Facebook is banking on creators to entice Gen Z. Will it work?

🌈 Abstract

The article discusses Facebook's efforts to attract younger users, particularly Gen Z, back to its platform. It highlights how Facebook has evolved from a platform primarily used by college students to one dominated by older users, with only about a third of teenagers using it. The article explores Facebook's strategies to regain its appeal among younger audiences, including focusing on social discovery features, investing in AI, video content, and creator monetization.

🙋 Q&A

[01] Facebook's Evolving User Base

1. What is the current user demographic of Facebook?

• According to the article, only about a third of teenagers used Facebook last year, while 71% of those 50 and older were on the platform.

2. What are Facebook's strategies to attract younger users?

• Facebook is working to update its main feed to offer more content that is attractive to younger audiences, including Marketplace, Groups, and Facebook Dating.
• The company is investing in AI, video content, and creator monetization in the hopes of enticing Gen Z and Gen Z creators.

3. What are the challenges Facebook faces in regaining its younger user base?

• The age gap among Facebook's user base is a major challenge, as younger users may not want to be on the same platform as their parents and grandparents.
• Experts believe it is "really, really hard" for Facebook to get back the younger generations it has lost, especially Gen Z and Gen Alpha.

[02] Facebook's Creator Monetization Strategy

1. How is Facebook trying to attract creators to its platform?

• Facebook is offering creators the ability to monetize various types of content, including long-form videos, Reels, photos, and text.
• The company has been hosting events around the world to inform creators about its evolving monetization opportunities and encourage them to spread the word within their creator networks.

2. What is the impact of Facebook's creator monetization strategy so far?

• While creators don't seem to be flocking to Facebook in droves yet, there is a "renewed interest" in the platform, particularly from micro- and nano-influencers, as well as those who post video content.
• Some creators are even asking brands to include Facebook in their partnership agreements, as diversifying across platforms can help insulate them against changes on other platforms.

3. What are the challenges and opportunities for Facebook's creator strategy?

• Experts believe content differentiation will be key to the success of Facebook's creator strategy, as the platform needs to offer something "really profound" to get Gen Z to commit their time away from other platforms like Instagram, Snapchat, and TikTok.
• However, the cyclical nature of social media platforms means that the success of Facebook's creator strategy is still uncertain.