Dear Amigos,
As many of you already know, We Are Social, along with Meltwalter and other esteemed partners, has recently released an exceptional digital trend report for 2024. This report thoroughly analyzes all digital aspects of the previous year, highlighting an extraordinary year for “all things digital”.
This report is packed with news, trends, and remarkable data, offering an in-depth analysis of the digital landscape. This will come in handy in your discussions with clients and the creation of digital campaigns. We’ve extracted 10 key insights specifically focusing on social media trends for 2024 from the report. Here is the full report:
10 Key Insights for social media this 2024:
1. Hashtag Power
Videos tagged with the immensely popular #fyp hashtag on TikTok have gathered a staggering 55 trillion combined views, Instagram’s #LOVE more than 2 Billions. But should you use these hashtags? Are they effective? It depends on your strategy. Conducting tests doesn’t hurt! Make sure to thoroughly research the niche and purpose connected to each of these hashtags.
2. TikTok, King of User Engagement
Data from Data AI reveals that TikTok has emerged as the clear leader among social media apps in terms of average time per user. Users spend an average of 34 hours per month on the platform, surpassing even YouTube.
3. LinkedIn reaches 1 Billion Registered Members
LinkedIn’s user base has crossed the monumental 1 billion mark, showcasing substantial year-on-year growth and expanding opportunities for marketers.
4. Digital Dominates Advertising Spend
Digital advertising now accounts for a significant portion of global ad spend, with investments continuing to rise, particularly in social media ads. Statistics show that global marketers invested almost USD $720 billion in digital advertisements during 2023.
5. Instagram Claims the Throne
Even though TikTok boasts more hours spent per month, Instagram remains the most beloved among users. The social platform has surpassed WhatsApp as the world’s favorite channel, with its popularity among working-age users steadily increasing.
6. Who is watching Traditional TV? Less and less people everyday, but streaming?
Traditional television viewing has seen a decline, while streaming continues to gain traction, now constituting a substantial portion of daily TV consumption. Nevertheless the curve is not rising. Recent data from GWI reveals a notable shift in viewing habits, indicating a decrease in TV consumption despite increased internet usage. The Q3 2023 research shows a significant 17-minute daily decline in TV viewing compared to the previous year, reflecting an 8.2 percent decrease. This decline encompasses various forms of TV content, including broadcast, cable, and streaming.
7. People spend more and more time online everyday
According to recent data from GWI, the average social media user now spends 2 hours and 23 minutes daily on these platforms, marking a slight decrease from the previous year (maybe because the COVID crise ended, the curve stopped growing?). Nevertheless is a lot, and marks a huge opportunity to all of us working in the digital realm.
8. TikTok’s Growing Ad Audience:
TikTok’s ad reach is rapidly approaching that of Instagram, signaling its emergence as a formidable player in the advertising landscape.
9. Increased Internet Usage
Contrary to previous trends, daily internet use has seen a slight uptick, with users spending more time online, reflecting the growing significance of the digital realm in our lives.
10. The Impressive Growth of Social Media Users
Perhaps the most striking revelation is the exponential rise in social media users, surpassing the 5 billion mark. Social media is not dead, on the contrary.
That wraps up our top 10 takeaways from the 2024 Global Digital Overview Report regarding social media. This is just the tip of the iceberg, make sure to go through this report that is very valuable for all of us creators. data is power, power is data. Thank you to all the talented people that has work so hard to gather this data.
See you soon Amigos!
Yours truly,
Camila Curiel
