The Social Media Giants: Public Companies That Grew Their Audience the Most in Q1 2023
April 6, 7:45 am
The increasing usage of social media has prompted businesses to allocate more resources towards social media marketing. This article analyzes public companies that excelled in growing their social media audience during Q1 of this year.
Nike ($NKE) experienced a significant growth in its social media following by adding almost 23 million new followers across several platforms. Majority of the growth was from Instagram. Meta ($META) gained 4.7 million new followers from Instagram and Facebook. Netflix ($NFLX) saw an increase of 2.8 million followers, with the largest growth coming from TikTok. Alibaba, Spotify and Disney also had significant growth in their social media audience by adding around 1.6 million new followers across popular platforms like Twitter and Instagram.
In relative terms, Iris Energy's ($IREN) social media audience grew by 176% in Q1, a development that could aid the company in building brand recognition and establishing connections with potential clients and partners. Salesforce ($CMR) increased its social media following by 30% in Q1, demonstrating a company that has successfully utilized social media to engage its audience and showcase its industry expertise.
However, not all companies experienced growth in their social media audience. Contextlogic ($WISH), the company behind Wish, lost over 100,000 followers in Q1, while Blackberry and Dropbox both lost tens of thousands of followers.
Here's the top 10 companies that grew their audience the most in Q1.
| Company | Total Followers | Change | Change % | |
|---|---|---|---|---|
 |
Nike NKE |
331,671,344 | 22,703,408 | 7% |
 |
Meta META |
198,935,844 | 4,779,724 | 2% |
 |
Netflix NFLX |
167,311,999 | 2,897,481 | 2% |
 |
Alibaba BABA |
30,364,136 | 1,643,223 | 6% |
 |
Spotify SPOT |
43,488,451 | 1,599,634 | 4% |
 |
Disney DIS |
106,518,824 | 1,551,535 | 1% |
 |
Google GOOGL |
82,175,412 | 1,323,428 | 2% |
 |
Microsoft MSFT |
31,131,640 | 1,001,631 | 3% |
 |
Tesla TSLA |
31,660,516 | 886,652 | 3% |
 |
Apple AAPL |
60,389,805 | 834,158 | 1% |
Building social media audience is crucial for companies as it can expand their customer base, leading to a positive impact on revenue. Companies can reach new clients, foster brand loyalty, and cultivate a community of supporters who can promote their products and services by increasing their social media presence and engagement.
In conclusion, growing social media audience is an essential objective for companies looking to expand their customer base and increase revenue. While social media growth is just one of many factors that can determine a company's success or failure, it is a powerful tool for building brand awareness, engaging with clients, and driving business growth. Companies that prioritize their social media strategy and audience-building efforts are likely to reap long-term benefits.
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