Overview and Scope
Social media subscriptions are primarily engaged in sales of subscriptions or related services to customers on social media through cash on delivery or online payment methods to customers categorized as women, men and kids.
Sizing and Forecast
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 growth in the historic period can be attributed to rising social media adoption, content monetization, influencer marketing boom, ad-free experience, privacy concerns.
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%. The growth in the forecast period can be attributed to increasing content diversification, growing digital economy, personalization and ai integration, emphasis on community building, global economic trends. Major trends in the forecast period include cross-platform integration, collaborations and partnerships, gamification elements, education and skill development, customization and personalization.
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Segmentation & Regional Insights
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
North America was the largest region in the social media subscription market in 2023. The regions covered in the social media subscription market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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
The social media subscription market report table of contents includes:
1. Executive Summary
2. Social Media Subscription Market Characteristics
3. Social Media Subscription Market Trends And Strategies
4. Social Media Subscription Market – Macro Economic Scenario
5. Global Social Media Subscription Market Size and Growth
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32. Global Social Media Subscription Market Competitive Benchmarking
33. Global Social Media Subscription Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Social Media Subscription Market
35. Social Media Subscription Market Future Outlook and Potential Analysis
36. Appendix
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