Facebook has over 800 million users, so if it were a country, it would be the third biggest country in the world just behind China and India. Facebook has over 70 languages and 75% of users are outside the U.S. Facebook has gained 200 million users in 2011, a growth rate of 33%. For those of you thinking Facebook has hit their peak, forget it.
People love Facebook and can’t get enough of it. About 50% of those users go on every day and 40% have accessed Facebook through a mobile device. Users spend an average of 15 hours a month on Facebook, probably more time they spend at the dinner table. Facebook is not for kids, over 75% of users are over 18, and the fastest growing segment is 55+. Even my mom is on it, even though she won’t want me giving her age out (I’d get a phone call saying “Did you need to say how old I was). On average, more than 250 million photos are uploaded per day. Facebook has truly utilized the addictive nature of us all, looking up statuses, linking in with friends from years ago and randomly clicking “Like” here and there. We’re all guilty of it, in fact 800 million of us are.
A recent survey in Cosmopolitan Magazine says that 20% of women would give up sex before they’d give up their beloved Facebook. Mind you, the same survey said 25% of college students would give up sex if they didn’t have to lug around text books, which supports that great pick up line of “Hi Can I carry your books”.
Facebook has turned this phenomena into a money making machine. Facebook has revenues of $4.2 Billion in 2011, up 114% from last year. Like most on-line sites, Facebook makes most of their revenue from advertising, all those ads you see down the side of the page. While not the strongest click-through rates, the sheer girth of reaching 800 million users for 40 hours a month gives Facebook plenty of opportunity for sales. Facebook has tinkered around with Facebook Points, not yet making it work. But what Facebook points really are is a currency where you can buy things. If Facebook will be the biggest “country” one day, it’s a natural step that they would have a currency. Imagine how addicted we’d be when Black Friday has us all on Facebook trading “Facebook dollars” for a new Coach bag for my wife.
Mark Zuckerberg is still only 27. He’s finally old enough for a low level manager role at a Fortune 500 company, but they’d still be cautious and put him on a low risk brand assignment. Maybe that’s because he still looks about 19. Yet he’s worth $17.5 Billion and he’s already been named Time Magazine Person of the Year.