Facebook, the company, was only created in 2004 and is considered one of the first “social media” sites. The creation of Facebook was highlighted in the 2010 movie, “The Social Network” about Harvard dropout and founder, Mark Zuckerburg and his questionable creation of his now multibillion-dollar global brand with almost 2 billion users.
“Social Media Day,” which is Today was in fact created by another media brand, Mashable, which is not considered “social media.” Mashable positions itself as “a global, multi-platform media and entertainment company” and “the go-to source for tech, digital culture and entertainment content for its dedicated and influential audience around the globe.” This would certainly be of interest to global brands like ABC, CBS, FOX, NBC, and CNN.
It seems to be a hotly debated topic of who created the term “social media,” but there is no debate of how it has impacted the world and the global economy. According to a report from Deloitte UK, which was commissioned by Facebook, they estimate that through the channels of marketers, app developers and providers of connectivity, Facebook enabled $227 billion of economic impact and 4.5 million jobs globally in 2014. These effects accrue to third parties that operate in Facebook’s ecosystem and exclude the operations of the company itself. Key findings were that the United States is estimated to capture the largest economic impact at $100 billion. Followed by Central and South America at $21 billion; Europe and Northern Asia at $13 billion; Southern Asia and the Pacific Rim at $13 billion. And that is on Facebook alone! A total of over $150 billion worldwide.
Social Media has impacted how the world communicates and has even been given credit for the “Arab Spring” uprisings in 2014. It has changed journalism and the consumption of news and information. It has had a significant impact on traditional media such as newspapers, magazines, TV, and radio. Some publications have chosen to close down because of the negative economic impact of social media and the Internet.
According to an article on The Market Mogul, online advertising revenues increased significantly for social media in the last three years. In 2014 all social media generated a total of $17.9 billion from advertising, which includes games and apps, the amount jumped to $25.1 billion in 2015, and according to eMarketer, an online Internet marketing research company, the estimate is $32.9 billion for 2016 and $41 billion for 2017.
A story in The Motley Fool lists these as the Top Social Media platforms by most users:
World's biggest social networks by individual users
Facebook (1.9 billion)
WhatsApp (1.2 billion)
Messenger (1.2 billion)
YouTube (1 billion)
WeChat/Weixin (889 million)
QQ (869 million)
Instagram (700 million)
Zone (638 million)
LinkedIn (467 million)
Twitter (328 million)
Weibo (313 million)
This is only a glimpse into to the topic of social media and its global impact. We could probably write a lengthy book or two on it. To find out more about social media, you can go to Google and type in “Social Media” and read one of the 1.3 billion articles that come up about the topic! You can also type in “Social Media Day” in Google to find out if there are activities or events in your market, and of course, you can go to the Mashable website to learn more: http://mashable.com/smday/
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