In the fourth quarter of 2024, Meta's net income amounted to 20.8 billion U.S. dollars, up from 15.7 billion when compared to the previous quarter.Facebook company informationFacebook is the biggest social network worldwide. The platform generates the vast majority of its revenues through advertising – as of March 2020, 98 percent of Facebook’s revenues were derived from ad sales, making the company highly dependent on market regulations regarding digital ad sales. In 2019, Facebook was second only to Google in terms of digital advertising revenues. The company’s ad revenue during this period amounted to 69.7 billion U.S. dollars. Facebook is still among the fastest-growing tech companies in the world. In 2020, the company increased its revenue by 21.6 percent compared to the previous year. Facebook founder Mark Zuckerberg also ranks among the richest internet billionaires with a personal net worth of roughly 97 billion U.S. dollars.

In 2024, Meta Platforms generated a revenue of over 164 billion U.S. dollars, up from 134 billion USD in 2023. The majority of Meta’s profits come from its advertising revenue.Meta’s total Family of Apps revenue for 2022 amounted to 114 billion U.S. dollars. Additionally, Meta’s Reality Labs, the company’s VR division, generated around 2.1 billion dollars. Meta’s marketing expenditure for 2022 amounted to just over 15 billion U.S. dollars, up from 14 billion U.S. dollars in the previous year. Increasing audience base despite privacy misgivings Meta’s user numbers have continued to grow steadily throughout past years. In the fourth quarter of 2022, there was a total of 3.74 billion worldwide users across all of Meta’s platforms. For this same time frame, the company recorded 407 million monthly active users across Europe. Downloads of Meta’s app Oculus, for which virtual reality headsets are required, increased greatly from 2020 to 2021, reaching a total of 10.62 million downloads by the end of last year. Up until 2021, downloads had grown in a steady manner but from 2020 to 2021, they more than doubled.User numbers have increased despite data security issues and past controversy such as the Cambridge Analytica scandal in 2018. There remains skepticism surrounding the idea of the metaverse in which Meta aims to immerse itself. Of surveyed adults in the United States, the majority said that they were concerned about their privacy if Meta were to succeed in creating the metaverse.

In 2024, Meta's annual net income was 62 billion U.S. dollars, up from 39 billion USD in 2023. Meta's net income increased from 18.4 billion U.S. dollars in 2018 to 29.1 billion U.S. dollars in 2020, following the COVID-19 pandemic, subsequent lockdowns, and increased social media and internet usage. Overall, Meta's 2022 net income was closer to pre-pandemic figures.

In 2024, the brand value of Facebook amounted to 75.7 billion U.S. dollars. A year earlier, the value stood at 59 billion dollars, which marked an annual increase of over 28 percent.

The impressive growth of social media companies in the early 2010s made many founders extremely wealthy. Facebook founder Mark Zuckerberg is the world’s richest social media entrepreneur with a personal net worth of 117 billion U.S. dollars. Zhang Yiming, the creator of TikTok, is worth 43.4 billion U.S. dollars. Social media companies going public and being acquired The years between 2010 and 2019 saw a flurry of social media companies filing for an initial public offering (IPO) or being acquired by bigger, public companies, generating significant amounts of wealth for their founders and early employees in the process. Facebook, which went public in May 2012, had the biggest IPO in tech and internet history until online shopping giant Alibaba went public in 2014. Many of the richest social media entrepreneurs are connected to Facebook and most of their net worth is derived from their early investment and subsequent ownership stake in the social network. Many early Facebook investors and co-founders have used their earnings from the company to increase their wealth derived from tech. Some, such as Dustin Moskovitz, have gone on to found other companies, whereas others, like Eduardo Saverin, have become venture capitalists. The social media era Other social media company IPOs which created major online buzz include Twitter’s in 2013, Snap’s initial public offering four years later and more recently, Pinterest’s, which made headlines in early 2019. TikTok's founder Zhang Yiming saw an unprecedented success in 2020 and ranked second on the social media billionaires' list. The coronavirus social restrictions and lockdowns led to people resorting to TikTok as a means of entertainment and socializing. Instagram founders Kevin Systrom and Mike Krieger netted a huge payday in 2012 when Facebook bought their then up-and-coming social network Instagram for one billion U.S. dollars – a sum which at that time was unheard of for such a transaction. However, this is nothing compared to the payout enjoyed by Jan Koum and Brian Acton two years later, whose chat service WhatsApp was acquired by Facebook for a staggering 19 billion U.S. dollars – although the Facebook-Instagram deal arguably made bigger waves across the industry. In hindsight, Facebook’s acquisition of Instagram has come to represent a turning point in tech venture capitalism, helping to define the concept of tech “unicorns” and positioning an acquisition-enabled exit as a viable and lucrative target for start-ups.

