More than 97% of all Fortune 500 companies rely on social media, says Entrepreneur. In addition, there are more than 3.78 billion social media users all over the world, they added, a 5% increase year over year. From here, those numbers are only expected to improve.
Look at the growth of TikTok for example. According to Social Media Today, people are spending more time using that platform than they are on Facebook. “TikTok’s average monthly time spent per user grew faster than nearly every other app analyzed, including 70% in the US and 80% in the UK – surpassing Facebook. TikTok is on track to hit 1.2 billion active users in 2021,” as noted by an App Annie report, as also highlighted by Social Media Today.
Right now, according to Oberlo, TikTok has 689 million global users, and has been downloaded over two billion times on the App Store and Google Play. In short, social media growth is only accelerating with no clear signs of slowing.