Which Social Media Channels are Gaining and Dropping Steam in 2024? [New Consumer and Platform Data]

As of late, it seems like everyone seems to be on social media. However make no mistake, not everyone seems to be on each channel.

As entrepreneurs, it is vital to know your viewers’s favourite social channels. As an example, in the event you’re promoting retirement properties, it is protected to forgo Snapchat, the place solely 3.7% of customers are over 50.

HubSpot surveyed over 1,400 entrepreneurs world wide discover out which social media channels are gaining steam — and that are falling behind. Learn on to find which platforms are hottest with entrepreneurs and customers in 2024.

Social Media Channels Gaining Steam in 2023

Instagram

In keeping with SimilarWeb, the Instagram app has over 1.64 billion customers, making it one of the common apps at present.

And Instagram is predicted to see extra development, and our survey outcomes present that it’s tied for first place for the best potential development in 2024 and 52% plan to extend their funding within the platform. 24% of social media entrepreneurs additionally plan to take a position essentially the most in Instagram over another platform.

Entrepreneurs’ affinity for Instagram is sensible, contemplating entrepreneurs in our survey mentioned the app yields the best engagement and the third-highest ROI of all social media platforms.

Another excuse for Instagram’s reputation amongst entrepreneurs is that the platform is main the cost in leveraging the social promoting pattern. Instagram has essentially the most developed in-app promoting instruments of any platform. Our survey reveals that, in 2024, 84% of entrepreneurs consider customers will purchase merchandise by way of social media apps greater than from a model’s web site.

Entrepreneurs aren’t the one ones utilizing the platform.

Though Gen Z visits TikTok essentially the most, they rank Instagram amongst their favourite social media apps — as do Millennials.

Instagram can be holding regular with older audiences. In the previous few months, 47% of Gen X-ers have visited Instagram, adopted by almost 1 / 4 of Child Boomers. Nevertheless, in the event you’re concentrating on these audiences particularly, Fb or YouTube could possibly be a greater possibility.

On the advertising aspect, greater than half of video entrepreneurs rank Instagram as the very best platform for ROI, engagement, and lead era. In case you’re seeking to dive extra into video advertising, Instagram is a lovely possibility.

Fb

Fb can be tied with Instagram for platforms anticipated to see essentially the most development in 2024. In keeping with our survey, 21% of social media entrepreneurs plan to take a position extra in Fb than another platform, and 53% plan to extend their funding, which is an nearly 24% change from simply 2023.

Moreover, 40% of social media entrepreneurs plan to make use of Fb for the primary time in 2024.

Fb at the moment attracts 3 billion month-to-month customers, greater than any of its rivals. A excessive focus of its viewers belongs to Gen X-ers and Child Boomers.

Within the final three months, 81% of Gen X-ers and 70% of Boomers have visited Fb. On prime of that, Gen X and Child Boomers rank Fb as their favourite social media app and most visited app. In case your audience is made up of both of these generations, Fb is your greatest wager for social media advertising campaigns that attain them.

Now to the next-youngest era — do millennials use Fb? Sure. Whereas it’s not their most visited app, it’s their favourite app.

That being mentioned, engagement drops considerably for Gen Z audiences. Simply 53% have visited Fb previously three months, and simply 13% say it’s their favourite platform.

TikTok

TikTok is named the platform for Gen Z — and the info confirms it. In truth, within the U.S. alone, greater than half of Gen Z customers are on TikTok. Plus, Gen Z-ers say TikTok is their favourite platform, pulling forward of YouTube, Instagram, and Fb.

It would not cease there: TikTok can be selecting up steam with different demographics. 30% of TikTok customers in 2024 are between 35 and 54 years previous, a 7% improve from final yr. Utilization amongst Child Boomers continues to be low, with 16% visiting the app within the final three months, however that mentioned, their utilization is steadily growing, with a 60% change in utilization since simply final yr (10% to 16%).

Whereas solely 34% of social media entrepreneurs use the platform, these utilizing TikTok are strengthening their funding in 2024 – greater than entrepreneurs on another platform. In truth, 60% of them will improve their funding in advertising on TikTok in 2024, and one other 34% will preserve investing the identical quantity.

It is also value mentioning that TikTok has the best engagement price out of another social platform, averaging 55.8 minutes per day per session. Briefly, TikTok’s snackable content material is addictive for a wide range of age teams.

YouTube

YouTube has a consumer base of two.4 billion+ individuals and receives over 34 billion month-to-month visits, in response to information we pulled from SimilarWeb.

YouTube is common with Gen Z, Millennial, and Gen X audiences in related measures. Within the final three months, 68% of Millennials have visited YouTube, adopted by 69% of Gen Z, and 65% of Gen X. For Child Boomers, YouTube is their second favourite social media app, simply behind Fb.

YouTube was additionally a prime favourite amongst video entrepreneurs, and greater than 1 / 4 of video entrepreneurs deliberate to put money into YouTube than another platform, in response to HubSpot’s Video Advertising and marketing Report. As well as, entrepreneurs mentioned YouTube supplied the best ROI in 2023.

Social Media Channels Dropping Steam in 2023

Tumblr

After quite a few acquisitions and near-revivals, Tumblr has but to recreate its early- to mid-2000s reputation. In keeping with our report, Tumblr is hottest with Millennials, however solely 13% have visited the platform previously three months.

Surprisingly, Gen Z has visited Tumblr at almost the identical price (10%). In truth, a report by Quartz discovered that 61% of latest Tumblr customers in 2022 have been beneath the age of 24. This begs an vital query: is one other revival across the nook?

Whereas it is nonetheless too early to name, I like to recommend specializing in platforms that pull stronger numbers for the viewers you need to goal and remaining experimental with those who don’t.

Twitch

Though Twitch is prime canine within the live-streaming area, all main streaming platforms — together with Twitch, Fb Gaming, and YouTube Reside — have seen a drop in complete hours watched previously few years. For instance, Fb Gaming alone noticed a -59% YoY change in hours watched.

Picture Supply

23% of Millennials, adopted by solely 12% of Gen Z, and 9% of Gen X have visited Twitch previously three months.

When is the very best time to put up on social media?

Whereas social media platforms will proceed to fall out and in of favor with customers and entrepreneurs, one factor stays fixed — timing is every part. Irrespective of which platform you select to put money into, it’s important to know the very best time to put up to spice up your model’s visibility.

To remain on prime of a posting schedule, social media entrepreneurs advised us that they use a social media schedule or calendar after they put up content material (72%). Instruments like HubSpot’s Social Media Administration Software program can successfully enable you to craft and execute the fitting social media scheduling technique; nonetheless, figuring out when to put up will enable you to enhance engagement.

For instance, social media entrepreneurs working in Japanese Commonplace Time reported 6-9 p.m. as the very best time to put up.

Then again, entrepreneurs in Pacific Commonplace Time mentioned 3-6 p.m. yielded the very best outcomes.

Nevertheless, crucial recommendation I can provide on the very best time to put up is that it is dependent upon your viewers and after they’re essentially the most energetic on social media. For instance, in case your viewers is essentially the most on-line after work hours, you’re posting for nobody in the event you share most of your content material within the early morning.

• Fb: 12-3 p.m., 6-9 p.m., and 9am-12 p.m.
• YouTube: 6-9 p.m., 12-3 p.m., and 3-6 pm.
• X (previously Twitter): 12-3 p.m., 6-9 p.m., and 3-6 p.m.
• Instagram: 12-3 p.m., 6-9 p.m., and 3-6 p.m.
• LinkedIn: 3-6 p.m., 9 am-12 p.m., and 12-3 p.m.
• TikTok: 6-9 p.m., 3-6 p.m., and 12-3 p.m.

Moreover, entrepreneurs say Saturday and Friday (respectively) are the very best days to put up throughout social media platforms.

Again to You

One query stays: what channels are greatest on your social media advertising? Do you have to stick with mature platforms, like Fb and YouTube, or take a look at the waters with new platforms, like TikTok?

In the end, your choice ought to hinge on one essential issue: your audience. Placing your viewers on the middle of your social media technique means prioritizing the platforms that may attain them most successfully.

And keep in mind, social media advertising is all about experimenting. There is no have to commit to at least one platform for the remainder of time — in reality, it might be helpful to run aspect experiments on completely different platforms to see what outcomes you get.