Over the past few months, as we have been struggling to cope with the pandemic lockdown, we have turned to social media in large numbers. It has come as a way to deal with physical and social isolation. And it is starting to show up in the usage of platforms. At the end of the first quarter of this year (March 31, 2020) there were already signs of the growth in social media use.
- Facebook daily active users (DAUs)were 1.73 billion on average for March 2020, up 4.2 percent from 1.66 billion on average for December 2019.
- Snap reported that is DAUs were 229 million in Q1 2020 vs 218 million in Q4 2019, a gain of 5 percent.
- Over on Twitter, average monetizable daily active users (mDAU) were 166 million for Q1 2020 versus Average monetizable daily active users (mDAU) were 152 million for Q4 2020. That’s a gain of 9.2 percent.
Similarweb, NY-based market research, and analytics platform pointed to a growth spurt in usage and interest in TikTok and Twitter, and the usage data of both services only reaffirms their popularity during the pandemic. Twitter app downloads increased by 17.3 percent (quarter over quarter), while TikTok clocked a 14% growth rate.
Now, these single-digit gains don’t mean much — but when you put them in a larger context, you can start to see the bigger picture. “This year, US adult social network users will spend 7 more minutes per day on social networks than in 2019,” eMarketer forecasts in a report. That’s about 82 minutes per day on social networks, a significant upgrade from the previous eMarketer forecast of 76 minutes. According to the US Census, there were 199 million adults in the US between the ages of 18-to-64 million. That’s an extra 1.2 billion minutes every day or over 16.3 billion minutes a day on social platforms.
That is a lot of new monetizable inventory on social media platforms. Even against the backdrop of a tough economy, cheap, plentiful inventory and ability to target more effectively will make these social platforms an attractive advertising destination for brands. We will likely see a more complete picture when the social media platforms — Facebook, Twitter, and Snap — report their second-quarter earnings, starting next week.
July 17, 2020. San Francisco