Facebook is one of those platforms that seems to be synonymous with the Internet itself.
However, recent results show that, despite the growth of other platforms like YouTube and
Netflix, Facebook’s growth does not seem to be slowing down.
Announcing the latest results on his Facebook page, Mark Zuckerberg, Facebook’s CEO said, “We just announced our quarterly results and shared an update on our community’s progress to connect the world. Our community now has more than 1.59 billion people. More than 1 billion people use Groups. Almost 1 billion people use WhatsApp. More than 19 million people who previously had no Internet access are now connected through Internet.org.”
Facebook has seen growth on all fronts with over 75 million more people using Groups from the previous quarter, 50 million more people on Events, 5 million more Pages were created, and 19 million more people having Internet access through Internet.org.
Instagram is also on a steady growth with about 400 million people using the service each month. Facebook also highlighted its Oculus Rift device and mentioned that Samsung Gear VR had started shipping with the Oculus software. The Facebook Messenger app also continues to see growth with over 800 million users already using it to communicate on Facebook.
Online video has also seen tremendous growth in the past year and Facebook is almost at the forefront of this growth and giving YouTube a run for its money. According to the results, over 100 million hours are watched on Facebook daily. The company has been running experiments on suggested videos to see what ticks with audiences and it seems it is quickly figuring out video. Expect to see video views go up throughout the year as it improves its algorithms to serve more relevant video even better.
The company advertising revenue for the quarter was $5.6B with an overall yearly revenue of $17.93B, a 44% increase over the previous year.
Other platforms owned by Google have seen similar remarkable growth over the last quarter and throughout 2015. We can expect similar growth throughout 2016 as the company pushes with its initiatives to get “the next billion people online” through its Internet.org program.
Here is a video that highlights some of the quarter’s achievement: