Over $17.7 billion will be spent annually on social apps by 2025 according to a new report by mobile data and analytics firm App Annie.

The firm predicts annual spending in the market to grow by roughly 30 per cent every year, up from $1.2 billion in 2020.

The social app download base is expanding rapidly, there were 4.7 billion downloads of social apps in H1 2021 according to the report, and there is now a total social app download base of 74 billion.

India is the top market for social app downloads by a factor of five; the nation surpassed the US in 2018.

The US, Indonesia, Brazil, and China take second, third, fourth, and fifth place respectively in terms of downloads.

However, in terms of spending the US, Japan, and China account for 60 per cent of the social app market.

Around $22.2 billion has been spent on social apps to date according to App Annie.

YouTube, Facebook, WhatsApp Messenger, Instagram, TikTok, Facebook Messenger, Truecaller, Netflix, Twitter, and MX Player were the most popular social apps in terms of screen time worldwide according to the report, in that order.

The report also claimed that YouTube and TikTok now outperform Disney+ and Netflix in terms of consumer spend.

YouTube, TikTok, Disney+, Tencent Video, BIGO LIVE, Twitch, HBO Max, iQIYI, Netflix, QQ Music were top applications in terms of consumer spending according to App Annie.

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