Social media has been growing rapidly over the years and there seems to be no end in sight. With many of us being first introduced to social media at a young age, Generations Y and Z have transformed the industry. Currently there are over 3.8 billion users on social media. By 2023, it is estimated that there will be over 4.2 billion people using social media around the world. This makes me question, which 2020 social media platforms are here to stay?
With that said, I thought it would be interesting to break down some major 2020 social media platforms into subcategories. Those subcategories being: Here to Stay, Up-and-Coming, Overrated, and Soon-to-be Dead. Comment below if you agree/disagree!
2020 Social Media Platforms that are Here To Stay (and growing):
- Launched in 2004: Cambridge, Massachusetts
- Over 2.6 billion active monthly users
- Valued at ~$600 billion
Being one of the largest social networking websites, who doesn’t know Facebook? As of recently this popular platform has faced scrutiny due to the lack of filtering advertisements, but Facebook is still rapidly growing.
As a Zoomer, what you see on Facebook is much different from what you see on Snapchat or Insta. Gen Zer’s often label Facebook as “irrelevant” because all of our parents and grandparents use it. Does anyone else try to reflect a goody-two-shoes image on Facebook or is it just me?
The network will continue to be relevant among Baby Boomers and Generation X. I am really interested to see how much it will continue to grow into the future. I assume it expands deeper into countries outside of the United States, while also will try to innovate new ways to compete with Twitter.
- Launched in 2010: San Francisco, California
- Over 1.2 billion active monthly users
- Valued at ~$102 billion
An inclusive platform, Instagram has a tight hold on many of our lives. If you are a member of Gen Z, you probably look at somebody differently if they don’t have an Instagram. It has basically become a societal norm for young adults and kids to have at least one account.
Since Instagram is owned by Facebook, they are not competing. Therefore, Instagram will continue to expand. Even though Instagram has been affiliated with hurting individual’s mental health, their doing away with displaying “likes” could help them. Instagram is definitely here to stay, and will most likely fight off any competitor that comes too closely.
- Launched in 2011: Santa Monica, California
- Over 46 million active monthly users
- Valued at ~$33.5 billion
One thing I love about Snapchat is that it is always evolving. Does anybody remember the best friends list back in 2014? A love-hate relationship for most of us who used the app back then. Since that time, Snapchat has gone through some major revisions that are beneficial to its users.
Snapchat is probably the most niche social media platform out there, with a large focus being on 15-27 year olds. Love it or hate it, Snapchat is here to stay. It is extremely user-friendly, and is used as an alternative to text-messaging for most. Stories, SnapMap, and Discover add elements to the app that make it enjoyable and practical. Look for Snapchat to keep growing in popularity!
- Launched in 2005: San Mateo, California
- Over 2 billion active monthly users
- Valued at ~$200.6+ billion
Youtube is a platform that can thrive with literally any environment. This Google owned video sharing website gives you the ability to find anything you want. I see nothing but long-term success for Youtube, as it holds a strong grip on all generations, old and young.
As I mentioned before, Youtube thrives on any type of environment due to the nature of its work. Whether you’re in quarantine or traveling the world, you can essentially make a video of anything and upload it. One thing I have loved seeing on Youtube recently are musicians doing live performances. With in-person concerts out of the question for the time being, these live performances are entertaining and worth the watch. It’s going to be cool to see what else breaks out on Youtube over the next few years.
Random thought: Does anybody else still watch old Vines on Youtube in 2020? Or is it just me?
2020 Social Media Platforms that are Up-and Coming:
- Founded in 2007, launched in 2011: San Francisco, California
- Over 37.5 million active monthly users
- Valued at ~$5 billion
The ultimate “stay home” platform, Twitch has transformed the video game industry into something new. Instead of watching recorded videos on Youtube, Twitch is a live streaming service. It has brought Ninja, Tfue, Myth, and others to fame. In addition, it has made video games more interactive and entertaining.
Acquired by Amazon in 2014, there is no stopping this streaming service. Mainly popular among younger generations, Twitch has massive potential. If Twitch can add another element to their business, I see massive upside growth. Two things I would like to see get more popular on the platform – live stream music and live stream sports (when they come back of course).
