Every month, 4.5 million adults in Boston use social media, according to Nielsen. Eighty percent of these consumers use Facebook, far more than other sites like Instagram (also owned by Facebook), Twitter, Snapchat, Pinterest, and LinkedIn.
As a stand-alone medium, Facebook is used by more people in Boston than watch local TV stations. Only Boston radio and local cable reach more consumers.
Yesterday, Facebook founder Mark Zuckerberg announced the company was changing its name to "Meta". This change, though, only affects the name of the parent company. There will be no change to the company's brands like Facebook, Instagram, or WhatsApp.
How will this name change affect Boston businesses that advertise on Facebook?
The Facebook name change is expected to have little, if any effect, for the platform's users or advertisers.
"But virtually all of Facebook’s revenue — $29 billion in the third quarter — comes from online advertising produced by the core blue Facebook app, meaning that any transition to virtual reality focused on the sale of hardware would take enormous investment and many years."
So, Boston business owners who buy advertising on Facebook will see few effects from the name change. Users are expected to continue posting, liking, sharing, and, most importantly, clicking on the advertisements.