Interest in social media declines

Young people and teenagers are spending less time on Facebook, checking in later and creating posts less frequently, which could have a negative impact on the company's profits. This was reported by Bloomberg on Monday, citing internal social networking documents.

In March, the organization's management was given a report showing that teenagers were spending 16 percent less time on the site than last year, while "young adults" were spending 5 percent less.

The number of registrations among teenagers has also fallen. In addition, the average age of a user signing up for the first time on the social network rose from 19-20 to 24-25. As Bloomberg points out, Facebook employees don't fully understand the reasons behind this trend.

"There is a problem with how young people share information about their lives. They prefer other apps to talk about everyday things and share moments in their lives," the agency quoted an internal document as saying. The social network itself estimates that interest among young people and teens will continue to decline in the coming years.

According to Bloomberg, the management of the social network prefers not to advertise this trend, as it is concerned that it could lead to a loss of revenue from advertising on the platform. Moreover, former employee of the social network Frances Haugen accuses Facebook of "not being transparent with its investors and advertiser clients".

According to the Associated Press, 17 US media outlets took part in compiling The Facebook Papers. The journalists worked together, reviewing thousands of pages of internal U.S. company documents that were in the possession of former Facebook employee Frances Haugen.