Instagram and Facebook Are Now Growing Faster Than TikTok
Meta’s apps Instagram and Facebook are growing faster than TikTok for the first time in a while.
According to a new report by Business Insider, Meta’s biggest apps are beating TikTok on several major metrics.
On October 25, Meta reported better-than-expected results in its third quarter 2023 report — as revenue increased 23%, the fastest rate of growth since 2021.
Business Insider reports that while Facebook and Instagram grew globally in terms of app downloads, daily usage, and monthly usage, TikTok faced a continuing plateau on all three metrics.
Instagram and Facebook Fared Better Than TikTok in Downloads and Engagement
According to data from Apptopia used by the publication, Facebook daily active users grew by 1.5% and monthly active users grew by 1.8%. Meanwhile, Instagram’s daily users grew by 1.5% and monthly users grew by 1.6%.
However, both of Meta’s apps experienced a decrease in downloads — down 3.8% for Facebook and down 2.2% for Instagram. But Instagram and Facebook both fared better than TikTok.
Business Insider reports that downloads of the Chinese-owned TikTok app fell 12% — while daily and monthly users both fell by about 1% during the quarter.
Furthermore, the news outlet says that data from Evercore found daily usage of Facebook and Instagram both to be flat so far this year. However, daily users of TikTok have dropped 4% over the same period.
Instagram also saw the highest growth in terms of engagement, up 9% so far this year, Meanwhile, TikTok’s engagement grew slightly less at 8% this year.
But TikTok Still Beats Instagram and Facebook on Time Spent on Its App
But there is one metric where TikTok has a major lead over Meta’s Instagram and Facebook — the time an average user spends on the app.
According to Business Insider, Sensor Tower found that the average TikTok user spends “a whopping” 100 minutes each day on the app, or close to two hours. While Instagram’s average user spends just 58 minutes a day on the app and the typical Facebook user spends around 45 minutes.
Nonetheless, the general trends on Instagram and Facebook are a huge win for Meta. In September last year, it looked like the Meta was in free fall — with the company trading at its lowest stock value since 2019, revenue down, and users leaving its platforms.
Image credits: Header photo licensed via Depositphotos.
