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Despite taking a beating in the media from damaging reports about its business practices, a large majority of respondents to a recent poll said they still have a Facebook (FB) account. That’s according to an IBD/TIPP Poll released Monday.
Of 1,306 adults surveyed in late October, 79% said they had a Facebook account. The high percentage of Facebook users comes despite 37% saying they have an unfavorable rating of Facebook overall, while 44% said favorable.
Facebook-owned Instagram had the second-highest number of users in the poll at 49%.
The corporate parent of Facebook is Meta Platforms, a result of the recent name change.
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Among other social media companies, the IBD/TIPP Poll showed Twitter (TWTR) was third, with 34% saying they have an account. Pinterest (PINS) was next at 32%.
The poll showed TikTok and Snapchat-owner Snap (SNAP) were lowest, both at 29%.
Conducted from Oct. 27 to Oct. 29, the online poll consisted of 1,306 adults. The IBD/TIPP poll is a collaboration of Investor’s Business Daily and TechnoMetrica.
The poll was taken more than a month after the Wall Street Journal began publishing a series of articles that started on Sept. 13. The articles were based on interviews the Wall Street Journal did with former Facebook employee and whistleblower Frances Haugen.
The WSJ series, called the Facebook Files, described how the social media giant’s rules favored the powerful, how its articles fostered discord, how drug cartels and human traffickers use its platform, and the effects of its Instagram platform on the mental health of teenage girls.
The series of articles has led to multiple hearings in Washington, D.C., where politicians already had a tense relationship with Facebook and Big Tech that goes back several years. The Federal Trade Commission is pursuing an antitrust lawsuit that seeks to break up Facebook.
Despite these issues, 35% of respondents in the IBD/TIPP Poll said they had increased their usage of Facebook over the past three months, while 23% decreased usage. Another 40% said no change.
In terms of a favorable rating, Facebook and Instagram had the highest percentage. They were followed by Pinterest, Snapchat TikTok and Twitter last.
As Congress continues to examine the business practices of Amazon (AMZN), Apple (AAPL), Google-owner Alphabet (GOOGL) and Facebook, an IBD/TIPP Poll conducted in May said a majority of Americans support breaking up the four tech giants to prevent them from becoming monopolies.
Facebook stock fell 1.2%, closing at 341.01 on the stock market today.
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