- Launched in 2002: Mountain View, California
- Over 580 million active monthly users
- Valued at ~$26.2 billion
LinkedIn is honestly one of my favorite social media platforms. It has a very strong hold on young professionals, job seekers, and businesses around the world. LinkedIn has been able to separate itself from the competition, with only Handshake rivaling it. I say it is the future of job searching, as COVID-19 is going to limit large networking events and job fairs for a long time.
LinkedIn is owned by Microsoft – which also has a bright future ahead. The only problem I see for LinkedIn is possibly another competitor emerging, but even then I don’t see people fleeing the site. In my opinion LinkedIn is both trustworthy and reputable. I have never once had a problem with the site. A question I have been thinking about – when the job market starts opening back up, how will LinkedIn be impacted?
- Launched in 2012: Los Angeles, California
- Over 50 million active monthly users
- Valued at ~$18.6 billion
You may argue Tinder has “been here”, but its potential to become even more popular is clear. With the coronavirus limiting opportunities to go out to a bar or party, more and more individuals are signing up for Tinder. This app has revolutionized dating for Generations Y & Z, and has made it easier to see who is interested in you and who is not. With the swipe of a finger you can find a ton of single people looking for some fun.
The question I have for Tinder – will it revolutionize into something else? This is why I place Tinder into up-and-coming. It has potential to explode into an even bigger social media platform just like Instagram or Snapchat. I know a lot of people who dislike it and discredit it as a fad, but in my eyes it can grow to something bigger and better than what it is right now.
- Launched in 2011: San Jose, California
- Over 200 million active monthly users (Data ranges)
- Valued at ~$73 billion
Zoom has exploded in recent months and has turned into one of the best platforms for virtual get-togethers. It is not restricted solely to iPhones (like Facetime), and it gives you the chance to talk to an individual anywhere in the world. To say the least, Zoom has massive potential. If they can adopt a “talk with strangers” feature, they can make Omegle even more irrelevant than what it is.
There definitely are a few things that are holding Zoom back. One being Zoom-bombing, which is when random people come into discussion rooms and raise hell. This has been a problem at a few universities and live-stream talks. One thing Zoom does to combat this is giving the host of the meeting the ability to mute anybody who tries to take over the chat. Zoom also has a problem with connectivity issues (on my end at least). It seems like people break-up a lot or have their screen frozen. If Zoom invests more money into the platform, they can break away from the issues they are having and will thrive in our current world.
2020 Social Media Platforms that are Overrated:
- Launched in 2017: Beijing, China
- Over 800 million active monthly users
- Valued at ~$100 billion (not concrete)
Charli D’Amelio, Addison Rae, Zach King, Loren Gray – all have been brought to fame because of the platform. You even see Giannis Antetokounmbo, Jason Derulo, and Jimmy Fallon hopping in on the fun. The Chinese video app “TikTok” has exploded in recent months. TikTok mainly features people trying to imitate viral dance routines, but now I see filming yourself with a tweet in the background is the way to go? Users can do whatever they want with their videos, but this makes me question, is TikTok here to stay?
I personally don’t think so. Already people are becoming skeptical about its trustworthiness, as it’s getting accused of infringing on the privacy of its users. The President is now even considering banning the app in the United States. I have no doubt that TikTok will expand in the coming months, but I am not convinced it is here to stay for the long-term. The recycled content is popular for now, but just as fast as Vine died, so will TikTok.
- Launched in 2006: San Francisco, California
- Over 321 million active monthly users
- Valued at ~$24.2 billion.
Twitter was most widely used back in 2015. I used to be one of those annoying people who would tweet about almost anything back in the day. Honestly it once was a platform for young people who wanted to rant about something. Nowadays I feel like it’s almost used as a news source and political agenda pushing. If I want to see something bad going on in the world, I’ll just log onto Twitter.
I still consider Twitter as a top-tier social media platform, but I do not see it expanding at all. It is dominated by a small crowd of people, while the rest of us just like and retweet their stuff. Content on the site is still good, but it gets old after a few minutes. Unless Twitter innovates like Facebook or Snapchat, their usership will start to decline rapidly.
- Launched in 2007: New York City, New York
- Over 7.2 million monthly active users.
