By 2024, Instagram is Expected to Overtake TikTok in Popularity Among Generation Z.
53%
Despite the global recovery from the pandemic, social media engagement continues to surge, with 53% of consumers reporting increased usage over the last two years, compared to the previous two years. 68% use social media primarily to stay informed about new products and services. The survey was conducted online from 1,817 consumers located in the U.S. and the U.K.
92%
An August survey by SurveyMonkey found that 92% of local marketing and SEO professionals globally were actively experimenting with ChatGPT in their work during July 2023. Looking ahead, our forecast predicts that 58.0% of US generative AI users will utilize this technology for work in 2023, and this figure is expected to increase to 70.6% by 2025.
10%
According to Google Ads executive Jerry Dischler, the company occasionally increases auction prices by 5% to 10% without prior notification. Advertisers feels that these prices are higher and 15% increase would be considered "risky" and might lead advertisers to seek alternatives among competitors.
77%
Gen Zers allocate the majority of their daily screen time to TikTok, Instagram, and Snapchat. In 2023, the average daily usage for the 18 to 24 age group in the US will be 58 minutes on TikTok, 38 minutes on Instagram, and 30 minutes on Snapchat. Instagram is projected to surpass TikTok in penetration by 2024, and Meta's platform is expected to slightly overtake TikTok in the coming year, with Gen Z user numbers continuing to rise through 2027.
5 M
Snap has seen significant growth in its Snapchat+ subscriber base, adding over 2 million subscribers since April, reaching a total of more than 5 million. Snapchat+ costs $3.99 monthly and has proven to be a successful diversification strategy for Snap, expanding its revenue streams beyond advertising.
$1.02
According to a June forecast, by 2025, US adults are projected to spend more time on TikTok than on Facebook, signifying TikTok's ascent to becoming the leading social platform in total daily minutes by that year. However, Facebook will continue to dominate ad revenues, with over five times more earnings per person per hour spent on the platform, as it's estimated to generate $1.02 per person per hour, compared to TikTok's $0.19.
23.7 M
Meta's Threads messaging app is facing challenges in attracting new users compared to its strong debut in July. It currently ranks among the least popular social media platforms in terms of U.S. users, trailing behind only Tumblr, according to Insider Intelligence's latest Threads forecast. In 2023, Threads is projected to have 23.7 million U.S. users, significantly lagging behind Facebook, Instagram, and TikTok, which boast 177.9 million, 135.2 million, and 102.3 million users, respectively. Its closest competitor, X, is expected to have 56.1 million U.S. users in 2023, leaving Threads with less than half of X's U.S. user base.