More than 97% of all Fortune 500 companies rely on social media, says Entrepreneur. In addition, there are more than 3.78 billion social media users all over the world, they added, a 5% increase year over year. From here, those numbers are only expected to improve. That excitement is creating big opportunity for companies such as
Enthusiast Gaming Holdings Inc.
(TSX:EGLX)(OTCQB:ENGMF),
Facebook Inc.
(NASDAQ:FB),
Alphabet Inc.
(NASDAQ:GOOG),
Twitter Inc.
(NYSE:TWTR), and
Snap Inc.
(NYSE:SNAP).
Look at the growth of TikTok for example. According to Social Media Today, people are spending more time using that platform than they are on Facebook. “TikTok’s average monthly time spent per user grew faster than nearly every other app analyzed, including 70% in the US and 80% in the UK – surpassing Facebook. TikTok is on track to hit 1.2 billion active users in 2021,” as noted by an App Annie report, as also highlighted by Social Media Today.
Right now, according to Oberlo, TikTok has 689 million global users, and has been downloaded over two billion times on the App Store and Google Play. In short, social media growth is only accelerating with no clear signs of slowing.
Enthusiast Gaming Holdings Just Signed a Partnership Deal with TikTok
Enthusiast Gaming Holdings Inc.,
the largest gaming media platform in North America, reaching over 300 million monthly video game and esports fans worldwide, is excited to announce that it has signed an integrated partnership deal with
TikTok
, the leading destination for short-form mobile video. TikTok will leverage Enthusiast Gaming’s vast platform of video game and esports fan communities to help drive adoption and bridge the integration of TikTok within the gaming and esports industry.
The deal is building on the recent success of TikTok’s and Enthusiast Gaming’s partnership at EGLX Digital 2020 virtual expo in November 2020. The expo drew over 12 million views across 53 hours of livestreaming content from November 10-13, 2020.
Partnership activations to be rolled out across Enthusiast Gaming’s platform include:
– Product and logo placement and promotional activity with Luminosity Gaming influencers, social media and a soon to be released video series microsite
– Production of high-impact, co-branded rich media including launch teasers and custom promo video content to be broadcast on Luminosity Gaming’s Twitch account, social media channels and Enthusiast Gaming media properties
“We are delighted to be partnering with TikTok, a revolutionary company that is dominating mobile media, to provide them with an integrated approach to increase awareness and engagement by delivering unique and creative content to our loyal fan communities,” commented Adrian Montgomery, CEO of Enthusiast Gaming. “Our recognition by Comscore as the largest mobile entity in the United States in the Gaming Information category validates the extensive reach we have into the elusive Gen Z and Millennial gaming market. We are excited to work together to create value for the TikTok community.”
Other related developments from around the markets include:
Facebook Inc.
reported
financial results
for the quarter and full year ended December 31, 2020. “We had a strong end to the year as people and businesses continued to use our services during these challenging times,” said Mark Zuckerberg, Facebook founder and CEO. “I’m excited about our product roadmap for 2021 as we build new and meaningful ways to create economic opportunity, build community and help people just have fun.”
Alphabet Inc.
announced
financial results
for the quarter and fiscal year ended December 31, 2020. Sundar Pichai, CEO of Google and Alphabet, said: “Our strong results this quarter reflect the helpfulness of our products and services to people and businesses, as well as the accelerating transition to online services and the cloud. Google succeeds when we help our customers and partners succeed, and we see significant opportunities to forge meaningful partnerships as businesses increasingly look to a digital future.”
Twitter Inc.
announced
financial results
for its fourth quarter and fiscal year 2020. “2020 was an extraordinary year for Twitter. We are more proud than ever to serve the public conversation, especially in these unprecedented times,” said Jack Dorsey, Twitter’s CEO. “We reported a 27% year-over-year increase in mDAU in Q4 2020, reaching an average of 192 million. Our product changes to date are promoting healthier conversations for those who use our service, including advertisers and partners, and we are excited about our plans to continue innovating in 2021.”
Snap Inc.
announced
financial results
for the quarter and full year ended December 31, 2020. “We’re grateful for the opportunity to serve our community and partners through this challenging period of time,” said Evan Spiegel, CEO. “Our team has worked tirelessly to help people stay close with their friends and family even while they are physically apart, and we’re proud of the strong results we delivered for our advertising partners this quarter and over the full year. We delivered our first full year of Adjusted EBITDA profitability and, as we look towards the future, we’re excited to build on our investments in augmented reality, mapping, and content to drive our ongoing growth.”
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