Last year has witnessed a surge in the number of social media users, with billions of people spending more time than ever on Facebook, Instagram, and YouTube amid the lockdowns. However, the world’s largest social media platforms continued their growth in 2021 with no signs of stopping in the years to come.
According to data presented by StockApps, the combined number of Facebook, YouTube, and Instagram users, as the three most popular social media platforms globally, is expected to hit 5.7 billion this year. The increasing trend is set to continue in the following years, with the number of users growing by another 800 million to 6.5 billion in 2023.
340 Million New Facebook Users in Three Years
As the leading social media app worldwide, Facebook has witnessed a remarkable growth of its user base. In 2019, the popular social media platform had over 2.1 billion million active users, revealed the Statista Key Market Indicators data. After the pandemic struck and millions of people started spending more time indoors and online, the number of Facebook users rose to nearly 2.3 billion. This figure is expected to hit 2.4 billion in 2021. By 2023, the number of people using Facebook is forecast to hit 2.63 billion, a 340 million increase in three years.
The Statista data showed Asia is the region with the biggest Facebook audience worldwide. In 2021, there were over 1.1 billion Facebook users across all Asian markets, and this figure is projected to grow to 1.24 billion in 2023. The Americas and Europe follow, with 665 million and 385 million users as of this year.
However, the world’s second-largest social media platform, YouTube, witnessed even more impressive growth. Last year, around 2.1 billion people worldwide had been using YouTube. India accounted for the biggest share of that number, with 373 million users in 2020. The United States and Brazil followed with 205 million and 145 million users, respectively.
Statista data indicated the number of people using YouTube is set to jump to 2.24 billion in 2021 and continue growing to 2.56 billion in 2023, a 15% increase in two years.
Instagram Witnessed the Biggest User Growth
Although Facebook and YouTube convincingly lead in the number of users, Instagram, as the third most popular social media platform in 2021, is the most rapidly evolving.
Instagram’s user growth has been consistent and doesn’t show any signs of slowing down. Last year, the photo and video-sharing social networking app hit 926 million users, an impressive 140 million increase in a year. Also, according to Sensor Tower data, Instagram was among the top five most downloaded apps in both the App Store and via Google Play last year.
In 2021, Instagram`s user base is forecast to hit over one billion for the first time, a massive milestone that was seemingly only reserved for social media giants like Facebook. By 2023, the number of people using Instagram is expected to grow by another 23% and hit 1.3 billion worldwide.
Elon Musk Envisions X as the Future of Your Financial Life
Tech visionary Elon Musk unveiled his vision for X, aiming to transform it into the epicenter of people’s financial worlds by the end of 2024.
Musk’s plan transcends mere payment solutions, targeting nothing short of the complete financial ecosystem, including money and securities. “You won’t need a bank account,” he affirmed.
X, led by CEO Linda Yaccarino, sees this as an ambitious opportunity that could reshape the financial landscape as we know it.
Musk expressed his unwavering commitment to the cause, stating, “It would blow my mind if we don’t have that rolled out by the end of next year.”
This ambition traces back to Musk’s dot-com-era online bank, X.com, which later evolved into PayPal. Musk aims to take a page from his earlier playbook, hoping to outshine PayPal with a more comprehensive approach.
The platform’s offerings are set to include high-yield money market accounts, debit cards, checks, and loan services. Musk’s endgame? An ecosystem that empowers users to send money worldwide instantly and in real-time.
However, this transformation is not without its challenges. Elon Musk must convince users of the necessity of such an all-encompassing platform while gaining their trust with their financial lives.
The vision of X as an “everything app” resonates with the rise of super apps like WeChat in China, which provide users with access to a myriad of services, from shopping to transportation.
As X positions itself to revolutionize the financial industry, Musk’s audacious endeavor promises to change the way we handle money, potentially eliminating the need for traditional banking as we know it.
The world watches with bated breath to see if Musk’s bold vision will become a reality.
WhatsApp Introduces Dual Account Feature, Enabling Users to Sign Into Two Accounts
WhatsApp has introduced a groundbreaking innovation that promises to redefine the user experience.
This new feature allows individuals to simultaneously manage two WhatsApp accounts on a single device, eliminating the need for dual phones.
The eagerly anticipated announcement was made by Mark Zuckerberg, Facebook’s CEO, who assured Android users that this feature will soon grace their screens.
Gone are the days of juggling multiple WhatsApp accounts, a task that often required carrying two separate devices. While tech giants like Xiaomi and Oppo had previously introduced app cloning features for multiple WhatsApp instances, WhatsApp’s integrated approach sets a new standard for seamlessness.
This innovation is poised to be a game-changer for users who navigate both personal and professional realms on this ubiquitous messaging platform.
Cumbersome login-and-logout routines and the perpetual concern of messaging from the wrong account will soon be a thing of the past, replaced by a newfound ease of multitasking.
Activating this feature is a straightforward process. Users need only navigate to the ‘Settings’ menu and select ‘Add Account.’ During setup, a second phone with a SIM card or a device supporting eSIM technology is required to unlock the full potential of multi-SIM functionality.
WhatsApp ensures that each account can have its own customized notification and privacy settings, preserving data integrity and personalization.
In addition to the dual account feature, WhatsApp recently introduced passkey support for Android, enhancing security by providing an alternative to SMS-based two-factor authentication.
This latest advancement underscores WhatsApp’s dedication to user convenience, connectivity, and digital identity security, setting the stage for a more organized and efficient way of communication.
X Takes on Bots: New Zealand and Philippines Users Pay $1 Subscription
U.S. Crude Production Hits Another Record, Posing Challenges for OPEC
Nigerian Stock Market Loses N259 Billion Amidst Medium-Cap Company Declines
Falcon Corporation Secures N19.41bn Debt Facility for State-of-the-Art LPG Facility in Port Harcourt
Finance4 weeks ago
Black Market Exchange Rate Today 6th November 2023
Business3 weeks ago
Nigeria’s Logistics Sector Holds Untapped N3tn Potential, Says Courier and Logistics Management Institute
Black Market Rate3 weeks ago
Black Market Exchange Rate Today 14th November 2023
News3 weeks ago
Millionaire Powerplay Limited Unveils Unprecedented Odds in American Lotto’s Instant Cashless Payout
News4 weeks ago
N-Power Batch C1 Programme Successfully Concluded, Investigation Ensures Eligible Beneficiaries Receive Payments
Black Market Rate4 weeks ago
Black Market Exchange Rate Today 9th November 2023
Forex3 weeks ago
Black Market Exchange Rate Today 16th November 2023
Forex4 weeks ago
Black Market Exchange Rate Today 10th November 2023