2022 was a year of crisis for social media in the US, but 2023 will be a year of recovery and new beginnings. The social audience remains massive: This year, for the first time, roughly two-thirds of the US population will use a social network at least monthly, per our estimates. But the landscape will become increasingly fragmented, driven both by Gen Z and turmoil at the established social platforms. Gen Z will make up almost one-quarter of US social users. In another first, there will be more Gen Z than Gen X monthly social users in the US in 2023. To put it another way, there are now almost 20 million more US Gen Z social users than there were in 2018, when ByteDance merged Musical.ly with TikTok and the app started to take off in the US. As Gen Z grows up (the oldest members will turn 26 this year), their social media preferences and habits will transform the US social landscape. Meta remains massive, but its dominance is waning. Meta’s ad business will return to growth this year, after its first-ever revenue decline in 2022. Meanwhile, Meta’s US monthly user base (excluding WhatsApp, Messenger, and Oculus/Reality […]
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