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Home / Business / Downloads on Facebook and Instagram are sinking: BofA

Downloads on Facebook and Instagram are sinking: BofA



Mark Zuckerberg testifies before the House Energy and Commerce Committee of the Rayburn House Office Building on Capitol Hill April 11, 2018.

Chip Somodevilla | Getty Images

Mobile app downloads by Facebook and Facebook-owned Instagram are down 13% year over year, an analysis by Bank of America shows. The combined download figures, based on SensorTower data, are up 3% in the third quarter of 2019 compared to the previous quarter, analysts wrote.

Downloads on Instagram did slightly better than Facebook, down 9% year over year compared to 1

5% so far in the third quarter. Instagram numbers are still tracking more than at the same time during the third quarter of 2018, according to the report. Mobile app downloads of the Facebook-owned app were only 4% lower than the previous year. Compared to the previous quarter, downloads of Instagram apps track 4%, BofA analysts wrote.

The trend marks a significant shift in download numbers for both apps. Last year, Facebook app downloads increased by 3% year over year during the same point in the third quarter, according to the report. The download numbers for Facebook's mobile app track 8% quarter on quarter, analysts wrote.

Facebook shares were down slightly during morning trading.

Although the report did not identify why Facebook and Instagram downloads are declining, however, Facebook has faced consumer setbacks following the Cambridge Analytica scandal that revealed user data obtained without explicit consent on Facebook's platform gained access to a political data analytics company. But it was unclear if the move had any real impact on Facebook's business, which has continued to grow.

Other social media apps are not facing the same decline as Facebook's apps so far this quarter, according to the report. Twitter, Snap and Pinterest all saw increased downloads so far in the third quarter of 2019, analysts wrote.

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