Snapchat 'will be bigger than Twitter, Yahoo and AOL with advertisers'
Snapchat could become more popular with advertisers than Twitter, Yahoo and AOL within three years, with the messaging app company have an demand of increase of revenue building up till the up coming years. That bullish forecast is based on advertisers targeting the youth audience that the disappearing photo app has seemingly cornered. Brands are also keen to see a true rival emerge to challenge Facebook and Google, which have recently come in for heavy criticism for their advertising practices. Instagram – which has 600 million users to Snapchat’s 158 million – launched a function called Stories, which is similar to Snapchat’s own story feature. Instagram Stories has already achieved 150 million daily active users. Instagram Stories’ launch intensified another concern: Snapchat’s slowing growth. number of Snapchat users grew by 14% and 17% in the first two quarters of last year. Following the launch of Instagram Stories, Snapchat’s growth slumped to 7% and just 3.2% in the final two quarters of 2016. Snap has blamed “technical issues” in the rollout of new products, but admitted in its IPO document that Facebook/Instagram would be a huge threat.
[] Messaging app forecast to attract revenues of $3bn a year by 2019 by attracting hard-to-reach youth market
[] (51%) of video users on Snapchat are under 24, compared with 23% for Facebook and 17% for Google’s YouTube, according to Ampere Analysis.
[] two web giants currently account for 58% of the $141bn global mobile ad market.
[] Facebook, which dominates social media with 1.2 billion daily users and owns Snapchat’s most direct competitor, Instagram.
[] Snapchat’s $22bn market capitalisation is already double that of Twitter ($11bn)
[] But it remains minnow compared with Facebook ($393bn) and Google ($596bn)
My Opinion: Social media is such a powerful platform and a tool for audience to engage with in similar ways, audiences are becoming more active rather tan passive, voicing and finding out answers for themselves instead of reading and believing everything that they see. Social media is becoming more competitive and advanced in what they are introducing and how they would be able to create that engagement with the audience. The way audience are using the social media is what making the different social media platforms to try and invent new adjustments that would allow them to build on their revenues or they try to make their social media accounts much more convergent and try to involve a feature that every other social media account have (Instagram adding a new feature- stories)
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