Leading social media platforms in Hong Kong 2024, based on market share
As of July 2024, X (Twitter) held a market share of more than 33 percent in Hong Kong's social media scene in terms of pageviews across all devices. Facebook and YouTube followed, with the former losing market share and the latter gaining market share compared to a year ago. The American social news and discussion website Reddit has gained traction since the anti-government protests in the city in 2020.
Facebook is losing ground
A few years before 2017, Facebook controlled over 80 percent of the social media arena in Hong Kong. The drastic change started in 2018, when the networking site lost nearly 11 percentage points and another 19 percentage points in the following year. For many Gen Z and Millennials in the financial hub, Instagram became the favorite social media platform and YouTube was used more often than Facebook. Facebook was still the second place to go after Instagram for product research, it has been losing its appeal among young users and advertisers.
Platforms claiming the new spots
When it came to advertising audience size, X (Twitter) took the lead. YouTube came in second, however, its ad reach in Hong Kong was among the lowest in the Asia-Pacific region. In comparison, the fourth placeholder Instagram has been picking up steam, reaching 51.6 percent of internet users in Hong Kong. However, the biggest industry threat was TikTok, the most downloaded social media app in Hong Kong as of the time of writing. TikTok’s rising popularity among teenage users may probably change the game of video consumption.
