Snapchat: the smash hit app that rivaled Instagram for a while seems to be facing competition. Although user numbers are up (beating the forecast even), revenue growth is slowing down. The reason: advertising.
The company cites privacy changes to iOS as one of the drivers behind slower growth of advertising revenue, something I’ve written about before
To be honest, I was surprised that the daily active users of Snapchat were increasing this rapidly still. In my friend group people rarely use it, if at all, or have uninstalled it entirely.
It’ll be interesting to see where Snapchat is headed next. The social media landscape is definitely changing after the introduction of short form video content by TikTok. What would it look like in 10 years?