Social Media Updates: Global Social Media Users Surpass 5 Billion Mark

As the world continues to embrace the digital era, social media’s impact on everyday life, business, and communication has never been more profound. The recently released Digital 2024 report, published by the creative agency We Are Social and social media intelligence specialist Meltwater, offers an in-depth look at the ever-evolving digital landscape. This annual report reveals a wide array of key milestones and trends, focusing on the increasing role of social media in our lives, the platforms that dominate, and the future directions in digital engagement.

One of the report’s most staggering revelations is that the number of active social media user identities worldwide has surpassed the 5 billion mark, equating to 62.3% of the global population. This represents an increase of 266 million users over the last year alone, reflecting an annual growth of 5.6%. These numbers highlight the unprecedented reach and influence of social media, as more than half of the world’s population is now actively engaged in digital conversations, content creation, and social commerce.

Social Media Time: How Are Users Engaging?

With social media occupying a central role in people’s daily lives, the typical user now spends 2 hours and 23 minutes per day on social platforms, utilizing an average of 6.7 platforms each month. This widespread usage underlines the importance of social media as an essential channel for entertainment, information, and social interaction.

One platform that continues to dominate user engagement is TikTok. Boasting the highest average usage time per Android user worldwide, TikTok users spend an astounding 34 hours per month on the platform, which is equivalent to over an hour per day. This reinforces TikTok’s appeal as a hub for viral content, short-form videos, and user-generated trends. Closely following TikTok is YouTube, with users spending just over 28 hours per month on the platform’s Android app.

These statistics offer marketers and brands a clear signal: consumers are gravitating toward highly visual and interactive platforms that prioritize video content. As people spend more time on these platforms, brands have a golden opportunity to connect with their audiences in authentic and engaging ways.

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Instagram’s Ascent: The Most Loved Social Platform of 2024

In a surprising shift from last year’s favorite, WhatsApp, Instagram has now taken the crown as the world’s ‘favorite’ social media platform in 2024. According to the report, 16.5% of internet users between the ages of 16 and 64 consider Instagram to be their most-loved platform, while WhatsApp has been pushed to second place with 16.1%. Instagram’s rise to the top can be attributed to its continuous innovation, including new features that facilitate social commerce, interactive content like Reels, and its ability to foster personal connections through stories and direct messaging.

Instagram’s growing popularity demonstrates the platform’s versatility, offering a perfect blend of personal sharing, brand storytelling, and commerce opportunities. For businesses, Instagram remains a top destination to showcase products, engage with followers, and leverage influencer partnerships to boost brand awareness.

Social Media Updates: Insights from the Digital 2024 Report

Digital 2024 is a comprehensive 550+ page report that dives into data from across the entire online ecosystem. From social media to smart devices, gaming, and social commerce, this report provides critical insights into how people interact with the digital world.What you can anaylze from the report include:

• Daily Time Spent Online: The typical internet user now spends 6 hours and 40 minutes online each day, an increase of 3 minutes per day compared to the previous year. This slight rise (1% year-on-year) indicates that internet usage continues to climb, driven by the expansion of social platforms, streaming services, and digital entertainment.
• Facebook’s Ad Reach: As Facebook prepares to celebrate its 20th birthday in February 2024, it remains a powerhouse in the digital space. Over the past 12 months, Facebook’s global ad reach grew by more than 200 million users, representing a 10.5% year-on-year increase. This sustained growth underscores Facebook’s resilience and adaptability, particularly as a platform for community engagement and advertising.
• Digital Advertising: Digital advertising continues to flourish, with total ad spend growing by 10% year-on-year. Nearly $720 billion was spent on digital ads in 2023, with social media ad spend alone increasing by 9.3%, reaching $207 billion. The report also highlights a growing investment in influencer marketing, which surged by 17%. For brands, influencer partnerships present a powerful way to build trust and reach niche audiences in a more personal, authentic manner.
• Shifting Media Habits: Interestingly, the report also notes a shift in media consumption habits, with users spending 17 minutes less per day watching TV content than they did a year ago—a decline of 8.2%. This trend suggests that traditional TV may be losing ground to digital entertainment sources, including streaming platforms and user-generated content on social media.

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The Influence of TikTok and Its #FYP Power

One of the standout elements of Digital 2024 is TikTok’s dominance in hashtag usage. TikToks tagged with #fyp (For You Page) have amassed a staggering 55.5 trillion views, making it the platform’s top-performing hashtag. This reveals the power of TikTok’s algorithm in driving viral content, as users rely on the #fyp tag to surface their videos to a broader audience. For marketers, understanding TikTok’s algorithm and hashtag dynamics is key to maximizing reach and engagement on the platform.

Dogs vs. Cats: The Social Media Rivalry Continues

In an unexpected and playful battle, dogs have emerged victorious over cats in the ongoing internet debate. Dog-related content outstripped feline content across both Instagram and TikTok, with 376 million dog-related posts on Instagram compared to 290 million cat posts. Similarly, TikTok saw 575 billion views for dog-tagged content compared to 502 billion views for cat-tagged content. This fun rivalry speaks to the enduring appeal of pet-related content and its ability to captivate and engage audiences online.

Key Takeaways for Marketers

The Digital 2024 report emphasizes the importance of understanding social media usage patterns and platform preferences to stay relevant in an increasingly crowded digital space. Nathan McDonald, co-founder and group CEO at We Are Social, underscores the need for brands to adopt a social-first mindset, recognizing the nuances of different platforms and how to connect with audiences in culturally relevant ways. TikTok’s rise, in particular, has revolutionized how people behave online, with short-form, interactive content driving much of the engagement.

Similarly, Alexandra Saab Bjertnæs, chief strategy officer at Meltwater, notes the importance of tracking emerging trends and understanding the platform preferences of target audiences. As social media continues to evolve, brands must craft compelling, authentic narratives that resonate with users across a diverse range of platforms, from Instagram to LinkedIn.

The Digital 2024 report serves as a critical resource for marketers, business leaders, and social media professionals looking to navigate the rapidly changing digital landscape. With more than 5 billion active social media users worldwide, the opportunities for engagement, growth, and innovation have never been greater. As brands continue to shape their social media strategies for the future, understanding platform trends and user behaviors will be crucial in building meaningful connections and driving business success.