The net income of Fb Financial with headquarters in the United States amounted to 120.24 million U.S. dollars in 2023. The reported fiscal year ends on December 31.Compared to the earliest depicted value from 2019 this is a total increase by approximately 36.43 million U.S. dollars. The trend from 2019 to 2023 shows, however, that this increase did not happen continuously.

Meta Platforms, formerly known as Facebook Inc., continues to dominate the digital landscape with impressive financial growth. In 2024, the company's annual revenue reached a staggering 164.5 billion U.S. dollars, marking a significant increase from 134.9 billion U.S. dollars in the previous year. This upward trajectory reflects Meta's ability to monetize its vast user base across multiple platforms, solidifying its position as a tech giant. Advertising remains the primary revenue driver The bulk of Meta's revenue stems from its advertising operations, particularly within its Family of Apps segment. In 2024, this segment, which includes Facebook, Instagram, Messenger, and WhatsApp, generated 162 billion U.S. dollars. Despite a slight dip in 2022, Meta's advertising revenue has shown remarkable resilience and growth potential. User engagement and global reach The company's global influence is further illustrated by the fact that every minute, 138.9 million Reels are played on Facebook and Instagram, showcasing the ongoing evolution of user engagement within the Meta ecosystem.

Facebook’s efforts to monetize its users have vastly differing results across global regions. In the fourth quarter of 2023, Facebook's average revenue per user (ARPU) in the Asia Pacific region was 5.52 U.S. dollars. This result pales in comparison to the combined U.S. and Canada market, where Facebook’s APRU amounted to 68.44 U.S. dollars.

Facebook revenue Facebook accumulated an impressive 69.66 billion U.S. dollars in annual ad revenues in 2019. The social network generates the majority of its revenues via social media marketing and advertising. Almost all of Facebook's ad revenue is generated via mobile – a staggering 92 percent in 2018.

Facebook is the biggest social media platform worldwide and the platform’s annual revenue in 2019 amounted to 70.7 billion U.S. dollars. Despite Facebook’s impressive growth, the company still lags behind other online companies in terms of total revenue. The company stated in its 2018 10K filing that it was dependent on the retention and engagement of its users, which has become increasingly difficult in the North American market.

Facebook usage concerns in North America With various user data controversies such as the Cambridge Analytics scandal in early spring, Facebook had a tumultuous 2018. A significant portion of U.S. Facebook users have come to rethink their Facebook usage. An April 2018 survey of adults in the United States that almost a third of respondents planned on using Facebook much less in the future. It is estimated that the average daily time spent on Facebook will stagnate at around 38 to 37 minutes per day. In comparison, Facebook-owned photo sharing app Instagram is projected to increase daily user engagement to 29 daily minutes in 2021.

United States FA: CC: Mfg: NG: FB: Food Manufacturing data was reported at 444.635 USD bn in 2023. This records an increase from the previous number of 428.237 USD bn for 2022. United States FA: CC: Mfg: NG: FB: Food Manufacturing data is updated yearly, averaging 89.703 USD bn from Dec 1947 (Median) to 2023, with 77 observations. The data reached an all-time high of 444.635 USD bn in 2023 and a record low of 8.020 USD bn in 1947. United States FA: CC: Mfg: NG: FB: Food Manufacturing data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s United States – Table US.A127: NIPA 2023: Net Stock of Private Fixed Assets: by Industry: Current Cost.

