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Some of my clients are concerned that the younger audience is abandoning Facebook for other platforms like Snapchat and Instagram. While those platforms are growing, Facebook still has significant reach with the 18-34 year old crowd. In a recent paper, Comscore provides the data (Cross Platform Study 2016) In fact - take a look at this chart:
Facebook is still reaching almost all people 18-34, who are spending significant amount of time - vs the other platforms. Taking a look at the 35+ demographics, we see a similar trend:
So if you are a business owner spending money and time on Facebook and Facebook ads to promote your business - rest assured - your money is being well spent to reach both young and older demographics. In fact, young people spend more time on Facebook than the 35+ audience- over 35 minutes a day. If you were looking for additional channels, I would focus on Instagram and Twitter, and for a more challenging marketing experience, Snapchat.