49% of Consumers Regularly Buy Products Endorsed By Influencers
49%
The search from Sprout Social reveals that 35% of Gen Z prioritize authenticity from influencers, while 49% of consumers make regular purchases recommended by influencers. Trust in influencers is increasing, with 30% trusting them more than six months ago, but 47% maintaining their trust levels. However, Instagram remains the top platform for influencer engagement, but preferences differ by age, with Gen Z favoring TikTok and older generations preferring Facebook.
229%
Amazon's diverse revenue streams, including third-party services, advertising, subscriptions, and cloud services, saw significant growth in Q1. The retail sales remain unchanged, while other sectors soared. Third-party seller services rose by 16% to $34.6 billion, advertising services by 24% to $11.8 billion, and subscriptions by 11% to $10.7 billion. The net income surged by 229% to $10.4 billion and Amazon's retail arm appears to play second fiddle to its more profitable ventures, particularly AWS.
15%
Alphabet's Q1 revenue surged by 15% YOY to $80.54 billion, surpassing analyst forecasts. Advertising revenues totaled $61.66 billion, with Google's largest segment, Search and others, growing by 14% to $46.16 billion, and YouTube showing a robust 21% increase to $8.09 billion. CEO Sundar Pichai emphasized the company's focus on "Gemini era," leveraging generative AI to remain competitive in evolving sectors like search.
61%
Companies are integrating genAI into various facets of their social strategies and workflows, yielding benefits in content creation as demand surges. 61% of companies stated that reduced workload is the primary reason for using AI in social media, genAI assists social teams in working more efficiently. Notably, 54% of marketing leaders utilize genAI for social content creation, with 51% finding it most useful for crafting social media posts, particularly for text editing 86% and ad text creation 85%.
51%
According to October 2023 Pew Research Center data, 51% of US teens and parents believe teens spend an appropriate amount of time on smartphones, while 64% feel the right amount of time spent on social media. The US adults aged 18 to 24 dedicate the most time to TikTok, Snapchat, and Instagram. At the same time, YouTube remains the top choice for teens. However, TikTok, Snapchat, and Instagram also rank highly, with social media use primarily centered around entertainment and connection.
500 M
Pinterest reached a milestone with over 500 million monthly active users in Q1, marking a 12% YOY increase, the highest growth since 2021. Revenue surged by 23% YoY to $740 million, exceeding analyst expectations, with an impressive 19% YoY growth in average revenues per user (ARPU) in the critical US and Canada markets. Despite robust global user growth, the US and Canada saw a modest 3% increase in MAUs, while expenses rose by 9% YoY to $630.1 million, emphasizing the need for cost management.
22 M
A HarrisX survey suggests Netflix's ad-supported tier in the US boasts up to 22 million subscribers, ranking second after the ad-free "Standard" plan. While Netflix saw a surge in ad-supported memberships, with a 65% increase in Q1 2024, the company will cease reporting subscription figures in earnings reports starting from 2025.