Tech companies are migrating away from traditional Twitter and Facebook, and moving into new platforms, including Slack and the social networking service Facebook.
We talked to several people in the industry about why, and what’s behind it.
Read next: How the Facebooks of the world are changing the way we share storiesAnd the good news is, it’s not just about the money.
According to a new study by a firm called the McKinsey Global Institute, social media platforms have a significant impact on our lives.
McKinsey found that 80% of companies surveyed use social media to manage their networks, and they’ve also been found to generate $2.5 trillion in revenue each year.
And McKinsey also found that the vast majority of social media users don’t spend a dime on ads.
In fact, McKinsey says that about half of all social media owners are non-profits, meaning they’re not charging advertisers to reach their users.
In the study, McKinseys researchers used a different measure of social content, called the “average social media engagement,” which looked at the amount of time each person engaged with a specific social network over the course of a year.
In the first half of 2017, McKinys researchers found that for every one Facebook likes, a social media user spent 1,066 hours on social media, or 2,700 hours over a year, and the average time spent was 4,700 days.
The study also found more than 30% of Facebook users said they would like to use another social media platform, while more than a third of Instagram users and just under half of Pinterest users said the same.