Social Media Surpasses 5 Billion Global Users
The latest Digital 2024 report by We Are Social and Meltwater reveals a staggering milestone—the number of active social media user identities has surpassed 5 billion, encompassing a remarkable 62.3 percent of the world's population. Over the past year alone, this global total surged by 266 million, reflecting an impressive annual growth of 5.6 percent.
Social Media: A Global Perspective
Breaking down regional trends, the report suggests Japan and South Korea as the nations spending the least time on social media globally. In contrast, the Philippines and Indonesia lead the Asia-Pacific region in social media usage.
In the realm of social media platforms, Instagram has claimed the throne as the world's 'favorite,' displacing last year's champion, WhatsApp. According to Digital 2024, 16.5 percent of internet users aged 16 to 64 now consider Instagram their most loved platform, edging out WhatsApp at 16.1 percent.
Time Spent and Platforms Explored
The report delves into the habits of the typical social media user, revealing an average daily usage of 2 hours and 23 minutes across 6.7 platforms each month. Notably, TikTok emerges as the leader, with Android users spending an impressive 34 hours per month on the platform. YouTube follows closely behind, with an average of just over 28 hours per month.
Key Highlights Beyond Social Media
Beyond social media, the report touches on various digital trends. The typical internet user now spends 6 hours and 40 minutes online each day, representing a marginal year-on-year increase.
Facebook, celebrating its 20th birthday on February 4, expanded its global ad reach by over 200 million in the past year, experiencing a growth rate of 10.5 percent.
LinkedIn, Snapchat, WeChat, and Pinterest also reported robust user growth, while digital ad spend saw a remarkable 10 percent year-on-year increase, reaching nearly $720 billion in 2023.
Meanwhile, social ad spend specifically rose by 9.3 percent, amounting to USD $207 billion, with a notable 17 percent surge in influencer activity investment.
The changing TV landscape and TikTok dominance
The report highlights a shift in TV consumption, with the typical internet user spending 17 minutes less per day on TV content compared to the previous year—a decline of 8.2 percent year-on-year. On TikTok, the hashtag #fyp (for your page) has garnered a staggering 55½ trillion views, solidifying its position as the platform's top hashtag.
Industry insights and future strategies
Nathan McDonald, co-founder and group chief executive at We Are Social, emphasizes the continued vitality of social media in connecting communities and shaping consumer behavior. McDonald stresses the need for brands to understand platform nuances and embrace a social-first approach.
Alexandra Saab Bjertnaes, Chief Strategy Officer at Meltwater, echoes this sentiment, highlighting the importance of understanding emerging trends as social media enters its next chapter. With over five billion users, the report underscores the necessity for marketers to craft compelling narratives that resonate authentically with their target audience amid the dynamic online landscape.
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