The latest Digital 2024 report, a collaborative effort between We Are Social and Meltwater, provides a comprehensive overview of the global social media and digital trends. The standout finding from the report is the monumental achievement of surpassing 5 billion active global social media user identities, constituting an impressive 62.3% of the world’s population, this substantial increase of 266 million users over the past year reflects an annual growth rate of 5.6%.
Global Social Media Users Trend
Talking about user behavior, the report reveals that the typical social media user now dedicates 2 hours and 23 minutes daily to their chosen platforms. TikTok emerges as a frontrunner, boasting the highest average time per Android user globally, with an astounding 34 hours per month. YouTube secures the second position, capturing user attention for just over 28 hours each month. Instagram claims the mantle of the world’s ‘favorite’ social platform, overtaking last year’s winner, WhatsApp.
A document spanning 550+ pages, Digital 2024 offers insights across the entire online ecosystem, encompassing social media, smart devices, gaming, and social commerce. Noteworthy trends include a marginal 1% year-on-year increase in the daily online time of the typical internet user, reaching 6 hours and 40 minutes. Facebook, celebrating its 20th birthday, witnessed a remarkable 10.5% growth in global ad reach, adding over 200 million users in the past 12 months.
Digital 2024’s deep analysis of TikTok hashtags reveals that those tagged with #fyp (for your page) garnered an astonishing 55½ trillion views, highlighting TikTok’s influence. The report emphasizes the ever-evolving nature of social media, where platforms like TikTok reshape online behaviors. Nathan McDonald, co-founder and group chief executive at We Are Social, stresses the importance of understanding platform nuances for marketers to connect in culturally relevant ways, emphasizing the growing significance of a ‘social-first’ approach.
The Growth of Digital Media Platforms
LinkedIn, Snapchat, WeChat, and Pinterest report robust user growth, emphasizing the dynamic nature of the digital landscape. Instagram has dethroned WhatsApp as the ‘favorite’ social platform, with 16.5% of internet users between 16 and 64 considering it their most loved platform, while WhatsApp secures a close second with 16.1%. The report provides an analysis, highlighting the changing preferences and behaviors of the diverse online audience.
Digital ad spending witnessed a 10% year-on-year increase, reaching nearly $720 billion, with social ad spending specifically rising by 9.3% to USD 207 billion, also, influencer activities experienced a surge of 17%, reflecting the evolving strategies employed by brands. Concurrently, the report notes a decline in TV content consumption, with the typical internet user spending 17 minutes less per day compared to the previous year, marking an 8.2% year-on-year decrease
Alexandra Saab Bjertnæs, Chief Strategy Officer at Meltwater, emphasized the need for brands to grasp evolving preferences, using the rich data provided to shape compelling narratives that engage audiences with precision and authenticity. The report encapsulates a transformative era in digital communication, heralding new challenges and opportunities for brands navigating the ever-expanding landscape of social media.
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