2023 Outlook: Where is Social Media Heading?

The landscape of social media is always changing—but in the coming months, it may be changing more dramatically than we have seen in quite some time.

Now more than ever, it's essential for social media marketers to stay ahead of the curve. That’s why we were excited to get our hands on a recent report from eMarketer that offers valuable insights into where social media is heading in 2023 and beyond.

Now that our team has nerded out on it, we'll share some of our key takeaways from the “Worldwide Social Media Outlook 2023” report and examine what they mean for social media marketing.

TL;DR: Anticipate many changes!

Opportunity in Chaos

The subtitle of the report sums up the main idea: “From Crisis and Chaos to New Opportunities.”

By sharing the eMarketer’s unique data trends and insights in the context of major “chaos” in the social media industry last year—such as the turmoil at Twitter, Meta’s uncertain bet on the metaverse, the continued rise of TikTok and its geopolitical implications—the report offers tips on how social media marketers can leverage this moment to seize unique opportunities for success.

“2022 was a year of crisis for social media in the US, but 2023 will be a year of recovery and new beginnings.”
— eMarketer

So: what, exactly, does that mean?

In a nutshell: social media companies are going to be dealing with shifting demographics, preparing for uncertain regulation that could have an immense impact on their businesses, as well as reacting to the hype of new startups that are certain to be emerging in the coming months.

Likewise, all of this change will create some chaos for marketers—but for those who can read the tea leaves, you also have a chance to make the most of the shifting landscape by seizing the day!

Here are some of the opportunities that might help you carpe the diem:

  • Seize opportunities to reach more people in new ways – New apps will emerge, including companies hoping to cater to the unique desires of Gen Z or to capitalize on those seeking an alternative to Twitter. The legacy apps will respond to pressure by creating new ad formats and other technologies. All of that will add up to a wide range of opportunities to reach new people in more ways than ever before. Those who can find creative ways to leverage this smorgasbord of options could see major success.

  • Have a TikTok backup plan – There’s no telling whether or not a full “TikTok ban” will ever come to fruition, but it’s likely a good bet that “some type of anti-TikTok measure will make serious headway.” So, it’s in brands’ best interests to view the platform with scrutiny and to be ready to shift tactics. Risk-averse advertisers will need to be especially careful. Keep in mind that apps such as BeReal, Gass, Fizz, and others we may not know yet (not to mention Meta) will stand to gain if TikTok (which the report calls “the first true Gen Z app”) is suddenly unavailable in the US.

  • Twitter, too – If Twitter cannot right the ship, apps such as LinkedIn, Reddit, and perhaps others will be poised to benefit. The report dismisses the Mastodon app’s current hype (“[it] will die down”) but advises readers to expect additional Twitter alternatives to emerge.

More Key Stats

Given the company’s focus on data, the report is heavy on interesting statistics and trend projections. Here are a few that stood out:

  • Gen Z will make up almost one-quarter of US social users. For the first time, the “zillennials” will outnumber Gen X in terms of monthly social media users in the states. Their oldest members turn 26 this year, and their growing influence will continue to transform the social media landscape.

  • TikTok’s US user base will be “almost five times the population of Florida.” In other words, there will be over 100 million monthly US TikTok users in 2023.

  • Meta’s ad business will return to growth this year. Following the company’s first-ever revenue decline in 2022, there are reasons to be optimistic—especially because Gen Z hasn’t entirely given up on Instagram. (Yet?)

  • By 2024, Twitter’s user base will be the smallest it’s been in a decade. Given Elon Musk’s focus on revenue growth over user growth (as well as continued technical issues and increasing offensive content), the report predicts that Twitter will lose ~8 million monthly US users between 2022 and 2024.

  • Reddit will have more US monthly users than Twitter in 2024. As opposed to Twitter, Reddit is working to address content moderation concerns and is investing in attracting both users and advertisers.

  • More than one-quarter of US adults now use LinkedIn. Recent tech layoffs have contributed to the increasing adoption of job seekers, as well as the company’s growing focus on news content—which may appeal to ex-Twitter users looking for a new home.

Why it Matters

As social media continues to evolve, it's critical to keep up with the latest trends and insights. Understanding where social media is headed in 2023 and beyond can help you develop strategies that better resonate with your audiences and drive engagement.

How can you leverage the insights above to anticipate upcoming changes and take advantage of new opportunities?

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Social Media UpdatesMatthew Dooley