Data's a big deal in digital marketing, right? We know stats aren't the most exciting thing, but they're essential for crafting a solid social media strategy. They guide you on where to invest your resources and which social media platforms to prioritize.With this in mind, we've compiled the latest social media statistics that every marketer should know to enhance their strategies in 2024. These insights offer a clearer picture of the social media landscape. So, take a moment to dive in and discover more:

Key metrics

In 2024, the digital world is witnessing an unprecedented number of social media users. The number of active social media users has risen to over 5.7 billion in 2024, a significant increase from 4.89 billion in 2023, which is about 61% of the global population. Some platforms are breaking records. Like TikTok, which became the most downloaded app globally, surpassing Facebook and Instagram: over 3.5 billion people have downloaded TikTok.

But not every platform is having its moment in the sun. X/Twitter might lose around 32 million users this year, according to DemandSage.

We've got to talk about AI! The AI in Social Media Market is estimated to hit USD 2.10 billion in 2024, and it's expected to reach USD 7.25 billion by 2029.

Social media usage around the world

The global reach of social media continues to expand, bridging distances and cultures. Here's what you need to know about social media usage trends worldwide in 2024:According to the Datareportal global overview, more than half of the world now uses social media(61.4%). Pretty impressive, right? However, this usage isn't evenly spread across the globe.

Take China, for instance, leading the pack with a whopping 1.02 billion social media users. Below, you'll find a list of the top 10 countries with the most social media users:

When it comes to social media penetration (the number of social media accounts in a country by its total population), the United Arab Emirates is at the top with a 105.6% penetration rate. This high number might be due to duplicate and "fake" accounts. South Korea and Hong Kong are also high up on the list.

In contrast, Eritrea and Turkmenistan sit at the bottom, with minimal social media penetration rates of 0.2% and 2%, respectively.According to Zorbis, regionally, North America has the highest social media usage, followed by South America and Europe. Asia, Africa, and the Middle East have lower usage on average.

Social media demographics

Who's using what? Demographics play a crucial role in targeting the right audience. So let’s dive into some important stats:

Users globally spend about 2 hours and 24 minutes daily on social media.

Over 75% of 18-29 year olds report using social media. This percentage declines steadily with age, with only around 40% of those 65+ using social media. Millennials and Gen Z, who are the most active on social media, have an average of 8.5 accounts each.Regarding gender demographics in social media, it turns out 53.6% of users are men, and 46.4% are women. However, this varies by region - check out this chart for a closer look:

Top social media platforms

With an array of platforms available, knowing where to invest your time and resources is key. Here’s a glimpse into the top social media platforms by active monthly users:

Facebook remains the largest platform globally, with over 2 billion monthly active users. YouTube stands as one of the largest online video platforms globally.

Instagram, though popular among the younger demographic, faces a decline in Gen Z users, while TikTok's explosive growth continues, particularly among Gen Z​​​.While LinkedIn may have fewer monthly active users, it has emerged as a key player in B2B marketing, with 96% of B2B marketers choosing it as its go-to platform for professional content.

What social media users expect from brands

Social media has become the linchpin in the relationship between consumers and brands. That’s why understanding user expectations is crucial for brand success on social media. Brand discovery: 24% of consumers aged 18-54 use social search more often than traditional search engines, a number that rises to 36% among Gen Z​. Also, a significant portion of social media users, especially Gen Z, prefer discovering new products through influencers. Rapid Response Expectations: A whopping 79% of consumers expect brands to respond to their social media messages within 24 hours.

Authentic Engagement: Users seek genuine connections, with 64% expecting brands to forge authentic relationships with their consumers.

Social Responsibility: 72% of consumers want brands to be positive contributors to society, emphasizing the importance of corporate social responsibility.

Social media advertising

In 2023, the social media ad spend was approximately 270 billion U.S. dollars, with expectations to surpass the 300-billion-dollar mark by 2024. That’s pretty impressive, right?

Source: Agency Analytics

According to Growth Devil, Instagram generated $50.58 billion in ad revenue in 2023. And it is set to increase by 17.9% from 2023 to 2024. Internal data shows that 50% of users become more interested in a brand after they see an ad for it on Instagram.
After seeing an ad on TikTok, viewers trust the brand 41% more and are 31% more likely to be loyal to the brand.

Absolutely no doubt about it – social media ads are a major player in brands' strategies for paid traffic.But not all platforms are raking in ad revenue. Ads on X/Twitter are declining, with advertisers leaving the platform. Gupta Media's data shows the average CPM dropped from $1.75 in January to $1.27 in December.

Conclusion

There you go, a roundup of the latest social media statistics to guide your marketing decisions. As these platforms evolve, expect 2024 to bring even more groundbreaking innovations and surprising statistics. One thing's for sure: social media isn't going anywhere – it's only getting bigger. Stay tuned for even more cool insights coming your way!

To learn more about how Edgar can help you optimize your social media marketing strategies, request a demo today. Get ready to sail ahead of the competition!