Nevertheless, Google’s YouTube is a strong competitor for the top spot, accumulating around 2.5 billion monthly users in January 2023. In addition, WhatsApp and Instagram have both achieved two billion MAUs. Facebook is the most used social media platform worldwide, with almost three billion monthly active users (MAUs) as of January 2023. Meta’s Family of Apps continues to dominate most the social media industry in terms of user numbers. The vast majority of Meta’s revenue is produced through advertising. Additionally, around 98 percent of Meta’s annual revenue is generated by its Family of Apps, with the remaining two percent being generated by Reality Labs. This decrease in revenue is still substantial growth of around 36 percent when compared to 2020’s annual revenue of 85.9 billion U.S. dollars in annual revenue in 2022, the company reported its first ever decrease, down from 117.9 billion U.S. At the beginning of 2023, the company joined the generative AI race and stated the development of its AI discovery engine as one of its priorities, while relegating the metaverse development to long-term project status.Īlthough Meta generated an impressive 116.6 billion U.S. For Meta, the development of a metaverse environment is still a work in progress, as plans to create a different kind of online experience are still in the very early stages. This is however a far cry from its peak of 1.07 trillion U.S. dollars, making it the third most valuable U.S. Meta’s market capitalization as of February 2023 stood at 479 billion U.S. As of the beginning of November 2022, Meta disclosed that Facebook, Instagram, and WhatsApp, would see a significant wave of layoffs, affecting around 11,000 employees (13 percent of the company’s workforce). Just over one year in, Meta's much-talked-about rebranding and focus on the metaverse has not so far worked out in the company’s favor.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |