Millennials have taken down dozens of industries — but it looks like Gen Z could be the ones to kill Facebook

  • Generation Z — the generation after millennials — is migrating away from Facebook in favor of other social media platforms.
  • A recent estimate suggested a declining teenage user base for the social media giant, while Snapchat and Instagram's user base is surging.


Millennials are responsible for the declines of several American industries — department stores, casual dining restaurants, and paper napkins, to name a few.

But when it comes to social media, it's an even younger generation — Generation Z — that's changing the rules of the game.

Salaries of employees at 25 top tech companies:

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Salaries of employees at 25 top tech companies
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Salaries of employees at 25 top tech companies

Google

Average annual bonus: $32,478

Average sign-on bonus: $27,547

Average annual base salary: $136,000

Netflix

Average annual bonus: $0

Average sign-on bonus: $3,520

Average annual base salary: $206,000

Twitter

Average annual bonus: $120

Average sign-on bonus: $26,144

Average annual base salary: $149,000

Apple

Average annual bonus: $20,298

Average sign-on bonus: $27,201

Average annual base salary: $102,000

Facebook

Average annual bonus: $33,225

Average sign-on bonus: $45,708

Average annual base salary: $145,000

Oculus VR

Average annual bonus: $395

Average sign-on bonus: $6,926

Average annual base salary: $119,000

Amazon

Average annual bonus: $24,732

Average sign-on bonus: $41,340

Average annual base salary: $118,000

Square

Average annual bonus: $988

Average sign-on bonus: $17,996

Average annual base salary: $134,000

Uber

Average annual bonus: $31,633

Average sign-on bonus: $1,807

Average annual base salary: $117,000

Pinterest 

Average annual bonus: $4,374

Average sign-on bonus: $33,376

Average annual base salary: $151,000

Tesla

Average annual bonus: $4,779

Average sign-on bonus: $19,447

Average annual base salary: $105,000

UnitedHealth Group

Average annual bonus: $7,280

Average sign-on bonus: $118

Average annual base salary: $87,000

Snap Inc.

Average annual bonus: $10,588

Average sign-on bonus: $23,705

Average annual base salary: $127,000

Hewlett Packard Enterprise Co.

Average annual bonus: $10,756

Average sign-on bonus: $8,265

Average annual base salary: $131,000

CSRA

Average annual bonus: $13,732

Average sign-on bonus: $1,186

Average annual base salary: $100,000

credit: Facebook

Capital One

Average annual bonus: $15,114

Average sign-on bonus: $8,568

Average annual base salary: $107,000

Fitbit

Average annual bonus: $18,069

Average sign-on bonus: $25,459

Average annual base salary: $128,000

Pandora

Average annual bonus: $22,316

Average sign-on bonus: $18,886

Average annual base salary: $109,000

Microsoft 

Average annual bonus: $23,224

Average sign-on bonus: $20,191

Average annual base salary: $179,000

Airbnb

Average annual bonus: $23,250

Average sign-on bonus: $23,250

Average annual base salary: $124,000

Arista Networks

Average annual bonus: $27,497

Average sign-on bonus: $18,652

Average annual base salary: $151,000

credit: Facebook

Linkedin

Average annual bonus: $32,216

Average sign-on bonus: $25,418

Average annual base salary: $149,000

Dropbox

Average annual bonus: $32,707

Average sign-on bonus: $32,833

Average annual base salary: $144,000

VMware

Average annual bonus: $33,145

Average sign-on bonus: $18,851

Average annual base salary: $147,000

Salesforce

Average annual bonus: $39,959

Average sign-on bonus: $28,314

Average annual base salary: $142,000

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Defined as people born between 1995 and the mid-2000s, Generation Z has a markedly different approach to social media than the generations that preceded it.

In November, a Piper Jaffray survey found 47% of teens consider Snapchat their favorite social media platform, up from 35% the year before.

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Instagram was the preferred platform for 24% of teens, the same number as one year earlier. Meanwhile, only 9% of teens chose Facebook — a decline of 4% from 2016. 

The results were another round of bad news for Facebook. In September, market research firm eMarketer estimated that the number of Facebook users between the ages of 12 and 17 would fall 3.4% to 14.5 million people by the end of the year.

"We see teens and tweens migrating to Snapchat and Instagram," said eMarketer senior forecasting analyst Oscar Orozco. "Both platforms have found success with this demographic since they are more aligned with how they communicate — that is, using visual content."

"Outside of those who have already left, teens and tweens remaining on Facebook seem to be less engaged—logging in less frequently and spending less time on the platform."

Despite the bad forecast, Facebook remains the most popular social media platform in the US, and the company's ownership of Instagram should soften any financial hit it takes with a declining user base. 

But if the numbers are any indication, Facebook could have a big Generation Z problem in the future.

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See Also:

SEE ALSO: A 40-year study of teens finds Generation Z is unlike any past generation — here's what they're all about

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