Daniel Slotta
Research expert covering Greater China
Social media - statistics & facts
Social media’s reach is far and wide. The usage of online networks is expanding along with the global digital population, proving that social media and the internet go hand in hand. Platforms were once seen as online spaces for socializing but are now utilized for matters of business, dating, politics, and daily communication.
Behind popular social media platforms lie massive companies generating billions of dollars. In 2023, Meta Platforms, which owns Facebook, Instagram, and WhatsApp, generated over 134 billion U.S. dollars in annual revenue. In comparison, business and job-seeking service LinkedIn, owned by Microsoft, made around 15 billion USD in the last financial year.
As of early 2024, Facebook reported a year-on-year audience growth of 3.1 percent, demonstrating that the social media giant is still pulling in users, albeit at a slower rate than other market leaders such as Instagram, X (formerly Twitter) and Snapchat.
Although often associated with influencers and lifestyle content, Instagram users are generally looking for much more variation from the platform, with funny and creative content being at the top of their list in 2023. Additionally, 41 percent of users said they enjoyed seeing informative content on Instagram. Hashtags are a way for online users to follow topics, and #love, #instagood, and #instagram are the most used hashtags of all time.
TikTok has become synonymous with Gen Z for good reason; 36 percent of global TikTok users are aged between 18 and 24 years, clearly showing the desire for quick-fire personalized content with a mobile-first design. With just over 1.5 billion monthly active users, TikTok cannot quite compete with Facebook and Instagram’s audience sizes at the moment, but being the social media platform of choice for a whole generation should bode well for the app.
The ongoing expansion of social media usage coincides with that of the digital population. Despite the general dominance of Facebook for the foreseeable future, it is possible that TikTok could take the lead, given the preference of young audiences for app-first platforms and unlimited, tailored content.
Big audiences and even bigger businesses
In 2023, there were around five billion social media users worldwide, with over one billion users in China alone, and over 860 million in India. Additionally, the United States had 308 million social networking users in 2023. Europe was home to approximately 680 million users, while the smallest audiences were found in Central Africa and Central America.Behind popular social media platforms lie massive companies generating billions of dollars. In 2023, Meta Platforms, which owns Facebook, Instagram, and WhatsApp, generated over 134 billion U.S. dollars in annual revenue. In comparison, business and job-seeking service LinkedIn, owned by Microsoft, made around 15 billion USD in the last financial year.
Is there competition for Facebook?
Facebook celebrated its 20th birthday in February 2024, and with over three billion monthly active users as of April of the same year, it is the most used social network worldwide. Around 30 percent of global Facebook users are aged between 25 and 34 years, and almost a quarter are aged between 18 and 24 years, dispelling the myth that Facebook is a platform for older generations.As of early 2024, Facebook reported a year-on-year audience growth of 3.1 percent, demonstrating that the social media giant is still pulling in users, albeit at a slower rate than other market leaders such as Instagram, X (formerly Twitter) and Snapchat.
Instagram-friendly content
Instagram had two billion monthly active users as of April 2024, meaning that the mobile-first network ranks higher than TikTok and Snapchat in terms of audience size. The app attracts a young audience, with almost 32 percent belonging to the 18 to 24 age group.Although often associated with influencers and lifestyle content, Instagram users are generally looking for much more variation from the platform, with funny and creative content being at the top of their list in 2023. Additionally, 41 percent of users said they enjoyed seeing informative content on Instagram. Hashtags are a way for online users to follow topics, and #love, #instagood, and #instagram are the most used hashtags of all time.
TikTok: young social media users are hooked
TikTok is highly popular with Generation Z and allows users to create, edit, and share short-form video clips, enhancing them with filters and music. In the fourth quarter of 2023, TikTok generated around 232 million downloads from users around the world.TikTok has become synonymous with Gen Z for good reason; 36 percent of global TikTok users are aged between 18 and 24 years, clearly showing the desire for quick-fire personalized content with a mobile-first design. With just over 1.5 billion monthly active users, TikTok cannot quite compete with Facebook and Instagram’s audience sizes at the moment, but being the social media platform of choice for a whole generation should bode well for the app.
Social media as a marketing tool
The United States is the leading worldwide market for social media advertising, with a total expenditure of 72.3 billion US dollars in 2023, followed by China and the United Kingdom, with 71 billion and 9.7 billion US dollars, respectively. As of January 2023, Facebook was the platform most used among marketers, with 89 percent of global marketers reporting using Facebook. Moreover, 86 percent of industry professionals said that increased exposure was the leading benefit of using social media as a marketing tool, while 76 percent stated that increased traffic was the biggest advantage.The ongoing expansion of social media usage coincides with that of the digital population. Despite the general dominance of Facebook for the foreseeable future, it is possible that TikTok could take the lead, given the preference of young audiences for app-first platforms and unlimited, tailored content.
