Twitter's global market share grows by 55%!!!
Twitter's market share has increased to 55.8 per cent in 2022 amid the acquisition of Elon Musk, while Facebook's share on desktop and mobile devices worldwide has fallen to 11.86 per cent as of November. This information has been given in a new report. According to data compiled by Finbold, a breakdown of the market share indicates that facebook started the year at 76.85 per cent, while in November, the value was 67.73 per cent. Elsewhere, in January, twitter had a market share of 7.16 per cent, Whereas till November, this figure was 11.16 per cent.
Increase in daily users
The results indicate that while twitter is winning the fight to increase its market share, facebook is still the most popular social media network according to the data. Twitter's share has grown in correlation with the company's acquisition by tesla CEO Musk, who has already begun implementing several changes to the company. Interestingly, internal reports, also confirmed by Elon Musk, indicate that daily user growth at twitter achieved an all-time high during the first full week of Musk's tenure.
Musk impressed
According to Finbold, the performance seems to ease initial concerns that Twitter's acquisition of Musk may result in a massive exodus of users. Market share data collected over the course of the year suggests that Musk may have influenced the results. For instance, the stock rose when the deal was first disclosed in May before dropping following a temporary reversal.
Tiktok caused damage to Facebook
Twitter's success can be linked to factors like design changes in addition to the Musk factor and the promise of change. Facebook's market share has also been impacted by growing competition from new social media platforms like Tiktok. In this case, TikTok and other competitors are costing the corporation that lay off 11,000 workers consumers and advertising money. According to the article, there have been problems with Facebook's user base overall throughout the years. Experts have pointed to things like information overload, privacy concerns, addiction, peer pressure, and the introduction of alternative platforms.
