You might be surprised to learn which social media networks seem to be leading the fan industry.
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Although social network usage has consolidated in recent years, the infographic by Visual Capitalist is nonetheless startling. As you’ll see, the present social media environment is controlled by one major player plus two minor players, while everyone else is lagging far behind them.
As you would expect, Meta (previously Facebook) has over 3 times the number of users as Alphabet (YouTube) and Tencent, with over 7.5 billion monthly active users. Really no company even comes close.
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The chart contains some relevant data points — Every day, users are spending approximately 2.5 hours per day browsing social media. And 38,000 hours of video content are posted on YouTube every hour, which is mind-boggling. Regardless of how many views you have, you are still a droplet inside this YouTube bucket.
It wasn’t long time ago when 50 million monthly active users signalled the arrival of a platform. To be considered a small player on the global scale, you now need to have roughly 150 million users. Nonetheless, social networks have such a lifespan that appears to be strongly tied to the ages of its members. Each generation has a favorite, and as users become older, most spend lesser time online generally or quit the network entirely.
We’ve clearly seen this with the past platforms such as Myspace and Friendster, but now we’re seeing a few of the titans such as Instagram, Skype, Twitter, and Facebook level out.
Generally, this is due to a newly developed platform stealing marketshare, but it may also be due to user fatigue.
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Whereas TikTok is the latest bright and flashy network that has captured adolescents all over the world, one would have to question what will happen when they get older and also have increasingly busy life. Furthermore, several governments are already pressuring the platforms with outside regulation or outright banning as a possible consequence of the alleged harmful impacts on teenage psychology which is already unstable in the absence of outside assistance
The upcoming year will be a watershed moment in the social media world, so expect major changes in the graph when we reflect back at the conclusion of the year.