Social Networking Platforms Projected To Exceed $50 Billion This Year

The social networking apps market is on fire.

A social networking/messenger site is an online platform which people use to build social networks or social relationship with other people who share similar personal or career interests, activities, backgrounds or real-life connections. In June 2020 alone, one app in the Apple App Store (LINE) had generated $6.78 million in global app revenues.

A recent report by IBISWorld projected that social networking sites in the US market size in 2020 would reach $52.7 billion, with a Market Size Growth of 16.8%.

Another report from MarketWatch said that the global social networking sites market will grow by US$ 60.1 Billion by 2024 at a CAGR of 18% in the given forecast period… and yet another report, from Market Research Engine projected that The global Social Networking Sites Market will grow by US$ 70.8 Billion by 2025 at a CAGR of 18%.

The MarketWatch report added: “Major factors expected to drive the growth of the social media is being increasingly acknowledged as a platform that helps in directing search keywords towards the websites of companies, leading to enhanced website traffic and brand popularity/visibility.

The proliferation of smartphones is also playing a vital role in the growth of the market. Social media apps designed for smartphones regularly track activities and further increase the relevance of social media marketing.”

Two of the related sub-markets are the global social media analytics market and the social media Advertising market. MarketsAndMarkets projects that: “The global social media analytics market size is expected to grow from USD 3.6 billion in 2020 to USD 15.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 34.1% during the forecast period.

Major growth drivers of the market are an increased focus on competitive intelligence and increasing user engagement of social media using smartphones.”

Hello Pal International Inc. BREAKING NEWS: Hello Pal Announces Record Results in May and June 2020   –  Hello Pal International Inc., a provider of rapidly growing international live-streaming, social messaging and language learning mobile apps, is pleased to announce that it achieved record receipts in May and June 2020 as set forth below:

Financial Performance –  Hello Pal’s livestreaming service achieved record receipts of approximately $1,200,000* in May 2020 and $1,064,250* in June 2020 for a two-month total of $2,264,250*.

Monthly receipts of over $1,000,000* is a significant milestone as it results in Hello Pal’s Asian subsidiaries to be profitable.

User Base Performance  –  As of the date of the news release, Hello Pal’s registered user base is over 5 million users from over 200 countries and regions.The positive increase in registered users continues to be driven by our livestream service.

The livestreaming service continues to be active with over 10,000 daily active users, but even more notably, the daily number of users making top-up payments to the Company has more than doubled from the beginning of the year, from around 150 in January to over 300 by the end of June.

For more information, visit www.financialnewsmedia.com

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