up-to-date data that meets international standards, helping investors make informed decisions and supporting the growth of national companies and local supply chains.
The ministry urged companies to apply early to benefit from the program’s third round, which coincided with the fifth edition of the International Mining Conference, which was held from Jan. 13 to 15.
