Facebook nay! Instagram yay! Say today’s teens. A survey by Piper Jaffray shows that teens continue to grow tired of Facebook and are instead turning to Instagram, which incidentally is owned by Facebook. The semi-annual survey, by the investment bank and asset management firm, was based on the social media habits of upper-income and average-income teens in the US. The report titled Taking Stock With Teens surveyed around 5,000 teens and was published on Tuesday. This report unearths key statistics from fashion, video games, Apple products, and social networks.
A clean 30 % of the teens chose Instagram as their most preferred social network, dismantling Facebook from the top-spot. Piper Jaffray senior analyst and managing director Gene Munster summed up, “We saw Instagram take the mantle for the most preferred social teen site”. He also pointed out that over the last 6 months, “interest level in Facebook went from 27 [percent] to 23 [percent], Twitter 31 [percent] to 27 [percent], Instagram 27 [percent] to 30 [percent].” Facebook enjoyed almost 33 % of teen interest just a year ago. The report uncovers the reason for this steep decline to be their hunt for a “a more fun zone”.