Ok so it’s getting a bit crazy now. Social media users have passed the 5 billion mark (5.04 billion to be exact), which is 62% of the world’s population. A jump of about 265 million over the past year helped push us over the top. Let’s look at some more stats now when it comes to social media:

• The average social media user now spends 2 hours and 23 minutes per day on their social platforms of choice.
• The average user uses 6.7 platforms each month.
• TikTok has the highest average time per user of any social platform globally, clocking in at an impressive 34 hours per month.
• YouTube is in second place with the average user spending just over 28 hours per month on the app.
• In terms of favourites, that crown goes to Instagram: 16.5% of internet users between the ages of 16 and 64 consider Instagram their most loved platform.
• Digital ad spend grew by 10% year-on-year, with almost $720 billion spent in 2023. Social ad spend increased by 9.3% to USD $207 billion, and investment in influencer activities increased by 17%.

So there you have it. Everyone is on social – a lot. Are you marketing on the necessary social channels to reach your target audience?