Even FaceBook Admits Teenagers Are Getting Bored With it

Facebook has made the startling admission that teenagers are becoming bored with the social networking giant.

Facing competition from younger, more agile and 'cooler' apps such as Snapchat and Instagram, Facebook fears its long-term business could be harmed.

And as Facebook approaches its tenth anniversary the firm published its annual 10-K report last month revealing that its younger users are increasingly turning away from the multi-billion dollar business.

Published last month, the annual company report states, 'We believe that some of our users, particularly our younger users, are aware of and actively engaging with other products and services similar to, or as a substitute for, Facebook.

 In the event that our users increasingly engage with other products and services, we may experience a decline in user engagement and our business could be harmed.'

'For example, we believe that some of our users have reduced their engagement with Facebook in favor of increased engagement with other products and services such as Instagram.

The sobering admission that they need to sharpen their public image comes as Facebook Director of Product Blake Ross announced in scathing terms why he was leaving the social networking powerhouse.

'I think kids are less self-conscious about trying to be cool than marketers would like to think,' she added.

Teenagers are turning to sites like Tumblr and apps like Snapchat and Instagram as their preferred methods of communication.

'Tumblr is mainly my obsession as of now,' said 15-year-old Collin Wisniewski to The Verge.

'It just seems more intimate and its not really a place of bragging, but more of a place of sharing.'

Apps such as Snapchat give power to younger users who do not like the idea of their images existing forever and tagged on Facebook,

'I would say that this app really is one of my major communicating devices more than really a social network,' said Wisniewski.

However, this does not mean that teens are leaving Facebook similar in manner to the demise of MySpace.

They are simply using the service less and other newer products more. 

And, of course, monetarily, Facebook owns Instagram and is still at the forefront of mobile device apps.