Despite the sensationalist stories we’ve seen so frequently in the media, the data show that more Millennials in the United States use Facebook each month (93% of 13-29 year-olds) than watch traditional television (76% of 18-34 year-olds).
That’s not quite the end of the story though.
When younger people in these Western nations do use Facebook, they’re doing so for quite different reasons than they did a few years ago. Many under-30s in Western markets still check in to Facebook on an almost daily basis, but they’re sharing fewer of their personal stories on the platform.
Anecdotally, they see Facebook as a good place to share third-party content and links, and to find similar content that their friends have shared too. However, overall, Millennials’ preferences are shifting to newer – and often more private – social channels such as Instagram, Snapchat, and mobile messengers like WhatsApp.

Read the full piece at We Are Social
Also see this piece from <re/code>

Sources