Key Takeaways:
Engagement per user increased on several of the top social media apps: Facebook and Instagram both saw gains in user time spent as 1Q23 mobile users logged nearly 1.30bn and 935mn hours/day on Facebook (+12% YoY, +2% QoQ) and Instagram (+16% YoY, +9% QoQ), respectively. TikTok users logged 1.14bn hours (+2% YoY, flat QoQ), vs 116mn on Snapchat (+2% YoY, flat QoQ), and 99mn on Twitter (-6% YoY,-5% QoQ)
User growth on social media apps has continued to decelerate from pandemic-fueled highs in 2020 and 2021: Per ST data, Snapchat was the sole social media app to post double-digit YoY growth in users as DAUs accelerated 13% YoY in 1Q23 (vs 15% in 1Q22) compared to +5% on Instagram (vs +18% in 1Q22), +4% on TikTok (vs +43% in 1Q22), and +1% on Facebook (vs +4% in 1Q22). Twitter was the only social media app to see user growth trend completely down vs 1Q22 as DAUs fell 3% YoY in 1Q23 (vs +11% in 1Q22)
TikTok continues to grow its presence with US advertisers: per Pathmatics advertising data, 9/10 top categories of US advertisers on TikTok spent more on the platform in 1Q23 vs 1Q22, increasing ad spend by a collective average of 46% YoY
Twitter continued to experience significant headwinds that afflicted user growth, engagement, and monetization during the quarter: Twitter DAUs, user hours engaged per day, and US advertiser spend across six out of the top ten categories from 1Q22 all fell YoY
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