Meltwater, a global leader in media, social, and consumer intelligence, along with We Are Social, the socially-led creative agency, has unveiled Digital 2024, their latest annual report on social media and digital trends worldwide.
Amid a year marked by significant digital milestones, Digital 2024 reveals that active social media user identities have surpassed the five billion mark, reaching 5.04 billion, which accounts for 62.3 percent of the world’s population.
This global total saw an increase of 266 million over the past year, marking an annual growth rate of 5.6 percent.
On average, a typical social media user now spends two hours and 23 minutes per day on their preferred platforms and utilises 6.7 platforms monthly.
TikTok stands out with the highest average time per Android user globally, boasting an impressive 34 hours per month, equivalent to over an hour per day. Following closely is YouTube, with the average user spending slightly over 28 hours per month on its Android app.
Instagram has emerged as the world’s ‘favorite’ social platform, surpassing last year’s winner, WhatsApp. Digital 2024 reveals that 16.5 percent of internet users aged 16 to 64 consider Instagram their most beloved platform, nudging WhatsApp into second place with 16.1 percent.
Covering a comprehensive range of data points across the online ecosystem, Digital 2024 spans from social media to smart devices, gaming to social commerce. Some notable highlights from the report include:
- The typical internet user now spends 6 hours and 40 minutes online daily, reflecting a marginal increase of 3 minutes per day or 1 percent year-on-year.
- Facebook, celebrating its 20th birthday on 4th February, expanded its global ad reach by over 200 million in the past 12 months, marking a year-on-year growth of 10.5 percent.
LinkedIn, Snapchat, WeChat, and Pinterest all witnessed robust user growth year-on-year.
- Digital ad spend surged by 10 percent year-on-year, with nearly US$720 billion invested in digital ads in 2023. Social ad spend saw a 9.3 percent increase to US$207 billion, while investment in influencer activities rose by 17 percent.
- The typical internet user now spends 17 minutes less per day watching TV content compared to the previous year, marking an 8.2 percent decline year-on-year.
In a detailed analysis of TikTok hashtags, Digital 2024 reveals that TikToks tagged with #fyp (for your page) have garnered a staggering total of 55½ trillion views, establishing it as the platform’s top hashtag.
Commenting on the findings, Alexandra Saab Bjertnæs, chief strategy officer at Meltwater, emphasised the importance of understanding usage patterns and emerging trends amidst the expansive social media landscape.
Nathan McDonald, co-founder and group chief executive at We Are Social, underscored the evolving nature of social media behavior and the necessity for brands to adapt their strategies accordingly to effectively engage with audiences.