- Valued at ~$3.2 million
I am personally not a big fan of Tumblr, which is why I put it in this category. I honestly thought it died a long time ago, but I guess people are still using it. One thing I’ve heard about Tumblr is that it is constantly evolving, which is a good thing for its users. I would assume so if people are still using it. Tumblr recently banned a certain subgroup, which I won’t go into in this blog.
The problem I have with the site is you never know what’s going on with it. I hear people talking about Tumblr on other websites, but I never understood the hype. It’s almost like a knockoff version of Facebook and Twitter. Tumblr has been around since 2007 and I have never once downloaded the app, simply because I never felt the urge to. Tumblr is not something that Generations Y or Z use frequently, and will probably decline in popularity soon.
- Launched in 2005: Medford, Massachusetts
- Over 430 million active monthly users
- Valued at ~$3 billion
Reddit is a unique platform, as the ability to go out and comment on whatever topic you want is pretty cool. It is interactive and informative, while it also gives you something to do if you’re bored. However…
New and improved versions of Reddit are surfacing everyday. Even though Reddit is very common in 2020, it does not dominate conversations as a superior social media. People have been saying it’s out of date and hasn’t innovated with the times. A lot of the content is a waste of space, spammy, and irrelevant. In my opinion, you have to be pretty bored to go on Reddit. This “overhyped” platform will have to get with the times if it wants to survive.
2020 Social Media Platforms that are Soon-to-be Dead:
- Founded in 2007: Stockholm, Sweden
- Over 75 million active monthly users
- Valued at $150 million (decreasing)
Soundcloud has given us Post Malone, 21 Savage, Lil Peep, Two Friends’ Big Bootie Mixes, and much more. There is not a day that goes by that I don’t think about how I could’ve been the next famous Soundcloud rapper (this is a joke by the way). Aside from the bad jokes, Soundcloud’s music sharing ability used to be the best. But times have changed.
Even though Soudcloud used to be such a great platform, it is slowly dying due to the rise of Apple Music and Spotify. It’s unfortunate because I love listening to a lot of the EDM remixes and underground rappers trying to make it big. Maybe it can turn itself around, but for now I see it either being replaced by another platform or dissolving in full. RIP to the Soundcloud Rap Era.
- Launched in 2002: New York, New York.
- Over 1 million active monthly users
- Valued at ~$200 million
Meetup is a platform that makes it easier for groups to get together. It is a useful app to have downloaded, as it makes it easy to discover events. However, Meetup has a lot of drawbacks. One, you have to pay money to organize an event. Two, they were thinking about adding a $2 fee for anybody that RSVP’s for an event. I think in today’s age, people are not willing to pay for things that they can do for free. Is that just me or do you agree?
I put Meetup as “soon to be dead” due to the nature of its work. Are people really going to be “meeting up” any time soon? COVID-19 definitely will have a say in that. Even though Meetup is trying to transition to online events, Zoom is a lot more popular for online get-togethers. Unless Meetup gets a few popular influencers to give them a boost, I do not see it surviving through this global pandemic.
- Launched in 2004: Vancouver, Canada
- Over 12 million active monthly users
- Valuation: Unknown, rapidly declining
Flickr is a photo sharing platform that is on a steep decline. I remember it was gaining traction a few years ago, but its hopes are now dwindling. Instagram severely overpowers Flickr, and now you see royalty-free photo sharing networks rising in popularity.
For those of you who still use Flickr, I would suggest starting to look for other ways to share your photos. I do not see a network that is asking users to contribute money staying in business. In my eyes, Flickr probably won’t exist in 2021.
- Founded in 2016: New York City, New York
- Over 1.23 million registered users (monthly user data not available)
“Built on Blockchain”, Steemit is a blogging platform that pays you to write. A pretty neat idea, they give you STEEM cryptocurrency for publishing good content. Another thing I like about Steemit is that it is headquartered in the great state of Virginia (where I am from). Is it legit though?
It is legit, however I have read that Steemit has a ton of issues. One, it’s hard to understand how it works. Two, the platform is not very user friendly. Three, they have a weird payment structure that isn’t determined by “popular voting”. I am not super knowledgeable about the site, but Steemit has a lot of things they need to take care of. If they don’t, it will never get bigger than it is right now (which is not big at all). Wishing them luck though!
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Thanks for reading all! Comment below your thoughts.