Social media is incredibly popular in modern society. An astounding 79% of Americans have some form of social media. Social media was brought into the world with the creation of Facebook in 2004 by Mark Zuckerberg and others. Ever since then, new social media such as Twitter and Instagram have emerged. Enter the market of social media.
Facebook is the most popular social media in America with 166.14 million monthly users. It is meant to connect users together by allowing them to "add as friends." Facebook earns 86% of its revenue from advertising. Companies realize the power that social media holds and have cashed in on the massive audience.
Twitter is the third most popular social media in America, hosting 67.18 million monthly users. This social media platform was founded by Jack Dorsey in March 2006. Since 2006, Twitter has grown to be massive, with much help from celebrity participation. Twitter allows users to "follow" others. When one user follows another, the followed user's tweets appear on the timeline of the user who followed them. Twitter also earns the large part (86%) of its revenue from advertising.
Instagram is the runner-up for most popular social media platform in the U.S. with 114.43 million users per month. Instagram is focused around pictures and videos, allowing users to post content onto their profiles (which will then appear on the feed of their followers) and on their stories. When content is posted on a user's story, it is available for 24 hours before being automatically deleted. Instagram does not release detailed revenue statistics, but they earned $6.84 billion in ad revenue in 2018.