Social Media Market Grows with the Use of Internet

NEW YORK, November 14, 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. The use of social media around the world is directly correlated with the spread of internet. Data provided by Hootsuite shows that global social media use has increased by 21% in the last 12 months, reaching 2.8 billion users globally. North and South America saw 8% year-on-year growth in regional internet penetration. The Hootsuite also points out that the United States alone contributed 22 million (25%) of the 88 million new social media users across the region in the past year. Grom Social Enterprises, Inc. (OTC: GRMM), Snap Inc. (NYSE: SNAP), Weibo Corp. (NASDAQ: WB), YY Inc. (NASDAQ: YY), Facebook Inc. (NASDAQ: FB)

"One of the greatest opportunities of a digitally connected world is the ability to have immediate conversations, wherever and whenever customers want. Social media not only enables organizations to amplify its brand, but also build trust, credibility and human relationships at scale. It is now as much the responsibility of the top executive as the social media manager," said Penny Wilson, CMO, Hootsuite.

Grom Social Enterprises, Inc. (OTCQB: GRMM) announced breaking news yesterday that, "its subsidiary Grom Educational Services ("GES") is opening a new 1,400 square foot office in Norcross, Georgia on January 1, 2018 to house its NetSpective Webfilter division. GES d/b/a as NetSpective Webfi lter provides proprietary Internet filtering software, to over 3,700 schools and in excess of 2 million children, and generates revenue through a subscription model. NetSpective products comply with the Children's Internet Protection Act ("CIPA"), which requires that K-12 schools and libraries in the United States use Internet filters and implement other technology protection measures to protect children from harmful online content as a condition for federal funding. See http://www.gromedu.com for additional information."

Ralph Sabella, Grom's VP of Operations, stated, "The opening of the GES office is an important milestone for Grom. During the past year, NetSpective operated out of the offices of Telemate.net based in Norcross, Georgia. Additionally, our new offices will enable us to focus on expanding the web filter division as well as centralizing our very talented engineering and development group who will assist with all other Grom enterprises."

"We feel the combination of Grom's enhanced digital citizenship programs and extensive library of original content coupled with NetSpective Webfilter products, will bring significant added value to our menu of products and give us a leg up on the competition," said Darren Marks, President and CEO.

Snap Inc. (NYSE: SNAP) is a camera company. The Company's flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images. On November 07, 2017, the company announced financial results for the quarter ended September 30, 2017. Daily active users (DAU) grew from 153 million in Q3 2016 to 178 million in Q3 2017, an increase of 25.2 million or 17% year-over-year. DAUs increased 4.5 million or 3% quarter-over-quarter, from 173 million in Q2 2017. Average revenue per user was $1.17 in Q3 2017, an increase of 39% over Q3 2016 when ARPU was $0.84. ARPU increased 12% over Q2 2017 when ARPU was $1.05.

Weibo Corp. (NASDAQ: WB) is a leading social media platform for people to create, distribute and discover Chinese-language content. It provides an unprecedented and simple way for people and organizations to publicly express themselves in real time, interact with others on a massive global platform and stay connected with the world. In December 2016, Weibo had 313 million MAUs and 139 million average DAUs, increasing from 236 million MAUs and 106 million average DAUs in December 2015, and 176 million MAUs and 81 million average DAUs in December 2014. Weibo serves a wide range of users including ordinary people, celebrities and other public figures, as well as media outlets, businesses, government agencies, charities and other organizations, making it a microcosm of Chinese society. Recently, the company announced its unaudited financial results for the third quarter ended September 30, 2017. Weibo reported net revenues of $320.0 million, compared to $176.9 million for the same period last year. Advertising and marketing revenues totaled $276.8 million, compared to $156.7 million for the same period last year.

YY Inc. (NASDAQ: YY) is the NO.1 live streaming social media platform in China, in terms of monthly and daily active user, as well as total time spent of users that directly accessed the platforms of the relevant industry players in September 2017, according to QuestMobile, an independent mobile data company in China.  The company's mobile products attracted 66.1 million average monthly active users in the three months ended June 30, 2017, a 27.1% increase from the corresponding period in 2016. The growth of its user base and increasing level of user engagement is driven by the breadth of entertainment content and activities featured on its platform. The company continuously expand its content categories to cover both traditionally popular genres such as music, dance, talk shows and online games, as well as to feature emerging and long-tail categories such as outdoor, finance, sports and anime.

Facebook Inc. (NASDAQ: FB) mission is to give people the power to build community and bring the world closer together. People use Facebook 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. The company recently announced it added one of the most requested features in Messenger to two new countries by introducing peer-to-peer payments to people in the UK and France. This is the first time Messenger has extended p2p payments since launching in the US in 2015, and since then, p2p payments in Messenger have been widely used to make life more seamless. With this feature, people will be able to send money to others in their country

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