Social Media Platform App Business

Business Idea: Start A Social Media Platform App Business in 2024

Pat Walls

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Updated: October 2nd, 2024

Avg Monthly Revenue

$8.25K

Avg Startup Costs

$19.4K

Market Size

$143B

Avg Revenue

$8.25K/month

Avg Days To Build

350 days

Market Size

$143B

Avg Revenue

$8.25K/month

Avg Days To Build

350 days

Want to create meaningful digital connections? Start a social media platform app business. This venture involves developing a mobile application where users can connect, share content, and engage with each other.

You'll begin by identifying a niche or unique feature that sets your platform apart from giants like Facebook or Instagram. Next, you'll need to work on app development—coding, testing, and designing a user-friendly interface.

Monetization strategies could include targeted advertising, premium memberships, and in-app purchases. The potential user base is vast, and with thoughtful marketing, you can attract a dedicated community.

Building a social media platform isn't a small task, but the rewards can include both financial success and the satisfaction of creating a space for people to connect. If you're drawn to tech and community-building, this could be the ideal business for you.

Revenue & Profitability

How much do social media platform app businesses make?

On average, successful social media platform app businesses report $99K/year in revenue.

Startup Costs

How much does it cost to start a social media platform app business?

It can cost as low as $100 to start a social media platform app business.
It can cost as high as $42,500 to start a social media platform app business.

Learn more about the costs of a social media platform app business.

Successful social media platform app business businesses and case studies

We Started a $174K/Year Social Commerce Platform During Lockdown

FriendsWith, a social commerce platform with a built-in affiliate rewards program for premium fashion and lifestyle brands, saw a 300% increase in app users since launching in August 2020 and estimates bringing in $200,000 in revenue for the next financial year, with a focus on attracting shopping enthusiasts to become "influencers" to start a side hustle with no overhead costs.

$14.5K Monthly Revenue

$42.5K Startup Costs

Read by 3,087 founders

I Learned To Code And Launched A Social Media Scheduling Platform [$2K/Month]

Pallyy, a social media scheduling platform built for social media agencies and managers, achieved almost 100% growth in the last three months, from $1300 MRR to $2450 MRR, after founder Tim Bennetto shifted focus to a particular niche of users and built new features, although he admitted to naming and branding mistakes.

$2K Monthly Revenue

$100 Startup Costs

Read by 5,827 founders