The COVID-19 pandemic has significantly changed our social lives. Stay-at-home orders and physical distancing guidelines have led to restricted face-to-face interactions. The role of communication technologies has become important more than ever. The present study investigated how people use interpersonal (i.e., phone calling, texting, video chatting) and masspersonal media (i.e., Facebook, Instagram, Twitter) for different purposes (i.e., social connection, entertainment, information seeking) during the pandemic. Further, we examined how such mediated communication is associated with users’ loneliness and, in turn, satisfaction with life. Results showed that people preferred interpersonal media for social connection and masspersonal media for entertainment and information seeking. The use of interpersonal and masspersonal media and its purpose were associated with users’ psychological well-being both positively and negatively. Social use of interpersonal media was associated with decreased loneliness and, in turn, increased satisfaction with life. However, using media for information seeking was associated with increased loneliness and, in turn, decreased satisfaction with life.