Still room for growth
Turns out some would. From TikTok which launched in 2017 (post-merger with Musical.ly) to Houseparty which became a household name during the initial days of the global lockdown in 2020, social networks are now catering to niche interests, content or demographics.
A typical internet user, who has more than 8 social media accounts on average, is now looking for bespoke, more tailored experiences that are in line with his/her preferences. Furthermore, ‘veteran’ social media users are not only looking to use the platforms to engage with friends, family or professionals but also for monetising their creative skills as part of the so-called Passion Economy.