Social Media Trends to Watch for 2023

Platforms Search for New Revenue Models as Gen Z Reshapes the Landscape

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About This Report
As the ad revenue shortfall deepens, social media’s legacy players face new competition for users, a complicated situation with creators, and a social commerce rewind.
Table of Contents

Let’s BeReal: 2022 was a tough year for most social platforms. Next year will bring new competition from Gen Z-focused rivals, a (mostly unsuccessful) quest for alternate revenue streams, a social commerce rewind, a complicated situation with creators, and amped-up competition for video viewers.

Gen Z Puts Its Stamp on the Next Phase of Social Media

TikTok needs to watch its back. True, it’s still Gen Z’s favorite app; we expect nearly 70% of Gen Z internet users to use it monthly in 2023, up from 64.1% in 2022. But emerging competitors like BeReal are gaining traction, based on a comparison of fall 2022 Piper Sandler survey data with our forecasts.

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Table of Contents

  1. Gen Z Puts Its Stamp on the Next Phase of Social Media
  2. Non-Ad Revenue Streams Gain Steam—Then Fizzle
  3. Ads Drive the Social Commerce Shopping Cart Forward
  1. Creator Ad Revenue Sharing Brings Unintended Consequences
  2. Social Video Graduates to the Big Leagues
  3. Sources
  1. Media Gallery

authors

Debra Aho Williamson, Jasmine Enberg

Contributors

Ross Benes
Senior Analyst
Natalie McGranahan
Senior Researcher and Taxonomy Manager
Chuck Rawlings
Senior Researcher
Max Willens
Senior Analyst
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