United States FA: HC: Mfg: NG: FB: Food Manufacturing data was reported at 292.553 USD bn in 2023. This records an increase from the previous number of 274.047 USD bn for 2022. United States FA: HC: Mfg: NG: FB: Food Manufacturing data is updated yearly, averaging 53.979 USD bn from Dec 1947 (Median) to 2023, with 77 observations. The data reached an all-time high of 292.553 USD bn in 2023 and a record low of 4.672 USD bn in 1947. United States FA: HC: Mfg: NG: FB: Food Manufacturing data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s United States – Table US.A127: NIPA 2023: Net Stock of Private Fixed Assets: by Industry: Historical Cost.

During the fourth quarter of 2023, the number of daily active users on Facebook reached 2.1 billion, a minor increase on the previous quarter. When compared with the number of daily active users in the final quarter of 2022, the platform has gained around 100 million users. Facebook’s penetration rate for the United States in 2023 was 72.13 percent, up from 71.43 percent in 2022. The social network’s audience reach is projected to stand at 75.79 percent by 2027.

Most popular social media websites

As of May 2021, Facebook was the most used social media site in the United States, accounting for 71.8 percent of all social media visits. Ranking in second place was Pinterest with 12.4 percent, followed by Twitter and Instagram, with 9.15 percent and 3.82 percent, respectively. Although other sites remain popular, Facebook’s number of visits made it undoubtably the leading social media platform in terms of social media site visits.

For Generation Z and Millennials in the United States, Facebook was one of the least popular platforms used to connect with others. Gen Z and Millennials preferred video sharing platforms, specifically Snapchat, TikTok and YouTube.

Meta’s revenue

Facebook Inc was renamed as Meta in 2021, in a strategic step toward the metaverse. Meta Platforms is now the parent company of Facebook, Instagram, Facebook Messenger and WhatsApp amongst others, together being known as Meta’s Family of Apps.

Meta’s annual revenue for 2021 was 117.92 billion U.S. dollars, up from 85.97 billion in 2020. Within a decade, the company has increased its annual revenue by approximately 114 billion U.S. dollars. In the most recent fiscal year, Meta’s Family of Apps were responsible for over 115 billion U.S. dollars’ worth of Meta’s revenue.

United States Assets: Flow: CDC: FB: Other Financial Business data was reported at 9.997 USD bn in Sep 2024. This records an increase from the previous number of -7.884 USD bn for Jun 2024. United States Assets: Flow: CDC: FB: Other Financial Business data is updated quarterly, averaging 0.000 USD bn from Dec 1951 (Median) to Sep 2024, with 292 observations. The data reached an all-time high of 100.455 USD bn in Mar 2020 and a record low of -25.034 USD bn in Jun 2023. United States Assets: Flow: CDC: FB: Other Financial Business data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.AB040: Funds by Instruments: Flows and Outstanding: Checkable Deposits and Currency.

Azerbaijan Industrial Production: Value: Mfg: FB: Food Products data was reported at 4,547.600 AZN mn in 2023. This records a decrease from the previous number of 4,890.900 AZN mn for 2022. Azerbaijan Industrial Production: Value: Mfg: FB: Food Products data is updated yearly, averaging 1,317.950 AZN mn from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 4,890.900 AZN mn in 2022 and a record low of 38.500 AZN mn in 1994. Azerbaijan Industrial Production: Value: Mfg: FB: Food Products data remains active status in CEIC and is reported by The State Statistical Committee of the Republic of Azerbaijan. The data is categorized under Global Database’s Azerbaijan – Table AZ.B006: Industrial Production: Value.

Azerbaijan Industrial Production: Value: Mfg: FB: Tobacco Products data was reported at 949.300 AZN mn in 2023. This records an increase from the previous number of 768.900 AZN mn for 2022. Azerbaijan Industrial Production: Value: Mfg: FB: Tobacco Products data is updated yearly, averaging 23.700 AZN mn from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 949.300 AZN mn in 2023 and a record low of 2.200 AZN mn in 1994. Azerbaijan Industrial Production: Value: Mfg: FB: Tobacco Products data remains active status in CEIC and is reported by The State Statistical Committee of the Republic of Azerbaijan. The data is categorized under Global Database’s Azerbaijan – Table AZ.B006: Industrial Production: Value.

