06/07/2021

Social Media's Next Wave

New, independent social media platforms are starting to proliferate

There are two opposing theories of competition among social media platforms. One holds that social networks are inherently faddish: Kids don’t want to be on the same platforms as their parents, and newer, cooler options are bound to pop up and supplant their predecessors eventually. The other says that social networks are inherently sticky: Everyone wants to go where their friends and their favorite influencers already are, which means that large, established incumbents with lots and lots of users will always have an advantage over upstart rivals.

For years, the second theory had the upper hand: Facebook and its subsidiaries dominated the sector and seemed willing and able to buy up or copy any competitors that crossed their path.

But now the momentum seems to be shifting: New, independent social media platforms are starting to proliferate—and thrive—after a few dormant years. TikTok and Clubhouse are the most visible new entrants, but dozens of other nascent contenders are hoping to follow in their footsteps.

Please select this link to read the complete article from Quartz.