30 Social Media Statistics You Need To Know In 2024
Social Media Penetration Worldwide
Almost half (48.3%) of the world’s population are active social network users in 2024. This staggering statistic from Insider Intelligence highlights the immense reach and influence of social media in today’s digital age.
Social Media Advertising Expenditure
When it comes to social media advertising budgets, businesses typically allocate $200 to $350 per day—equating to a monthly expenditure of $6,000 to $10,500, and an annual investment ranging from $72,000 to $126,000, as reported by evolvemedia. Such substantial investments underscore the pivotal role of social media in modern marketing strategies.
Device and Brand-wise Social Media Usage
When it comes to accessing social media, the usage is diversely distributed. As per Statcounter, the device-wise usage of social media breaks down as follows: Mobile devices dominate with 54.46 percent, followed by Desktop usage at 43.67 percent, and Tablet users accounting for 1.88 percent.
Statcounter also provides insights into brand-wise social media usage, with Apple leading the way at 28.52 percent, followed by Samsung at 24.15 percent, Xiaomi at 11.1 percent, Unknown sources at 7.73 percent, Oppo at 5.85 percent, and Vivo at 5.38 percent.
Customer Expectations on Social Media Response Times
Customer expectations on social media response times are high. A survey cited in Marketing Dive reveals that 40% of consumers anticipate brands to respond within the first hour of reaching out on social platforms. Furthermore, a staggering 79% expect a response within 24 hours.
Notably, different industries exhibit varying response rates, with real estate and legal leading the way at 29%, followed closely by recruiting and staffing, finance and banking, and healthcare.
Rising Importance of Listening in Social Media Marketing
Listening is gaining prominence in the social media marketing landscape. SocialMedia Today reports that 63% of social media marketers believe that listening to their audience will become increasingly important in the coming year. This highlights the shift towards more customer-centric strategies.
Prioritizing Speed in Customer Engagement
When it comes to customer preferences, speed matters. A significant 75% of customer survey respondents prioritize fast responses from brands. This desire for swift engagement underscores the importance of real-time interaction in maintaining a positive brand image, as revealed by XBusiness.
Twitter's Messaging Preference
Twitter users, in particular, show a preference for messaging over calling. A substantial 64% of customers on Twitter would rather message a dedicated support handle than initiate a phone call. This preference reflects the evolving dynamics of customer service in the digital age
Social Media's Role in Brand Discovery and Research
Social media also plays a vital role in brand discovery and research. Among internet users aged 16 to 64, 26.8% discover brands, products, and services through social media ads, according to SearchEngineJournal. Additionally, 44% of these users turn to social media as their primary source of information when researching brands.
For a global perspective, the number of internet and social media users continues to rise. The most recent statistics, obtained from Statista, indicate substantial worldwide user figures as of April 2024.
Global Internet and Social Media User Growth
Instagram Stories advertising revenue is a significant driver of social media revenue. According to Statista, the net revenue from Instagram Stories advertising has been on the rise globally from 2019 to 2024, reflecting the platform’s effectiveness for advertisers.
Social media users are diverse and dispersed worldwide. Detailed country-wise statistics, also sourced from Statista, provide insights into the geographical distribution of social media users, further emphasizing the platform’s global reach.
Global Social Media Demographics
Recent research, as cited by Oberlo, reveals that global consumers aged 20 to 29 constitute the largest user group of social media, making up nearly one-third (31.8%) of all users worldwide. Interestingly, the majority within this age group are male, accounting for 17.5% of all social media users, while female users aged 20 to 29 comprise 14.3%.
The second-largest age group on social media is 30 to 39, representing 21.9% of all users. Similar to the younger demographic, males dominate this group, with 12.1% of all social media users being males aged 30 to 39, compared to 9.8% of females in the same age range.
Average Number of Social Media Accounts
According to the Global Web Index, the average number of social media accounts for millennials and Gen Z-ers worldwide stands at 8.4 accounts, a significant increase of 75% from the 4.8 accounts reported in 2014.
This study, encompassing 46 countries with internet users aged 16 to 64, also reveals regional variations, with Japan having the lowest average of 3.8 accounts per person and India topping the list at 11.5 accounts per person
Social Media Usage Trends
Globally, 60% of the world’s population is actively engaged in social media, with an average daily usage of 2 hours and 24 minutes as of April 2023
In Q1 of 2023, the average click-through rate (CTR) for social media ads registered at 1.2%, showing a slight decline from the previous quarter.
The number of social media users continues to grow significantly, with 150 million new users joining between April 2022 and April 2023, marking a 3.2% year-over-year increase. This equates to approximately 410,000 new social users every day and a staggering 4.7 new users every second.
Future Projections
TikTok Dominance
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Snapchat's Growth
In 2022, Snap Inc recorded an impressive annual revenue of approximately 4.6 billion U.S. dollars, marking steady growth compared to the 4.1 billion U.S. dollars in 2021. Snapchat, the popular mobile app developed by Snap Inc, boasts 375 million daily active users as of the fourth quarter of 2022 (Source – Statista).
The Reach of Meta's Core Products
In the second quarter of 2023, Meta reported a substantial user base of 3.88 billion people actively engaging with at least one of the company’s core products, which include Facebook, WhatsApp, Instagram, or Messenger.
This represented a slight increase in monthly active users (MAU) compared to the previous quarter and an impressive year-over-year MAU growth of approximately six percent
Social Media for Learning
Surprisingly, a study cited by The Week indicates that only 1 percent of university students utilize social media for educational purposes. This statistic highlights the untapped potential of social platforms in facilitating learning among today’s students.
Online College Student Media Consumption
Both undergraduate and graduate online college students are actively engaged in media streaming. According to Fierce, they most often stream media on platforms using a premium, ad-free subscription.
However, YouTube remains a popular choice for free, ad-supported streaming, with 50 percent of respondents reporting its frequent use. These students exhibit a high frequency of daily media streaming, with 73 percent using YouTube daily, almost 70 percent tuning in on Spotify, and nearly 60 percent streaming daily content on Netflix.
Social Media in Education
Nearly 59 percent of schools acknowledge that their students actively use social media for educational purposes, as reported by Ed Tech Review. This reflects the increasing integration of social media as a tool for learning and communication in educational institutions.
Social Media and Mental Health
Research published by the American Psychological Association reveals that reducing social media use by 50% for just a few weeks can lead to significant improvements in how teens and young adults feel about their weight and overall appearance compared to their peers who maintain consistent social media use.
Mental health is an evolving concern, with factors such as social media usage, isolation, and loneliness being linked to its deterioration. However, it’s essential to note that other factors like family history and experiences with other health conditions can also contribute to mental health issues
Final Thoughts
We hope that at some point, these metrics have increased your understanding of social media. There are many insights and different reports that have put forward these metrics. Locobuzz analytics is one such feature of a complete customer experience platform.
With Loocbuzz analytics, research your business, competition and any topic that you what to deep dive into. If you wish to, schedule a demo to understand the process better.
