, is beginning to make headway against TikTok, according to a new survey by Morgan Stanley.
The brokerage firm conducted a 2,000-person study in April focused on tech adoption and found that 74% ofFacebookMeanwhile, 49% of survey respondents said they use TikTok, up from 47% in September 2022 and 45% in March last year. "This flattening of TikTok adoption as other platforms rise is notable," the Morgan Stanley analysts wrote in a note to investors. , up from 49% in September, according to the brokerage firm's survey.
TikTok's rapid ascent has threatened Meta's dominance of social media in the Western world, especially by luring younger users. If Reels is finally catching on, that's good news for Meta and Zuckerberg. "This data, combined with Meta highlighting how Reels time spent is increasingly incremental and the fact that monetization on Reels is set to continue to ramp over coming quarters give us more confidence in Meta's ability to drive durable multi-year revenue growth," the Morgan Stanley analysts wrote. Subscribe to push notifications
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