In 2023, the social media landscape experienced wide-spread change. Twitter became X. Meta launched its own text-focused app, Threads, which gained 100 million users in less than a week. Platforms experimented with monetization strategies for API access, account verification, ad-free experiences and even security features like two-factor authentication. TikTok faced scrutiny, plus local and national attempts to ban the app in the United States.
The way consumers used social media channels also shifted. Last year’s next-big-platform BeReal waned in popularity, even among its early adopters in Gen Z. Instead, Gen Z bolstered growth for Pinterest. TikTok proved it wasn’t just for “kids” — Gen X joined TikTok in droves, with the AARP close behind them, successfully targeting older users on the platform.
Though we cannot predict exactly what 2024 will have in store, we can certainly make a few educated guesses. This report examines five key social media shifts for marketers to consider in planning for the year ahead.