“Social media is not just an activity; it is an investment of valuable time and resources.” Almost 57 percent of the global population today are social media users. That equates to 9 out of 10 people who are using the Internet. Recently, App Annie, the leading global provider of mobile data analytics published the latest report on The Evolution of Social Media Apps. Let’s take a look at it!
The latest report on The Evolution of Social Media Apps is divided into five sections. These are:
- What is the Scale of the Social Media Mobile Market?
- The Rise of Live Streaming – How are Streamers Driving Growth?
- How Has the Social Landscape Evolved Over Time by Markets?
- How Have Consumers’ Favorite Apps Changed Over Time?
- How is the Creator Economy Pivotal to Social Growth?
- Today, there are already 74 billion recorded social app downloads. 4.7 billion of those downloads happened in 2021. With a cumulative spend of $3.2 billion during the first half of this year, the scale of the social media mobile market is up by a 50% year-over-year growth.
- Live Streaming has outpaced photo and video social apps. It is the number one driver of engagement among consumers today. During the first half of 2021, social apps with live streaming as their main function accounted for $3 out of $4 online spending. As such, live Shopping has been a significant focus on Facebook, Instagram, and TikTok nowadays.
- Consumer’s favorite apps have also changed over time. Facebook now ranks in the 3rd spot of the most downloaded social apps in the first half of 2021. TikTok and Instagram took the 1st and 2nd spot respectively.
- The global leaders of social growth today are augmented reality, live streaming, and videos. The user base of Twitch, a live streaming platform doubles up during the COVID-19 pandemic. As creators are making more money on live steaming, they have also fueled the growth of Bigo Live.
The latest report on The Evolution of Social Media Apps was published last 06 September 2021.
Implications for Marketers:
It is worth looking at the latest report on The Evolution of Social Media Apps for marketers. It can give them a broader view of how people use social apps and the latest marketing trends.