Maybe it’s the security issues that Facebook has experienced in the past several years or people are just getting tired of arguing online, but the Media Outlook 2020 study by Activate Consulting states Facebook usage is declining.
According to Fast Company, users spent an average of 14 hours per month on Facebook in 2017 compared to nine in 2019.
Additionally, the study suggests that a smaller base of consumers, called “Super Users,” make up a majority of social media users who spend the most time posting and using these platforms. These users only represent about 23 percent of the population and spend twice as much time on social media per month as other users, according to the report. Super users are also more likely to purchase celebrity-created products at a rate of 4.6-times the amount of other users.
Activate Technology & Media Outlook 2020
Super Users typically spend close to 5.5 hours per day watching video, 2.9 hours listening to music, 2.1 hours gaming and 1.4 hours listening to podcasts per day. These Super Users are “younger, more affluent, and more educated,” according to the report.
“This year, we decided to not only focus this Outlook on the year ahead, but also to take a look back at previous predictions and how they shaped the latest and greatest trends, including the boom in AI, betting, and gaming,” said Michael J. Wolf, Activate CEO and Co-Founder. “The forecasts shared today will profoundly impact technology and media industries as we approach 2020 and beyond.”
The report predicts that as far as social media business, significant growth globally for internet and media revenue will come in the next year. Activate Consulting states internet and media businesses will likely add “$300 billion in growth dollars.”
“Subscriptions will continue to be the key growth driver for consumer spending,” the report states.
Additionally, Activate Consulting predicts eCommerce will double its growth by 2023 to reach more than $6 trillion.
“The forces propelling this growth will include faster and broader delivery options, major social media platforms functioning as digital storefronts, and renting and resale,” Activate Consulting said in a press release. “Winners in eCommerce will shrink the divide between digital and physical across the consumer journey.”
Another prediction Activate Consulting has is that video gaming will continue to dominate as the fastest-growing media “reaching more than $170 billion by 2023.”
“The future of gaming will be cloud gaming and streaming, through which gamers can finally play together on a global scale across all devices: mobile, PC, and console,” Activate consulting wrote in a press release.