The trend: Facebook and Twitter are losing traction in Latin America, which leads the world in social network use, per our latest forecast.
Facebook bleeds: As younger people gravitate to video-centric platforms like TikTok, Facebook’s user base will keep falling in Latin America. This year, 2.5 million users will leave the platform, lowering its regional total to 33.71 million. Declines for Facebook will be the worst in Brazil and Mexico, which will account for about 60% of net user losses.
Clipped wings: As Twitter struggles to find its footing in the aftermath of its purchase by Elon Musk, it will also see a significant user exodus. Content concerns and technical issues will decrease its user base in Latin America by 5.4 million between 2022 and 2024.
Advertisers can’t get enough: A fast-growing social media user base makes Latin America a magnet for advertisers.
One to watch: TikTok, despite government bans in some parts of the world, continues to rack up users in Latin America and will be the only social network in the region with double-digit percentage growth this year.