Social Media Market is Projected to Grow With Internet and Smartphones Users
NEW YORK, November 6, 2017 /PRNewswire/ --
According to research data by Ameri Research Inc., the Social Media Market recorded revenue of 13 billion USD in 2016 and expected to grow at a CAGR of 21.29% till 2024. Rapid development in online media marketing, smart phone market and an increase in a number of internet users are major growth factors for social media market. Global Social Media market can be segmented into two types - Consumer Social Media and Enterprise Social Media. Having a large margin, consumer social media is expected to grow rapidly with a CAGR of 14% in the forecast period, while Enterprise social media market is expected to grow at a CAGR of 20.03% by 2024. Grom Social Enterprises, Inc. (OTCQB: GRMM), Facebook, Inc. (NASDAQ: FB), Twitter, Inc. (NYSE: TWTR), Microsoft Corp. (NASDAQ: MSFT), Yelp Inc. (NYSE: YELP).
There is no question, social media and networking platforms have become a technology that is essential in our daily lives. According to a research published by Statista, "The power of social networking is such that, the number of worldwide users is expected to reach some 2.95 billion by 2020, around a third of Earth's entire population. The region with the highest penetration rate of social networks is North America, where around 60 percent of the population has at least one social account. As of 2016, 78 percent of the United States population had a social networking profile."
Grom Social Enterprises, Inc. (OTCQB: GRMM) announced breaking news on November 3rd that, "it had filed its Form 8-K/A with the SEC that includes audited financials for the full years ended December 31, 2016 and 2015 for Grom Holdings. The filing also includes unaudited financials for Grom Holdings for the six-month period ended June 30, 2017."
Darren Marks, Chairman and CEO, stated, "This filing provides valuable, additional information which we believe will enable investors to further appreciate why we are so excited about our growth potential and the opportunities that are currently available to us. Our strategy is to help fund a significant portion of the development, growth and monetization of our core Grom Social platforms through the profitable operation of synergistic subsidiaries. These platforms have grown to over 12 million users since inception over all platforms which includes children and parent/guardian users.
During the last 15 months, we have made two synergistic strategic acquisitions -- Top Draw Animation, Inc., and NetSpective Webfilter -- and entered into a significant joint venture with Bond Tech, Inc. These acquisitions and the joint venture are expected to provide profitable revenue streams, thus significantly reducing the Company's cash burn to a manageable level, and in the process lowering the threshold of capital we have to raise to fund the Company. In addition, we have a supportive shareholder base that has provided us the capital to achieve what we have so far. As a result, we have not had to enter into any toxic debt or similar arrangements that have typically prohibited social media enterprises from creating significant value for their shareholders."
Mel Leiner, Grom Social's Executive Vice President and CFO, stated, "It is worth noting that our largest operating subsidiary, Top Draw Animation, which provides animation services for high-profile companies, is also strengthening content on our Grom Social website by starting to provide us with the same high-quality animation produced for third parties. Top Draw Animation is growing and has already booked major orders for its animation services in 2018 and 2019. The Top Draw acquisition provided us with additional industry visibility and has exceeded our expectations operationally."
Mr. Leiner continued, "Overall, our primary focus has not changed. Our goal is to strengthen the Grom Social brand as the leading safe social media platform for kids between the ages of five and 16, where kids can be entertained and interact with their peers while learning good digital citizenship. We believe this provides our company with major monetization opportunities moving forward."
Facebook, Inc. (NASDAQ: FB) allows users to stay connected with friends and family, to discover what's going on in the world, and to share and express what matters to them. On November 1st, Facebook reported financial results for the quarter ended September 30, 2017. "Our community continues to grow and our business is doing well," said Mark Zuckerberg, Facebook founder and CEO. "But none of that matters if our services are used in ways that don't bring people closer together. We're serious about preventing abuse on our platforms. We're investing so much in security that it will impact our profitability. Protecting our community is more important than maximizing our profits."
Twitter, Inc. (NYSE: TWTR) announced financial results for its third quarter 2017 on October 26th. "This quarter we made progress in three key areas of our business: we grew our audience and engagement, made progress on a return to revenue growth, and achieved record profitability," said Jack Dorsey, Twitter's CEO. "We're proud that the improvements we're making to the product continue to bring people back to Twitter on a daily basis. It's our job to help people stay informed about what's happening in the world and what people are talking about, and we're focused on making our service faster, easier to use, and more relevant to more people every day."
Microsoft Corp. (NASDAQ: MSFT) is the leading platform and productivity company for the mobile-first, cloud-first world, and its mission is to empower every person and every organization on the planet to achieve more. Last year, Microsoft and LinkedIn Corporation announced they have entered into a definitive agreement where Microsoft will acquire LinkedIn for $196 per share in an all-cash transaction valued at $26.2 billion, inclusive of LinkedIn's net cash. LinkedIn will retain its distinct brand, culture and independence. LinkedIn is the world's largest and most valuable professional network and continues to build a strong and growing business. "The LinkedIn team has grown a fantastic business centered on connecting the world's professionals," Nadella said. "Together we can accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics as we seek to empower every person and organization on the planet."
Yelp Inc. (NYSE: YELP), the company that connects people with great local businesses, announced on October 25th, that management will be attending the RBC Capital Markets Technology, Internet, Media and Telecommunications Conference on November 8th in New York, NY. A webcast of the presentation will be available on the company's investor relations website at http://www.yelp-ir.com under the Events and Presentations menu.
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