Social media has been up to pretty extent well ingrained into the daily lives of businesses and individuals alike. Social media is now a tangible integration of strategists, marketers, business people and individuals, all working towards one missions – of being heard, being discover-able. With social media, you can announce to the world what you are up to and brag your achievements to gain further opportunities down the line. Social media is all about who are the ones you care about, and who care about you. This seemingly powerful tool in the modern internet era has been pretty well dominated by only five major brands, or companies, although there exist over hundreds of social media networks out there. So exactly does own a major piece of this ‘Social Media’ pie?
It has been fairly touted that social media takes up a considerable share of time in an individual’s daily life, taking up to 3 hours every day for an average user.While it is showing no remorse in terms of bringing that time down, people are more inclined to social media than mainstream news channels to stay ahead of the current happenings and events. Keeping up with someone is now made much easier than ever before, thanks to social media.
Now while all of this seems fair enough and that billions of individuals have joined themselves on this social media bandwagon, there are a few of them that single-handedly own a major share of all this newly minted wealth of users.The five major companies that own the major part of the social media are – Facebook, Google, Twitter, LinkedIn and Yahoo.
These brands account to a major portion of the social media population on the internet. By ruthless acquisitions of successful startups and potential competitors, these five social media networks account to most of the social media activity on the internet. The social media numbers are mind numbing for an average everyday internet user.
Facebook and Google are clearly the major players in social media, with over 1.8 and 1.5 billion active users respectively, thanks to Google’s acquisition of YouTube and Facebook’s infamous acquisition of WhatsApp and Instagram. While Twitter, LinkedIn and Yahoo aren’t too far fetched in this regards, it is the newer rising social media platforms that the younger generations, between 16-25 years of age are particularly interested in. The younger generation are more than willing to ply their trade someplace fairly new to the internet.