When the Cambridge Analytica scandal came to light, the general buzz surrounding Facebook was that it will get a decline in the number of users and that people will be moving away from the social media platform. Nothing of that sorts has happened apparently.
Rather than a decrease, the social media platform saw an increase in its usage. According to Goldman Sachs, US unique users on mobile rose 7% year-on-year to 188.6 million in April. The amount of time people spend on Facebook has also increased. You can check it out in the graph below:
Facebook has cause for celebration by the news from Deutsche Bank where it claimed that its advertising systems indicate that deleting 580 million fake accounts on Facebook did not affect the audience reach. The #DeleteFacebook that started after the scandal did not affect Facebook usage either and even the share prices have now stabilized after the scandal.
In a statement regarding this matter, Deutsche Bank said, “We note that this data represents audience reach across properties, not strictly tied to core Facebook, but we suspect they are cleaning up fake accounts across the board and view this as a broad indication that ad reach across Facebook continues to grow.”
With this increase in Facebook usage, Mark Zuckerberg will probably get a confidence boost as he gets ready to face the EU lawmakers.