Read & Write "Task 3. Pick one of the new media components described before and write a short blog analysis how it has influenced its area"
Facebook is a social networking service launched as TheFacebook on February 4, 2004. It was founded by Mark Zuckerberg with his college roommates and fellow Harvard University students Eduardo Saverin, Andrew McCollum, Dustin Moskovitz and Chris Hughes. The website's membership was initially limited by the founders to Harvard students, but was expanded to other colleges in the Boston area, the Ivy League, and gradually most universities in the United States and Canada, corporations, and by September 2006, to everyone with a valid email address along with an age requirement of being 13 and older.
Facebook, was the most successful social media in nowadays, he gave a push to all newly created social medias, such as Instagram, Twitter, VK, and etc. Most of all, Facebook, especially Mark Zuckerberg showed them, what kind of concept they should use and be developed.
As you may know, social medias, have a huge impact to our lives, politics and businesses. We can relate Facebook to one of the powerful tools to use in politics, as well as twitter.
Facebook has three main effects:
- Marketing Effect: Facebook’s economic impact on businesses that use it as a marketing platform for communication with consumers as well as a platform for brand building;
- Platform Effect: impact on software developers in general as well as application developers;
- Connectivity effects: impact through sales of mobile devices and Internet connection.
The communication impact of a social network in terms of economic impact is linked with the use of social networks. Thus, it is possible to derive consumers’ motive to buy and use mobile devices to access this social network. Innovations in the field of mobile devices stimulate consumers to buy new products and, ultimately, generate even greater consumption of mobile data, which has an additional effect on their own ISPs. The economic impact of the social network Facebook for 2014 is estimated at 50 billion UDS, in terms of jobs the estimate is around 1.6 million jobs. A closer look at different regions reveals that the social network Facebook has the greatest economic impact in EMEA - 18 billion USD, in the case of the region of North America the impact is 14 billion USD, the lowest impact was recorded for Central and South America - 5 billion USD. The economic impact also features the variable of jobs, the number for APAC reaches 680,000 jobs. The second highest number of jobs in connection with Facebook was recorded for EMEA - 580,000 jobs. In the case of the region of North America, the estimated number of jobs is around 150,000.
The economic impact of Facebook as a developer platform on the global market for 2014 is estimated at 29 billion UDS, in terms of jobs the estimate is about 660,000 jobs. With regard to different regions it can be stated that the social network Facebook has the greatest economic impact in EMEA - 13 billion USD, in case of APAC the impact amounts to 7 billion USD. The lowest impact was recorded in the region of Central and South America - 1 billion USD. The economic impact also involves job opportunities, in EMEA Facebook has created around 270,000 jobs, in APAC it created 200,000 jobs and in the region of North America Facebook has created around 140,000 jobs.
The impact of Facebook can be perceived also in a broader sense - the global impact on the markets. On the one hand we have revenues generated by business entities who implement marketing activities in the field of social networking, revenues of social media marketing agencies and revenues of development companies, and on the other there are the very jobs that this segment creates. Based on the analysis by Deloiite (2015), which focused on the global economic impact of the social network Facebook, the estimates were made that in 2014 the number of jobs associated with this social network had reached 4.54 million. The relevance of social networks was confirmed by the above-described analysis carried out by eMarketer (2016).
Social network Facebook has changed the way we communicate with each other, changed the way we perceive and communicate with our favorite brands or companies we come into contact with either in brick-and-mortar stores or online stores. Innovations that Facebook brings in terms of marketing activities can be described as constantly evolving, thus having a major impact on companies and businesses using this communication channel. When looking into the future, we dare to predict that despite the competition from new and mobile devices-exclusive social networks such as Instagram or Snapchat, the social networking site Facebook will, from the point of view of marketing activities, remain a leader among other social networks, and it is also possible to expect that its impact on the global markets will only strengthen.
Sources:
- https://en.wikipedia.org/wiki/Facebook
- https://bit.ly/37lRMfb
- https://www.plus1comms.com/the-effect-of-social-media-on-the-us-presidential-election/
- https://edition.cnn.com/interactive/2019/02/business/facebook-history-timeline/index.html
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