Snap’s 750 million monthly active users is impressive, but it falls short of Facebook’s 2.96 billion monthly active users. However, it’s ahead of Pinterest and other social media platforms. This suggests that Snapchat may have potential to compete with larger players in the long-term.
What led to the buyout of Twitter by (Elon Musk’s company) SpaceX? One factor may have been fascination with the company’s namesake,Twitter. However, it seems more likely that SpaceX saw a strategic opportunity in Twitter’s mobile advertising potential and its ability to reach a global audience. After all, over half of Twitter’s daily active users visit on mobile devices. In addition, SpaceX believes that its satellite technology could be used to improve targeting for ads on Twitter, potentially increasing their impact. Overall, then, this is yet another example of how conglomerates are looking beyond traditional markets in search of new opportunities and growth opportunities.
Given that TikTok is estimated to have reached 1 billion monthly active users by the end of 2022, it can be considered one of the most popular social media platforms in the world. Interestingly, this popularity has not gone unnoticed by Google, who has announced that they will be investing $1 billion into the company in order to further its growth. While there are countless other social media platforms available on smartphones and computers, TikTok continues to grow in popularity and remains an essential part of many people’s daily lives
Despite Snapchat’s stated goal of reaching 1 billion people, many users feel the messaging app does not properly cater to or support those in North America. For example, many Snapchat users feel left out when it comes to features such as Stories being promoted heavily in other regions and lack of official support for specific American holidays. Additionally, certain filters and features unavailable in the U.S., like face filters that apply expressions from different cultures, can be seen as limiting by some North American Snapchatters.
The launch of Communities gives users the ability to create private groups where they can share content and connect with friends. This is a feature that is specifically designed for college students, who often need opportunity to connect with others outside of class.
It seems that Snapchat is succeeding in terms of earnings and subscribers, despite some recent scandals. With its $3.99/month paid subscription, Snapchat+ reaching 2.5 million subscribers, and upcoming features like Geofilters and Sponsored Lenses, the company looks set to continue its success in the near future.
Snap is facing a number of challenges in the competitive landscape, including competition from TikTok. However, its investments in its ads business should help it grow rapidly in the coming years. With regard to the future, Snap will likely focus on expanding beyond mobile devices and increasing engagement with users.
Snap expects that its DR platform will continue to be the primary driver of its ad revenue growth in the near term, despite increased costs due to recent changes. The company is investing in various formats and technologies, as well as developing better engagement experiences, in an effort to keep users on its platform longer and convert more leads.
Snap’s recent changes, including increasing the volume of measurable conversions through improved relevance targeting and machine learning optimizations, could help the company continue to grow in popularity. In particular, Targeted Relevance could help Snaps users find relevant content across all its platforms more easily, which could lead to increased engagement and conversion rates.
In recent months, Instagram has faced significant competition from its rival, TikTok. While both platforms are enjoying massive popularity with their users, TikTok is attracting less than half its total monthly active users. In the fourth quarter, however, engagement for this product was still growing. This suggests that there may be an audience for Instagram that is not being reached by TikTok.
Snap Inc. announced that it had registered over 1 billion daily active users and delivered a record net Loss of $361 million for the quarter. In addition, Snap’s stock price plummeted by more than 19% following the announcement and remains at a low point since the company went public in March.
- Snap’s community outside North America and Europe grew more than 80% since Q4 2020.
- 95% YoY increase in daily new users who have three or more friends.
- Snapchat users who talk to at least three friends over the course of a month retain at over 90% in the following month, on average.
- Snapchat users share memories with friends 280 million times per day, on average.
- For the five years after a user’s first year on the service, annualized retention is approximately 90%, on average.
- U.S. users open Snapchat nearly 40x per day on average; over 60% of users who open Snapchat each day create Snaps.
- Over 5 billion Snaps are created every day, on average.
- 88% of users who Snap or chat with a friend will use the app every day for the next seven days.
- Snapchat’s map is used by over 300 million users per month; Daily map users open the map 6x per day on average.
- In Q4, total time spent watching Spotlight more than doubled from the year prior, and Spotlight submissions are up nearly 20% over the same time frame.
- Two out of three users engage with AR daily; over 70% of users who download the app engage with AR during their first day on the app.
- Number of users with at least one friend Story to view has increased 15% YoY.
- U.S. time spent per view for both creator Stories and Spotlight grew by “large” double-digit percentages in Q4 compared with last year.
- Snapchatters subscribing to new creators via Spotlight increased by 225%, and the number of total daily subscriptions increased by 240%.
- In India, time spent on Spotlight more than tripled, and time spent watching Shows increased by over 55% in 2022.
- Media partners in over 20 countries, 10 languages, including NBCU, Disney/ESPN, Channel 4 and MBC, sports leagues like the NFL and NBA, digital natives like Team Whistle and Jellysmack, and news brands including The Washington Post, Axios, and Axel Springer.
- Spotlight reaches over 300 million users per month.
- Since 2021, more than 250 million users engaged with AR shopping Lenses more than 5 billion times.
- Snap’s AR creator community of over 300,000+ creators and developers have built over 3 million Lenses.
Despite the increasing popularity of eSports, there is still a lack of acknowledgement by many in the world of sports.