Social media is still a growing market. But once they've attracted users to their tool, social media companies need to keep them there - and for that they need money.
This is where advertising comes in. Twitter alone has grown to US$641 million in the last quarter, however it's user base has more or less stalled.
Snapchat is another prime example of how this burgeoning market is going to become increasingly key for advertisers. The addition of the 'Discover' and 'Live Stories' applications have allowed companies and media outlets to interact with users on the platform.
Instagram has also been getting involved in the action - extending the length of video ads on the service from 30 to 60 seconds.
This is a huge change; over 3 hours of UK adults' total time online is spent checking various social media. The vast majority of this is on mobile, which has long been an under-used space by the advertising industry.
Advertising has been around for a long time on Facebook, where it has helped the site's revenue sky rocket. However, Facebook's users also became disenchanted with the constant and blatant advertising forced upon them. It will be interesting to see the effect the increase in advertising has on Snapchat, Instagram and Twitter. These are all originally creative platforms, or ways for people to connect. Sure, social media provides a readily available, vast audience base, but is it right for companies to exploit this for their own gain?
The amount of time people spend on their phones every day is, quite literally, jaw-dropping. And considering how much of that time is spent checking in on social networks, it’s no surprise that for some time now, they have been a growing draw for advertisers.