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Reddit is gaining in popularity in terms of the daily time users spend on that platform, while the average daily time spent on other popular social media networks is dwindling, according to recent findings by digital market research company eMarketer.
eMarketer’s latest forecast found that among social media networks, Reddit has seen the greatest growth in terms of daily average time spent by active U.S. users. The community site, which went public earlier this year, will see users spend 11 percent more of their time on that platform this year than in 2023, eMarketer predicts.
According to eMarketer, daily time spent by Reddit users will average 31 minutes in 2024, up from 28 minutes last year.
Meta’s photo-sharing site Instagram is also anticipated to become more popular in 2024, with users increasing their average daily time on that platform by 1.3 percent compared to last year.
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The outlook isn’t as sunny for other platforms, according to the report. Meta’s flagship platform Facebook, which still dominates the social media landscape in terms of monthly active users, has seen user growth slip in recent years and will also see average user time dip by about -1.2 percent in 2024. Surprisingly, eMarketer predicts that wildly popular short-form video platform TikTok will also see a slowdown in daily user activity this year, as that site is expected to witness a -1.2 percent slip in average time spent per day compared to 2023.
X (formerly Twitter), which has suffered a litany of problems since Elon Musk’s 2022 takeover, is expected to similarly experience a -3.8 percent decline in user time. Messaging app Snapchat will see its user time decline by about -4.5 percent, according to eMarketer’s predictions.
eMarketer predicts that Reddit’s U.S. ad revenue will grow by 28 percent this year to account for about $741 million.
Reddit claimed about 73 million daily active users in 2023’s fourth quarter, an increase of 27 percent from its Q4 2022 daily active user count of 57.5 million, according to findings by Backlinko.
Estimates for eMarketer’s June 2024 forecast were based on an analysis of estimates from other research firms, consumer media consumption trends, device adoption trends, company reports, primary research and interviews.
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