In this article, we will take a look at the 25 biggest social media companies and platforms for advertisers. If you want to skip our detailed analysis, you can go directly to 5 Biggest Social Media Companies and Platforms for Advertisers.
What’s New with Reddit?
Reddit, Inc. (NYSE:RDDT) is a social news aggregation and content rating social media platform. People on Reddit come together to form communities with similar interests, hobbies, and passions. Reddit, Inc. (NYSE:RDDT) is home to more than 73 million daily unique users, over 267 million weekly active unique users, and more than 100,000 communities. On March 14, Reddit, Inc. (NYSE:RDDT) announced the launch of free-form ads, a new unique ad format. The ad format allows advertisers to engage with the platform as users. Advertisers can engage in megathreads via questioning, and gather the information they require for a specific product or service. They can also use the feature to update communities on the launch of products or services. These ads are open-ended, which means that advertisers have the freedom to interact with fellow users in any way that helps them extract the most crucial information. You can also look at the countries that use Reddit the most.
On March 21, Reddit, Inc. (NYSE:RDDT) announced that the company is now listed on the New York Stock Exchange with the ticker, RDDT. The offering was led by Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, J.P. Morgan, and BofA Securities as lead book-running managers. According to a Reuters media report on March 20, the company priced its IPO at $34, the upper end of its targeted range, and raised $748 million through the sale of 22 million shares. Reddit, Inc. (NYSE:RDDT) was valued at about $6.4 billion at its debut on the NYSE. As of April 12, the company is worth $6.98 billion.
Why is Pinterest Leading the Social Commerce Game?
Pinterest, Inc. (NYSE:PINS) is an image-sharing social media platform used by various customer segments. The company boasts over 498 million monthly active users. Users collectively save more than 1.5 billion Pins every week. Users typically look for their favorite products on Pinterest, 46% have discovered a new brand or product using the platform, and 61% have successfully purchased an item from a Pin. Pinterest, Inc.’s (NYSE:PINS) inclusive AI ensures that user feeds represent people of all shapes and sizes. You can also read our piece on the best social media sites for e-commerce.
On September 13, 2023, Pinterest, Inc. (NYSE:PINS) launched a new suite of product updates and ad solutions. The company introduced Premiere Spotlight on search and home feed. The premiere ad placement warrants maximum visibility. More updates by the company are Showcase and Quiz ads. Showcase ads help customers preview a brand’s content simply by swiping through images. Quiz ads on the other hand perpetuate personalization on Pinterest. These quizzes foster maximum engagement and offer customers better purchasing options. The Pinterest Business Manager is an all-in-one solution that allows businesses to manage employees, partners, and accounts.
The Role of Meta in Facilitating Advertisers Using AI
Meta Platforms, Inc. (NASDAQ:META), the tech giant, owns some major social media platforms including Instagram, Facebook, Threads, and WhatsApp. Facebook and Instagram users can create ads on posts, track performance in real-time, and automate campaigns using the Meta Business Suite. Meta Business Suite is a free platform allowing businesses to manage Instagram and Facebook together. On September 27, 2023, Meta Platforms, Inc. (NASDAQ:META) launched a new suite of AI tools to help creators and advertisers co-create and edit content. The two new features, restyle and backdrop, allow creators and brands to restyle images based on prompts. Backdrop enables creators and advertisers to alter the background of an image using simple prompts. Moreover, pictures retouched or edited using AI are highlighted to ensure transparency.
On April 10, Meta Platforms, Inc. (NASDAQ:META) announced the launch of a new AI infrastructure that boosts the ranking and enhances recommendation ad models on Instagram and Facebook. The AI infrastructure enhances the computing and memory bandwidth of the company’s AI solutions. The infrastructure is specifically designed to ensure users receive high-quality recommendations and advertisements.
Now that we have studied the position and role of some major players in the social media industry, let’s discuss the 25 biggest social media companies and platforms for advertisers. You can also look at the countries with the most social media users.
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Our Methodology
To come up with the 25 biggest social media companies and platforms for advertisers, we employed a consensus approach. We went over 10 sources including similar rankings on the internet and our own rankings. Since it was challenging to source the official user count for each platform, we sourced the total site visits of each platform in the past 28 days as of April 3, 2024, from Similarweb. Total site visits indicate how often these platforms are visited or used by people. Our list of the biggest social media companies and platforms for advertisers is in ascending order of the total site visits, as of April 3, 2024.
25 Biggest Social Media Companies and Platforms for Advertisers
25. WeChat
Total Site Visits as of April 3, 2024: 2.11 Million
WeChat ranks 25th on our list of the biggest social media companies and platforms for advertisers. The platform allows advertisers to deliver targeted messages to their customers on various important touch points.
24. Clubhouse
Total Site Visits as of April 3, 2024: 3.65 Million
Clubhouse is one of the best social media companies and platforms for advertisers. The social audio application allows people to have conversations with fellow users. This is extremely beneficial for businesses, as they can directly engage with their customers.
