2 TRILLION HOURS SUGGESTS DIGITAL AND SOCIAL ARE AT THE TOP!
Today's data supports our continued view that app users continue to grow their usage of entertainment-based apps. This view has much to do with whether Tik Tok is taking share from other apps or if the pie is growing.
Global time spent on social media apps continues to rise rapidly. Various studies highlight that the average person spends over two hours daily on social media platforms, a significant increase from just a few years ago.
Today's data of over 2 trillion hours is nearly 100% higher than 2019 levels.
Potential Investment Implications
From an investment perspective, we believe that there is more growth in the pipeline. In previous data newsletters, we shared how shockingly underpenetrated internet adoption remains. Also, new formats such as VR/AR and creative tools such as Canva, Adobe, Figma and others are opening up the door to new content mediums.
While social media and entertainment apps feel as if they have reached maturity, we know that when things are digitally native, the boundary for growth is somewhat endless. Last night's earnings report from Netflix is a good illustration of this. A company that saw covid lockdowns bring in record levels of new users is still finding ways to grow and gain viewership.
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