Is this the post-social era? The state of the social platform user in 2024

The social marketplace is mature, with available consumer time having peaked and new growth for platforms coming at others’ expense. New platforms are emerging but remain small, while the biggest platforms, like Facebook, are seeing losses to their overall share of daily active user penetration compared to 2020. 

Platforms compete less based on features, however; audiences use different platforms for their personalised algorithms, which differ on each. As a result, overlap in use of ‘competitive’ platforms is high. Nearly half of YouTube Shorts weekly active users (WAUs) also use TikTok weekly, and more than half of Reels WAUs also use TikTok weekly. 

Underpinning all of this is an emerging trend of digital overwhelm. Two thirds of audiences have attempted to reduce their screen time in the last month, with more than a quarter choosing to delete certain apps to do so, and a little more than a fifth choosing physical or in-person alternatives to digital consumption. 

This is likely related to the increasingly entertainment-centric time demands of social platforms, especially social video. While social video time share is high, most users primarily choose to engage with social platforms for purely social reasons, like talking to or keeping up with friends. 

Nevertheless, the entertainment-centric focus and growing creator economy offer opportunities for social platforms. There is some audience willingness to pay for social, although there is little consensus on which types of features are worth their money. The most prominent, however, is upgraded creator tools or editing capabilities, especially among younger users. 

The resulting picture is a market which is mature, but still has much opportunity left for growth and change, especially with the growing trend of creative, engaged consumption. 

MIDiA clients can dive into the data behind these trends in our latest report, “Social platform user behaviour, Q1 2024”. If you are not a subscriber and would like access, please get in touch at enquiries@midiaresearch.com.