I know what you’re thinking, it doesn’t seem like a large number for Facebook to lose. With more than 2.2 billion people using the platform every month, how can losing 1 million affect the platform? It depends on the frequency the users would go onto Facebook! The million users that Facebook lost in the last three months are daily and monthly users within the European region. Figures show daily users dropped from 279 to 278 million, and monthly users dropped from 376 to 375 million.
Facebook was in the headlines last month for the cyber attack that exposed 50 million accounts. Also, let’s not forget the Cambridge Analytica scandal that was revealed in March, where the social network was fined £500,000 under GDPR.
Officials expected revenue growth to slow down from the July financial results. An initiative to combat malicious content also expected costs to rise. Costs in comparison to last year have risen by 53% to £6.2 billion. Possibly, as a result of the mass recruitment of thousands of new content moderators. The number of employees at Facebook has risen by 45% since the last year to 33,000.
Despite some of the hardships the company has faced this year, CEO Mark Zuckerberg was positive for the future:
“Our community and business continue to grow quickly, and now more than two billion people use at least one of our services every day,” he said. “We’re building the best services for private messaging and stories, and there are huge opportunities ahead in video and commerce as well.”