Social media also ranked third in terms of time spent, accounting for 3:14 daily, on average. This is no surprise, given the amount of social networking that takes place on mobile. It’s also relevant that GlobalWebIndex includes YouTube in its list of social media platforms; that likely increases penetration and time spent with the medium.
When US consumers started spending more time at home in March and April, they also started using social media more, providing an unexpected boost to the platforms. That increased engagement continued into May.
Dorsey’s digital payment platform Square is working on a platform that lets developers create DeFi solutions on the Bitcoin blockchain. Though no details are known yet, we could expect these solutions to be accessible via Twitter. The bigger picture: Twitter isn’t the only social media company looking at adding cryptos to encourage user engagement and facilitate payments on their platforms.
Our complete estimates for US social network users by platform, age, and other breakdowns can be found in this report’s accompanying spreadsheet. No. 2: Time Spent on Social Networks Will Remain Elevated. The unusual growth in the number of social network users won’t last in 2021, but the amount of time users spent on social networks will remain well above 2019 levels.