Social media companies still growing despite privacy concerns
Friday February 15, 2019. 03:55 PM , from Mac Minute
It seems counter-intuitive given all the negative media concerning privacy matters with social media platforms, but industry research sources project enormous growth for the sector as the companies “will continue to find ways to monetize.”
The January 2019 report from IBISWorld continues: “Since going mainstream over a decade ago, hundreds of millions of Americans have embraced social networking websites; from Facebook and Twitter to LinkedIn and dozens more, people use these networks maintain relationships with friends, follow the news and share photos and videos. By leveraging user data for targeted advertisements, where the supermajority of revenue is derived, operators in the Social Networking Sites industry have been able to capitalize on the popularity of their platforms.”
Active tech and social media companies in the markets this week include: Findit, Facebook, Twitter, Snap, and Microsoft.
Over the five years to 2018, the industry has surged at an annualized rate of 36.0% to $34.0 billion, including a 17.5% rise in 2018 alone. The report says:”Growing advertising spending and (growing) disposable income will benefit the industry.”It added that the industry is trending up! “Over the past five years, the Social Networking Sites industry has grown by 29.1% to reach revenue of $40bn in 2019. In the same timeframe, the number of businesses has grown by 4.9% and the number of employees has grown by 31.1%.”
According to latest figures on YahooFINANCE, impressive market caps in the Social Media space includes: Facebook, which is currently sitting over a $473 billion market cap; Twitter, over a $22 billion market cap; and Snap, over a $11 billion dollar market cap.
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