Penetration rate of major social media in Hong Kong 2023
The social media industry in Hong Kong has gone from strength to strength, and WhatsApp remained the top with a 78 percent monthly usage rate as of the third quarter of 2023. Facebook lost its dominance in the market with a 77 percent penetration rate, followed by Instagram.
Facebook in Hong Kong
Facebook is not just used for staying connected with friends and family; many in the financial hub also use it to keep up with the latest news and to research or find products to purchase. With such a high user penetration rate, Facebook has been particularly focused on brand advertising and user engagement. Mobile advertising accounted for a large chunk of Facebookâs global advertising revenue. In Hong Kong, social media advertising grew by 12 percent while Facebook's ad revenue increased by four percent in the third quarter of 2022.
The high internet quality
It comes as no surprise that a large percentage of the population in the Asian financial hub are active social media users. Hong Kong citizens are known for being well connected in the social media world. It consistently ranks as having one of the fastest internet connections worldwide - as of April 2023, Hong Kong had an average fixed broadband internet connection speed of 205.19 Mbps.Facebook in Hong Kong
Facebook is not just used for staying connected with friends and family; many in the financial hub also use it to keep up with the latest news and to research or find products to purchase. With such a high user penetration rate, Facebook has been particularly focused on brand advertising and user engagement. Mobile advertising accounted for a large chunk of Facebookâs global advertising revenue. In Hong Kong, social media advertising grew by 12 percent while Facebook's ad revenue increased by four percent in the third quarter of 2022.