South Korea HIES: OH: AME: Nominal: CS: FB: Processed Meat data was reported at 15,912.735 KRW in 2024. This records an increase from the previous number of 13,925.626 KRW for 2023. South Korea HIES: OH: AME: Nominal: CS: FB: Processed Meat data is updated yearly, averaging 12,690.155 KRW from Dec 2019 (Median) to 2024, with 6 observations. The data reached an all-time high of 15,912.735 KRW in 2024 and a record low of 9,749.645 KRW in 2019. South Korea HIES: OH: AME: Nominal: CS: FB: Processed Meat data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.H061: 2019 Household Income and Expenditure Survey: 1 or more Members: Other Households: Nominal.

South Korea HIES: OH: AME: Nominal: CS: FB: Cereal data was reported at 19,889.321 KRW in 2023. This records a decrease from the previous number of 21,038.435 KRW for 2022. South Korea HIES: OH: AME: Nominal: CS: FB: Cereal data is updated yearly, averaging 22,521.183 KRW from Dec 2019 (Median) to 2023, with 5 observations. The data reached an all-time high of 24,260.036 KRW in 2021 and a record low of 19,889.321 KRW in 2023. South Korea HIES: OH: AME: Nominal: CS: FB: Cereal data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.H061: 2019 Household Income and Expenditure Survey: 1 or more Members: Other Households: Nominal.

South Korea HIES: OH: AME: 2020p: CS: Food and Beverages (FB) data was reported at 336,738.587 KRW in 2023. This records a decrease from the previous number of 345,285.453 KRW for 2022. South Korea HIES: OH: AME: 2020p: CS: Food and Beverages (FB) data is updated yearly, averaging 345,285.453 KRW from Dec 2019 (Median) to 2023, with 5 observations. The data reached an all-time high of 368,161.170 KRW in 2020 and a record low of 335,660.669 KRW in 2019. South Korea HIES: OH: AME: 2020p: CS: Food and Beverages (FB) data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.H063: 2019 Household Income and Expenditure Survey: 1 or more Members: Other Households: Real: 2020p.

South Korea HIES: AH: AME: Nominal: CS: FB: Meat data was reported at 62,821.999 KRW in 2023. This records a decrease from the previous number of 63,163.971 KRW for 2022. South Korea HIES: AH: AME: Nominal: CS: FB: Meat data is updated yearly, averaging 62,821.999 KRW from Dec 2019 (Median) to 2023, with 5 observations. The data reached an all-time high of 65,153.971 KRW in 2021 and a record low of 48,711.942 KRW in 2019. South Korea HIES: AH: AME: Nominal: CS: FB: Meat data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.H053: 2019 Household Income and Expenditure Survey: 1 or more Members: All Households: Nominal.

South Korea HIES: OU: AME: Nominal: CS: FB: Salted, Dried Fish & Shellfish data was reported at 7,204.951 KRW in 2023. This records an increase from the previous number of 6,768.990 KRW for 2022. South Korea HIES: OU: AME: Nominal: CS: FB: Salted, Dried Fish & Shellfish data is updated yearly, averaging 6,965.470 KRW from Dec 2019 (Median) to 2023, with 5 observations. The data reached an all-time high of 7,204.951 KRW in 2023 and a record low of 6,680.852 KRW in 2019. South Korea HIES: OU: AME: Nominal: CS: FB: Salted, Dried Fish & Shellfish data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.H073: 2019 Household Income and Expenditure Survey: 1 or more Members: Other Urban Households: Nominal.

South Korea HIES: OU: AME: Nominal: CS: FB: Processed Fish and Shellfish data was reported at 8,603.514 KRW in 2023. This records an increase from the previous number of 7,664.926 KRW for 2022. South Korea HIES: OU: AME: Nominal: CS: FB: Processed Fish and Shellfish data is updated yearly, averaging 7,993.208 KRW from Dec 2019 (Median) to 2023, with 5 observations. The data reached an all-time high of 8,603.514 KRW in 2023 and a record low of 6,505.610 KRW in 2019. South Korea HIES: OU: AME: Nominal: CS: FB: Processed Fish and Shellfish data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.H073: 2019 Household Income and Expenditure Survey: 1 or more Members: Other Urban Households: Nominal.