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Social media apps break records during the pandemic

Social media apps

With rapid leaps, social media apps continue to record their revenues in record numbers, ignoring the global emergency represented by the outbreak of the Coronavirus pandemic.

The figures show that the largest beneficiaries are Facebook, which is the most prominent social networking application. Facebook has the highest revenues on these sites.

Tik Tok has the highest growth rate ever among applications during 2020, compared to 2019.

Social media apps

It is worth noting that the spread of the Coronavirus in most parts of the world has led to an increased interest in working from home and remote communication patterns.

With the growing importance of smart screens that enable individuals to work remotely and spend enjoyable times at home, it seems that some apps had the largest share of benefit from the global pandemic.

Facebook began its global activity in 2005, it has never recorded any decline in its financial income.

It started in 2006 with less than $100 million in revenues, and then to 150 million in 2007, before accelerating jumps began as of 2012.

Its profits in 2020, with the advent of the pandemic, amounted to about $86 billion, an increase of 21.6% for each year.

Tik Tok achieved fantastic financial results through growth rates that exceeded the that of Facebook, amid a sharp increase in the number of subscribers to the Chinese application.

The company’s financial data shows that the growth rate recorded in its revenues during the past year amounted to 111% compared to 2019 revenues reaching $34.4 billion. Meanwhile, the company’s net profit amounted to about $19 billion in 2020.

Other apps

Snapchat recorded revenues estimated at 46%, or $2.5 billion, during the past year 2020, compared to $1.71 billion in 2019.

At the same time, Alphabet, the parent company of YouTube and Google, reached about $182.5 billion in 2020, compared to $161.8 billion in 2019, a growth of 12.7%.

In contrast, Twitter has been the slowest in the development rate of its financial income over the past years, from an average of $300 million in 2012, to $2.4 billion at the end of 2017, and then to $3.7 billion at the end of last year 2020.

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