Twitter’s largest international market
Japan is Twitter’s (TWTR) largest international market, contributing close to 40% of the company’s international revenue in the first quarter. Twitter held 25.1% of the social media market in Japan in March compared to 29.6% for Pinterest (PINS), according to StatCounter data. Facebook (FB), YouTube, and Instagram held a 22.5%, 14.6%, and 5.6% share of the Japanese social media market in March, respectively. YouTube is owned by Google (GOOGL), whereas Instagram is another Facebook property. Verizon’s (VZ) Tumblr held a 1.3% share of the social media market in Japan in March.
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Pinterest is taking market share from Twitter in Japan
While Twitter is one of the leading social media services in Japan, the company seems to be losing a grip on the country’s social media market. In February, Twitter held 35.8% of the social media market in Japan at a time when Pinterest’s market share was at 18.4%. In January, Twitter’s share of the Japanese social media market was 53.6%, making it the clear leader, whereas Pinterest’s market share was at 13.3% in that month.
Pinterest operates a digital platform where people share inspirational images. The company went public this month alongside videoconferencing provider Zoom (ZM). Both companies’ stocks soared on their debut.
Twitter’s Japan revenue increased 16%
Twitter’s revenue from Japan increased 16% YoY to $136 million in the first quarter. Japan contributed 17% of Twitter’s worldwide revenue in that quarter.