Digital Disruptors: The Global Competitive Landscape of Social Media

Key findings

Four billion internet subscribers provide huge potential for social media platforms

2019 is a landmark year for internet subscription as it reached four billion customers. With improved connectivity and increased penetration of mobile phones, the internet is at the fingertips of more consumers. This provides many opportunities for social media platforms to engage with their user base.

Consumers seek a digital balance amidst data privacy concerns

Consumers are wary of the impact of too much connectivity and are actively seeking out a digital balance. This means that while they spend time online and on social media platforms, it tends to be measured. This gives companies a short window to engage with their consumers. Consumer are looking for more meaningful interactions through their social media platforms. At the same time, consumers tend to be sceptical about how social media platforms use their information. While they expect a unique experience they are also aware that this could lead to their privacy being invaded. With more calls for regulations on data management on social media platforms, there is need for more transparency to keep consumers on the platforms.

Social media platforms diversify to remain relevant

Social media platforms are aware that consumers want more quality engagement from them. On the one hand, we see super apps developing beyond Asia. This will give a chance for the platforms to be available for their customers across many areas such as communication, lifestyle, social, financial and retail. On the other hand, they are looking to create seamless experiences in areas such as shopping and payment for their customers.