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Social Media Subscription Market Trends, Top Companies, Share, Growth And Forecast 2033
Social Media Subscription Market
As per the report, the social media subscription market size has grown exponentially in recent years. It will grow from $20.28 billion in 2023 to $24.72 billion in 2024 at a compound annual growth rate (CAGR) of 21.9%. The social media subscription market size is expected to see rapid growth in the next few years. It will grow to $50.53 billion in 2028 at a compound annual growth rate (CAGR) of 19.6%.
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Rising Popularity Of Internet-Based Streaming Drives Growth In The Social Media Subscription Market
Internet-based streaming services are expected to propel the growth of the social media subscription market. Customers nowadays are preferring to watch their favorite content as and when they wish to from any place which is increasing the popularity of online content streaming. To watch their favorite content online customers, customers need to avail of subscription to specific sites such as Netflix, Amazon, and more either on a monthly or quarterly, or yearly basis by paying a certain amount for the subscription. For instance, according to Decider, a US-based entertainment, and pop culture destination site data, Netflix has roughly 214 million global paid memberships, as of Q3 2021. In another survey conducted in America revealed that Americans prefer Netflix to TV to watch operas and movies. It also states that 53% preferred streaming TV shows and 56% online video streaming on monthly basis and only 46% prefer watching live TV. Therefore, the internet-based streaming services are driving the growth of the social media subscription market.
Leveraging Social Media Marketing In The Social Media Subscription Marketa
Social Media marketing is the use of social media platforms by companies to increase sales, drive website traffic, and market or promote their products or brands. The companies do social media management by posting content on their social media profiles, responding to their follower's reviews or comments, and publishing social media advertisements. For instance, in January 2022, according to Sprout Social data, a US-based software company, there are 3.96 billion total social media users across all platforms and the amount of time adults use social media across all platforms is now higher than ever 95 minutes per day.
The social media subscription market covered in this report is segmented -
1) By Type: Refill, Customize, and Membership
2) By Payment Mode: Cash on Delivery, and Online Payments
3) By Application: Beauty and Personal Care, Food and Beverage, Clothing and Fashion, Entertainment, Health and Fitness, and Other Applications
4) By End Users: Adults, and Kids
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Major companies operating in the social media subscription market report are Amazon.Com Inc., Apple Inc., Alphabet Inc., Microsoft Corporation, Comcast Corporation, AT&T Inc., The Walt Disney Company, Tencent Holdings Limited, Charter Communications Inc., Discovery Inc., Warner Bros. Discovery, Netflix Inc., ViacomCBS Inc., Bell Canada, Bertelsmann SE & Co. KG, Vivendi SE, Fox Corporation, Spotify Technology S.A., Hearst Corporation, Canal+ Group, Snap Inc., iHeartMedia Inc., Gannett Co. Inc., Zynga Inc., New York Times Company, Conde Nast, Meredith Corporation, National Geographic Partners LLC, Nextdoor Inc., Trafalgar Entertainment
Contents of the report:
1. Executive Summary
2. Social Media Subscription Market Report Structure
3. Social Media Subscription Market Trends And Strategies
4. Social Media Subscription Market - Macro Economic Scenario
5. Social Media Subscription Market Size And Growth
…..
27. Social Media Subscription Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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