social media

The Social Media Landscape in 2024: A Marketer’s Guide

mischa social media landscape 2024 vertical

The internet is nothing if not social. From its earliest days, people used it to connect with each other on message boards and in chat rooms.

In 1997, the first “true” social media platforms, Six Degrees and Bolt, emerged. Then in 2003 came MySpace, which became the first social media site to reach a million monthly active users.

By the time Facebook hit the scene in 2004, it was clear that social media wasn’t going away — but the way people (and especially marketers) use it has been in a state of continuous flux.

Last year about this time, we released a list of alternative social media sites to try in 2023. But even in 365 days, a lot has changed. And since the Mischa Communications team prides ourselves on keeping our clients on the cutting edge of marketing trends, we’re here to provide a very necessary update: an exploration of the 2024 social media landscape.

3 Things to Know About Social Media in the New Year

#1: X Isn’t What It Used to Be

Sometimes rebranding works. Other times it doesn’t. And for X, formerly (and much more affectionately) known as Twitter, it seems it’s much more a case of the latter.

Ever since Elon Musk acquired the once-popular platform for an eyewatering $44 billion, killed off the cute little birdie mascot and started charging people for a tiny blue checkmark next to their name, things have gone downhill at an astounding pace. A few stats worth noting:

  • Apptopia says the site has lost 13% of its daily active users since Musk bought the company in October 2022.
  • SimilarWeb said in September 2023 that monthly active users had declined by 15% year-over-year (and 18% in the U.S.).
  • Also in September, Musk himself admitted that advertising was down 60%.

We think that says everything that needs to be said about whether you should be increasing or decreasing your marketing spend on the site. (But in case it doesn’t, we’ll be clear: Be wary of X.)

#2: Threads Is Exploding (In a Good Way)

Threads, an online social media/social networking platform (read: Twitter clone) from Meta, is a new app created by the Instagram team that seems like it could give the beleaguered X a run for the money.

The app allows posts up to 500 characters long and users can include links, photos and videos up to five minutes in length.

Launched on July 5, 2023, the app reached 2 million downloads within the first two hours. By the morning of July 6, there were already upwards of 95 million posts on the platform, and by July 7, more than 70 million people had signed up.

HubSpot calls Threads “an untapped goldmine” for business marketers; we’re inclined to agree! Just note that any Threads activity would be organic for now; Threads currently doesn’t have ads.

#3: Bluesky Is Twitter Before Twitter Became X

Developed by Twitter co-founder and former CEO Jack Dorsey, Bluesky is a decentralized social media network that aims to be what Twitter was before everything went wrong.

Some perks include the ability to dictate your own feed and exercise control over your timeline, the use of an open-source model that allows for transparency and community involvement, custom domains, and even the option to port your accounts to other platforms without losing your data or followers.

The app is currently invite-only and there are still some kinks to be worked out. However, Bluesky is an up-and-coming platform with plenty of potential. And by getting in on the ground floor, you can begin to position yourself as a thought leader long before other businesses begin to jump on board. (Just note that, like Threads, Bluesky currently does not host ads.)

Let Us Be Your Guide to the Changing Landscape!

Social media is going to continue to evolve. And any savvy business marketer understands that they need to evolve with it. But with new platforms cropping up and old ones dying out, that’s often easier said than done.

Enter Mischa Communications. Our team is ready, willing and able to do the heavy lifting while you sit back and enjoy the ride. Getting started couldn’t be easier!