Facebook, one of the largest social media platforms in the world, has seen its share of ups and downs when it comes to its status and popularity. As of October 12, 2023, there are some quick answers we can provide regarding Facebook’s current status:
Is Facebook currently up and running?
Yes, Facebook’s platform and servers appear to be up and running without any major outages based on third-party site monitoring and user reports on October 12, 2023. There do not seem to be any widespread issues accessing Facebook’s website or mobile apps at this time.
Is Facebook still gaining monthly active users?
Facebook’s worldwide monthly active users (MAUs) have continued to grow over the past year, but at a slower pace. In 2022, Facebook reported having 2.96 billion MAUs as of June 30, 2022 which was up 1% year-over-year. So the platform is still gaining active users monthly, but the growth has leveled off compared to prior years.
How has Facebook’s stock price been trending?
Facebook’s stock price has been declining significantly in 2022 and continuing into 2023. Here is a table showing Facebook’s closing stock price in the past year:
| Date | Closing Price |
|---|---|
| October 11, 2022 | $130.01 |
| January 3, 2023 | $112.24 |
| October 12, 2023 (today) | $95.37 |
As the table shows, Facebook’s stock price has dropped over 25% in the past year, indicating investors are losing confidence in the company’s growth prospects.
Why is Facebook’s stock declining?
There are several factors contributing to Facebook’s falling share price:
- Slowing user growth – Facebook is struggling to continue growing its userbase globally.
- Young users shifting to other platforms – Younger demographics are using Facebook less and migrating to other apps like TikTok.
- Advertising headwinds – Advertising spending and revenue has declined, impacted by economic factors like inflation and recession fears.
- Increased competition – Apps like TikTok and Twitch are taking market share in social media and video.
- Concerns around targeting and data privacy – Governments implementing more privacy regulations makes Facebook’s ad targeting less effective.
In summary, Facebook is seen as having less growth potential long-term due to market saturation, younger demographics leaving the platform, and external economic and regulatory pressures.
Has Facebook’s reputation declined recently?
Yes, Facebook’s public reputation and brand image has declined significantly over the past several years due to a variety of controversies and issues, including:
- Cambridge Analytica data scandal
- Spread of fake news and misinformation on Facebook
- Data and privacy concerns
- Allegations of bias in news feeds
- Role in polarization and division of discourse
- Whistleblower leaks and testimony
These issues have led to increased public distrust and negative sentiment toward Facebook as a company. Surveys consistently show Facebook has high rates of user dissatisfaction and a declining brand reputation. This makes attracting and maintaining users even harder going forward.
Public opinion polls on Facebook
Here are some sample statistics from public opinion polls demonstrating Facebook’s reputation challenges:
- A 2022 Pew Research poll found 75% of U.S. adults say social media sites like Facebook have a negative effect on their users.
- A 2022 Gallup poll found Facebook’s U.S. favorability rating was only 41%, down from 79% in 2017.
- A 2022 Morning Consult poll found Facebook tied for 2nd most “hated” brand in America.
How is Facebook addressing these challenges?
Facebook has tried several strategies and initiatives to turn around its declining reputation and business headwinds:
- Investing heavily in virtual and augmented reality technologies – Facebook believes the metaverse will be the next computing platform and is staking its future on leading that space early with investments in VR/AR and a rebrand to Meta.
- Attempting to attract younger users – Efforts include launching Instagram Reels to compete with TikTok and cross-promoting Instagram to Facebook users.
- Campaigns to defend its reputation – Mark Zuckerberg has conducted media interviews, purchased newspaper ads, and appeared in Congressional hearings to share Facebook’s side of controversies.
- Initiatives around safety, security, and privacy – Adding privacy controls, transparency features, removing fake accounts, hiring content moderators, etc.
It remains to be seen how effective these strategies are, as most of Facebook’s reputation and business metrics have continued declining despite its efforts to counter that so far.
Conclusion
In summary, while Facebook remains an active platform used by billions of people globally, its growth and public perception face increasing challenges. Stock price declines, user disengagement, public controversies, competition from new apps, and reduced ad revenue all indicate Facebook’s status and reputation are significantly “down” from its peak. Facebook is attempting an uncertain shift to virtual reality and the metaverse to regain momentum, but the company faces an uphill path to return to high growth and public favor.