Facebook (FB) is Making Bigger Strides to Formalize Children's Accounts
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Traders in Facebook (Nasdaq: FB) are responding to reports Monday morning the company is experimenting with tapping into a whole new market: adolescents.
The social media giant is looking to develop technology which would allow users 13-years old and younger to access the site. Parents would be in charge of the accounts, giving the nod or dispelling friend requests and deciding which applications the kids can use. In addition, Facebook and partners would be able to charge parents for games and apps their children use.
Given recent privacy scrutiny Facebook has come under, the move would be a sticky one. The NY Post noted some Facebook users fudge details at registration and fake parent/guardian assent to launch an account. With that sort of thing happening and federal rules being somewhat lax on the issue proving proper authorization, it is a natural progression for Facebook to explore ways to formalize its account structure for that demographic.
Consumer reports said last year about 7.5 million children under the age of 13 are using the site, with over five million that are under the age of 10. Separately, the Post referred to a Microsoft study which showed 36 percent of the parents in that age group were aware their children joined the social networking service. Most of those parents helped in creating the account.
Shares of Facebook are down about 3 percent early Monday.
The social media giant is looking to develop technology which would allow users 13-years old and younger to access the site. Parents would be in charge of the accounts, giving the nod or dispelling friend requests and deciding which applications the kids can use. In addition, Facebook and partners would be able to charge parents for games and apps their children use.
Given recent privacy scrutiny Facebook has come under, the move would be a sticky one. The NY Post noted some Facebook users fudge details at registration and fake parent/guardian assent to launch an account. With that sort of thing happening and federal rules being somewhat lax on the issue proving proper authorization, it is a natural progression for Facebook to explore ways to formalize its account structure for that demographic.
Consumer reports said last year about 7.5 million children under the age of 13 are using the site, with over five million that are under the age of 10. Separately, the Post referred to a Microsoft study which showed 36 percent of the parents in that age group were aware their children joined the social networking service. Most of those parents helped in creating the account.
Shares of Facebook are down about 3 percent early Monday.
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