Social media has seeped into virtually all aspects of modern life. The vast social media universe collectively now holds 3.8 billion users, representing roughly 50% of the global population.
With an additional billion internet users projected to come online in the coming years, it’s possible that the social media universe could expand even further.
How the Networks Stack Up
To begin, let’s take a look at how social networks compare in terms of monthly active users (MAUs)—an industry metric widely used to gauge the success of these platforms.
Rank | Social Network | MAUs In Millions | Country of Origin |
---|---|---|---|
#1 | 2,603 | ?? U.S. | |
#2 | 2,000 | ?? U.S. | |
#3 | YouTube | 2,000 | ?? U.S. |
#4 | Messenger | 1,300 | ?? U.S. |
#5 | 1,203 | ?? China | |
#6 | 1,082 | ?? U.S. | |
#7 | TikTok | 800 | ?? China |
#8 | 694 | ?? China | |
#9 | 550 | ?? China | |
#10 | Qzone | 517 | ?? China |
#11 | 430 | ?? U.S. | |
#12 | Telegram | 400 | ?? Russia |
#13 | Snapchat | 397 | ?? U.S. |
#14 | 367 | ?? U.S. | |
#15 | 326 | ?? U.S. | |
#16 | 310 | ?? U.S. | |
#17 | Viber | 260 | ?? Japan |
#18 | Line | 187 | ?? Japan |
#19 | YY | 157 | ?? China |
#20 | Twitch | 140 | ?? U.S. |
#21 | Vkontakte | 100 | ?? Russia |
Here’s a closer look at individual social platforms, and their trials and tribulations:
To put it mildly, Facebook has had its hands full. A flurry of companies are boycotting Facebook’s ads, while the platform struggles to fend off the spread of misinformation.
Yet, its stock price continues to advance to new highs while the traditional economy faces less than rosy forecasts. Facebook still possesses the largest cohort of users, inching closer to the 3 billion MAU mark—a breakthrough yet to be achieved by any company.
Snapchat
Snapchat and founder Evan Spiegel have had a bumpy road since their IPO in 2017. The stock price reached its nadir near $4 in 2018, reflecting investor concerns tied to the introduction of Instagram Stories. In recent times, the stock has advanced past the $20 mark, although there is still long-term unclarity around monetization and profitability.
YouTube
YouTube competes head on against traditional television and streaming programs for eyeballs. The platform raked in revenues of $15.1 billion in 2019, nearly double their figures in 2017.
Parent company Alphabet has invested in YouTube with new rollouts like YouTube Music (merged with what was once Google Music) and YouTube Premium—a bundled subscription-based platform providing music, ad-free content, and YouTube Originals. By the looks of it, the future of YouTube will be much more than just videos.
The biggest social platform in China, WeChat has flourished, now holding a whopping 1.2 billion MAUs. As part of the Tencent Holdings conglomerate, they belong to the BATX group that is seen to lock horns with America’s Big Tech.
There have been whispers of a Reddit IPO on Wall Street for some time now. While such an event has not yet materialized, Reddit’s success certainly has. With 430 million MAUs relative to 330 million in 2018, the company continues to attract a larger audience. The notion of community has taken on a different meaning in the digital age, and Reddit represents this transition with their ever-growing network of users.
Instagram has been vital to Facebook’s success, since its $1 billion acquisition in 2012. The platform attracts a younger audience compared to Facebook and it has demonstrated an ability to remain versatile, specifically by implementing Instagram Stories and Reels.
Busy schedules don’t seem to faze Jack Dorsey who has not one, but two CEO jobs in Twitter and Square. Twitter has been able to achieve profitability in the last two years, reporting net income figures of $1.2 and $1.5 billion in 2018 and 2019 respectively. They no doubt have their work cut out for them as they continue to combat fake news and similar controversies on their platform….
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