Facebook's admission that teen users are accessing the site less often was an about-face for the social network, but marketers have "been watching teen flight from Facebook for some time," Cotton Delo writes. Still, advertisers and researchers say the social network has significant reach with millennials -- and that can't be easily replaced. "Find me a better network. You take half of what Facebook has, and it's still more than anyone else has," said Dave Peck, PayPal's social media lead.

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