Recently, the National Bureau of Economic Research in the U.S. found that social media users would be willing to stop using TikTok for $59 and Instagram for $47. Many users are eager to escape the social media trap. They indicated they would pay $28 for a universal ban on TikTok and $10 for a ban on Instagram.
This presents a unique opportunity for businesses. New tech companies that are developing social media platforms can allocate their advertising budgets strategically to attract younger users. By offering incentives, they can encourage these users to switch to their platforms, which could help the new media gain popularity and increase their user login numbers.
