£9.8bn
£XXX.Xm
6,611
276
£X.Xbn
Social media platforms are integral to people's lives, offering ways to communicate, create and view content and share information. According to Ofcom, approximately 89% of UK internet users in 2023 used social media apps or sites. Teenagers and young adults are the biggest users, although there is rapid uptake among older age groups. Advertising is the primary revenue source for social media platforms, although subscription-based services are gaining momentum as platforms seek to diversify their incomes. TikTok is the success story of the last few years, becoming the most downloaded app between 2020 and 2022, according to Apptopia. The short-form video platform reported that it averaged revenue growth of over 450% between 2019 and 2022.
Industry revenue has grown at a CAGR of 32.8 % over the past five years, to reach an estimated £9.8bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2025 | Revenue (£m)
2025 |
---|---|---|
TikTok Information Technologies UK Limited | 4,280.1 | |
Facebook UK Ltd | 3,849.9 | |
Snap Group Ltd | 1,427.2 |
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Industry revenue is measured across several distinct product and services lines, including Video advertising, Native advertising and Subscriptions. Video advertising is the largest segment of the Social Media Platforms in the UK.
Video advertising is a growing revenue source
This industry includes social networking website publishers and developers. The industry does not include companies that predominantly develop blogs, games, internet content, messaging services, online dating websites, online recruitment websites, online forums and online videos.
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SIC 62.01 - Social Media Platforms in the UK
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Including values and annual change:
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Key data sources in the UK include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Social Media Platforms in the UK industry in United Kingdom is £9.8bn in 2024.
There are 276 businesses in the Social Media Platforms in the UK industry in United Kingdom, which has grown at a CAGR of 6.9 % between 2019 and 2024.
The market size of the Social Media Platforms in the UK industry in United Kingdom has been growing at a CAGR of 32.8 % between 2019 and 2024.
Over the next five years, the Social Media Platforms in the UK industry in United Kingdom is expected to grow.
The biggest companies operating in the Social Media Platforms market in United Kingdom are TikTok Information Technologies UK Limited, Facebook UK Ltd and Snap Group Ltd
Video advertising and Native advertising are part of the Social Media Platforms in the UK industry.
The company holding the most market share in United Kingdom is TikTok Information Technologies UK Limited.
The level of competition is high and increasing in the Social Media Platforms in the UK industry in United Kingdom.