Facebook’s announcement of a name change to Meta, sent some users into a frenzy that the social media giant would dissolve their most-used platform. But UNO Marketing Professor Lisa Palumbo said Facebook isn’t going anywhere.
“What they are doing is trying to basically change their corporate identity in a symbolic way to Meta, representing Metaverse which is an immersive virtual space that’s Facebook’s been pursuing for quite a while now,” said Palumbo.
Palumbo doesn’t expect the user experience for Facebook to change drastically anytime soon. She believes one reason for the corporate name change is to expand and increase usership among a younger demographic, which has been steadily decreasing over the years.
“Pursing virtual reality, I think is what they believe will kind of even that out, and probably will bring people of all ages in,” said Palumbo.
Oculus Quest, a virtual reality system owned by Facebook, also announced a name change to Meta Quest, which will take effect next year.
Despite Facebook being under fire recently for lack of oversite for misinformation and accusations of placing profits over safety, Palumbo doesn’t believe the name change is an overt effort to hide from negative press.
“I think it’s just emblematic of the expansion they’re doing. The Metaverse is a really interesting space and as a user of it I really recommend people try it out,” said Palumbo.
Facebook plans to start trading under their new name Meta beginning December 1st.
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