Facebook continues to lose appeal among teens as Instagram surges: Survey

Teenagers continue to lose interest in Facebook, but are showing an increasing interest in picture-sharing site Instagram, a new survey has found.

The conclusion was drawn in a semi-annual survey of upper-income and average-income teens in the United States from the investment bank and asset management firm.

Piper Jaffray's spring 2014 report Taking Stock With Teens surveyed around 5,000 teens, and surveyed them on a range of topics, which include fashion, video games, Apple products and social networks, CNET reports.

Piper Jaffray senior analyst and managing director Gene Munster said that they found Instagram was taking the mantle for the most preferred social teen site.

Nearly 30% of surveyed teens chose Instagram as their most important social network, making it the top social property for youngsters for the first time in the history of the survey.

Munster said that the changes over the last six months showed that teens interest level in Facebook went from 27% to 23%, Twitter 31% to 27%, and Instagram 27% to 30%.

Just one year ago, Facebook was the preferred social network for roughly 33% of teens.