Hate it or Love it, Social’s still on top

As the industry moves boldly into the second quarter of the year (and more tentatively out of the Covid-19 pandemic), we were treated to media research galore last week with the publication of a number of new studies: our love-hate relationship with social media continues, Amazon goes from strength-to-strength not only in ecommerce but also in advertising, and there are signs too that new global players – not to mention new media monetisation models – are beginning to enter the arena. So join us this week for a data-driven expedition around some of the key artefacts of the modern media landscape… 

7 in 10 US adults use social media: A new study from the Pew Research Centre has shown that roughly seven-in-ten Americans use some kind of social media site – a share that has remained relatively stable over the past five years.

Shein’s time to shine: But we can dig deeper still, as last week investment bank Piper Sandler released the results of its 41st semi-annual Taking Stock With Teens® survey in partnership with DECA. The sample is made up of 7,000 teens across 47 US states with an average age of 16.1yrs. Snapchat was found to be the preferred social media platform of this demographic (31% share), followed by TikTok (30%) and Instagram (24%), which interestingly is beginning to lose share.

Amazon’s advertising business grew 53% last year: One of the reasons Amazon is unlikely to be looking back over its own shoulder in the ecommerce industry, is that it is too busy chasing down rivals in front of it in the digital advertising space. New research released by eMarketer last week showed that the company’s advertising business grew by 53% last year.

NFTs: New Fangled Technology: Another area of the digital ecosystem that has nudged its way into the media headlines this year is NTFs: Non-fungible tokens. Loosely speaking, an NFT is a unit of blockchain data and importantly, a unique one. These tokens can embody anything digital, but this new-fangled form of fashionable technology is currently making waves in – yep, you’ve guessed it – the art world.

You can read the article in full on the FIPP website here.