23. Mastodon
Total Site Visits as of April 3, 2024: 8.59 Million
With 8.59 million site visits, Mastodon ranks 23rd on our list of the biggest social media companies and platforms for advertisers. Mastodon is one of the primary avenues for advertisers wanting to explore new customer segments and markets.
22. Kuaishou
Total Site Visits as of April 3, 2024: 17.92 Million
Kuaishou is a leading social media platform that brings together social media and e-commerce. Advertisers can use the platform to create advertisements for specific audience segments based on demographic factors.
21. Viber
Total Site Visits as of April 3, 2024: 32.58 Million
Viber ranks 21st on our list of the biggest social media companies and platforms for advertisers. Viber is a messenger primarily used for secure calling and messaging. The messenger provides advertisers with multiple ad placement options. Some of the key ad formats include native, display, and video ads.
20. Skype
Total Site Visits as of April 3, 2024: 84.73 Million
Skype is a messenger commonly used for video calls. Skype ads are predominantly display ads displayed via a third-party provider. Skype has total site visits of 84.73 million, as of April 3, 2023.
19. Snapchat
Total Site Visits as of April 3, 2024: 203.7 Million
Snapchat ranks 19th on our list of social media companies and platforms for advertisers. Advertisements on Snapchat start at just $5 a day. Advertisers and marketers can set their own budget to reach to wide audience.
18. Telegram
Total Site Visits as of April 3, 2024: 303.0 Million
Telegram is one of the best social media companies and platforms for advertisers. 900 million users on Telegram generate 1 trillion views every month. This provides a great opportunity for brands to reach a wider audience.
17. Weibo
Total Site Visits as of April 3, 2024: 445.8 Million
Weibo ranks 17th on our list of the biggest social media companies and platforms for advertisers. Businesses can benefit by displaying ads on the social platform.
16. Tumblr
Total Site Visits as of April 3, 2024: 567.9 Million
With 567.9 million site visits, Tumblr ranks as one of the biggest social media companies and platforms. Tumblr allows advertisers to place ads to a targeted audience.
15. QQ
Total Site Visits as of April 3, 2024: 636.2 Million
QQ, also known as Tencent QQ, ranks 15th on our list of the biggest social media platforms and companies for advertisers. The platform displays personalized advertisements to users. Advertisers can promote their brand using pop ads.
14. Douyin
Total Site Visits as of April 3, 2024: 681.4 Million
Douyin is one of the best social media platforms and companies for advertisers. The short-form video hosting service provider is only available to users living in China. Advertisers can also post ads on Douyin in various formats such as feed and sticker ads.
13. Messenger
Total Site Visits as of April 3, 2024: 987.6 Million
Messenger ranks 13th on our list of the biggest social media companies and platforms for advertisers. Users can place ads on Instagram and Facebook that click on Messenger. These ads help businesses ignite conversations with their customers.
12. Pinterest
Total Site Visits as of April 3, 2024: 1.14 Billion
Pinterest is one of the best social media companies and platforms for advertisers. Using Pinterest ads, businesses can reach more than 400 million monthly Pinterest users. Advertisers can create ads in the Ads Manager and select the Pins they want to promote.
11. LinkedIn
Total Site Visits as of April 3, 2024: 1.71 Billion
LinkedIn ranks 11th on our list of the biggest social media companies and platforms for advertisers. LinkedIn is home to more than 1 billion users across the globe. Advertisers can use the platform to create targeted ads and campaigns for their brand audience.
10. Reddit
Total Site Visits as of April 3, 2024: 2.01 Billion
Reddit is a major hub for acquiring adequate customer insights. Reddit is home to more than 70 million unique daily active users. Reddit has more than 100,000 communities.
9. TikTok
Total Site Visits as of April 3, 2024: 2.05 Billion
TikTok is one of the best social media companies and platforms for advertisers. Businesses of all sizes can make entertaining ads on TikToks. Advertisers can also interact with other marketing partners to improve their strategy.
8. Quora
Total Site Visits as of April 3, 2024: 2.48 Billion
Quora ranks eighth on our list of social media companies or platforms for advertisers. Quora provides advertisers with a range of ad formats to showcase their brands. Quora is home to more than 400 million unique monthly visitors.
7. WhatsApp
Total Site Visits as of April 3, 2024: 2.78 Billion
WhatsApp is one of the best social media platforms for advertisers. Advertisers can create ads on the WhatsApp Business App and create ads on Instagram and Facebook that click to WhatsApp. Such enables advertisers to establish an instant connection with their audience from Instagram and Facebook.
6. Twitch
Total Site Visits as of April 3, 2024: 3.07 Billion
Twitch ranks sixth on our list of the biggest social media companies and platforms for advertisers. The live-streaming service connects brands with communities. Advertisers can place ads on Twitch, starting at one minute of ads per hour.
Click to continue reading and see the 5 Biggest Social Media Companies and Platforms for Advertisers.
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Disclaimer: None. 25 Biggest Social Media Companies and Platforms for Advertisers is originally published on Insider Monkey.