An image of a superyacht's hull, anchored in water. Below it, a paragraph of copy reads:
Profit is killing social media.
The biggest social media companies make a staggering amount of money every year.
In 2024, X, previously Twitter, made $2.5 billion, Snapchat made $5.3 billion, TikTok made $23 billion, Instagram made $66.9 billion, Facebook made $164.5 billion*.
Combined, that’s $262.2 billion in a single year. Enough to buy 37,000 60m superyachts, launch 39,000 Falcon X rockets, stay in a Deluxe Suite at the Ritz for 213,000 years, or pay off all student debt in the UK 57.6 times.
Still, it isn’t enough. Big Tech platforms will squeeze as much money as they can from their users, even if it means sacrificing the social in social media.
*www.businessofapps.com