Snap Inc. revealed that their increasing number of daily users from past months is slowing down

While there are many businesses and various industries that suffered the pandemonium that the coronavirus outbreak has brought, there are other companies who are more than striving, thanks to services dedicated to cater demands from homes. Snapchat, the camera filter-slash-multimedia sharing platform, is starting to see a slowdown in their increasing user base.

Increase in Subscribers

Snapchat, a multimedia messaging app, reported an increase in its number of active users on the first quarter, when compared on the same timeframe from last year. March was when the current health crisis mostly put people on their homes as lockdowns are implemented with the beginning of the outbreak. The company, Snap Inc., claimed to saw a 20 percent growth in the users, which unfortunately the growth is now slowing down. Shares for the socmed company saw 9 percent decrease in premarket trading.

About 238 million were using Snapchat on a daily basis on three months leading to June, which is 17 percent higher than from last year’s same timeframe. In April while on earnings call, Snap projected a figure of 239 million subscribers. 

Snap Users Slowing Down

According to Snap, the decrease in the widening user base still proceeds even when attempts to reopen some places are pushed back. Speaking to analysts, Derek Andersen, chief financial officer of the company, told: “At the onset of widespread shelter in place orders, as people sought to stay connected and entertained from home, we observed an increase in daily active users that informed our initial estimate.”

He added that the rise is now beginning to decelerate quicker than they expected. Andersen said, “This initial lift dissipated faster than we anticipated as shelter in place conditions persisted.”

The pandemic has hurt businesses, which also translated to the willingness of companies to advertise. Snapchat relies most of its revenue from advertising. Andersen noted that several industries are limiting their advertising expenses to mitigate the effects of the COVID-19 outbreak. “These challenging circumstances interrupted otherwise robust momentum,” Andersen said.

About the Company

Snapchat, owned by Snap Inc., is a social media company that operates from all over the world. Snapchat is also a multimedia sharing platform that also provides camera services with customizable photos or video clips in its software apps. Currently, it trades with almost $25 per share. In 2017, the company’s share rose to an all-time high of $29.44 per share, according to Forbes.

The post Snap Users Revealed Their Base Starts to Slow Down first appeared on Tekrati and is written by Sam Arnold

Snapchat now allows creators to publicly display their subscriber counts, opening influencers to business with brands on the platform.

If you’re curious about the number of your Snapchat subscribers, the app can now answer you. Now, the company lets creators reveal their subscriber count to the public. For the first time, Snapchat has given users a look into their audiences. 

Snapchat Subscriber Count

Tubefilter reports that users have the choice to display subscriber counts or not. This news comes as part of Snapchat’s series of updates. These updates focus on creators, too. With this update, you can now see how many people subscribe to celebrity accounts. 

Snapchat now lets creators show off their subscriber counts https://t.co/N3i8jRgefo pic.twitter.com/h5Qfsn7frE

— The Verge (@verge) November 3, 2020

Here are the Snapchat creators with the most subscribers:

•     Kylie Jenner (36.4 million)
•     Charli D’Amelio (13.7 million)
•     DJ Khaled (13.4 million)
•     David Dobrik (6.8 million)
•     Donald Trump (1.9 million) 

Snapchat Updates

In September, Snapchat let users create permanent public profiles. These profiles contain a user’s bio, most popular content, and Lens usage. Previously, the app reserved these profiles for verified creators. If you have a public profile, you can let your team members access it. Your team can now manage your account in all aspects. 

Social Media Branding

The Verge reports that Snapchat might be following other social media platforms. For example, brands look at follower counts on Instagram. Follower counts and engagement tell brands how big you are on the app. On the other hand, brands would have to ask creators to share these numbers before signing a deal.

However, since Snapchat has made these numbers public, brands don’t have to take these extra steps. More influencers might start doing business there.

The post Snapchat Makes Subscriber Count Public first appeared on Tekrati and is written by Irene Hawkins

It’s bad news for Snapchat on Tuesday as it failed to add new users despite new COVID-19 lockdowns. The social media company had seen a spike in its users due to the pandemic. As COVID-19 forced millions of people to stay home, more people flocked to social media for diversions. 

Snapchat Breaks Its Winning Streak

However, CNN reports that Snapchat couldn’t maintain its streak. Snap, Snapchat’s parent company, saw its stock drop by 10% Tuesday. They had expected millions of new users to continue coming in, but their numbers slowed down. Derek Andersen noted that the surge tapered off quicker than expected. Andersen is Snap’s chief financial officer. 

Snapchat's spike in users from coronavirus lockdowns has begun to taper off, despite a pause in reopening across many states forcing people to continue staying home https://t.co/43DY7t5bU6

— CNN Business (@CNNBusiness) July 22, 2020

At the height of the pandemic, Snap saw 238 million daily active users. These numbers marked a 17% increase in users from the same period in 2019. However, this year’s figures fell short of their expected 239 million in April. Snap had also notched slower growth than the previous quarter’s 20%.

How Did Snapchat’s User Numbers Fall Off?

COVID-19 disrupted advertising, which makes up much of Snap’s revenue. Marketers cut their ad spending because the pandemic cut off businesses. Andersen also noted that some advertisers decided to “rework” their strategies under COVID-19. 

Can Snapchat Bounce Back?

Snap got back up from this setback by adding more ads on “e-commerce, streaming, and gaming.”  Their ad revenue grew by 17% and added up to $454 million. However, it still fell short of the $462 million earned last year. The company had enjoyed revenue growth of 44%. 

With COVID-19 causing a shakeup in the social media market, Snap could still make moves to bounce back.

The post Snapchat Fails to Maintain User Surge From Covid-19 first appeared on Tekrati and is written by Irene Hawkins

With TikTok facing a US ban, Snapchat looks to regain its grip on the video-sharing market. The company announced Monday that it is now testing a new feature that lets Snapchat users send Snaps with music, like TikTok. Many TikTok users have scattered among similar apps since the US threatened to ban it in the country.

Snapchat Hurries to Take Over

Similar apps to TikTok have soared on the app stores’ charts as TikTok users try to find new homes. These apps include Byte, Triller, Dubsmash, among others. Even Instagram has tried to grab a piece of the pie by launching Reels, another TikTok-like feature.

For Snapchat users, Tech Crunch reports that they can add music before or after recording their videos. Snapchat also promises to give users access to a vast catalog of music since they have inked licensing deals with major US music companies.

Snapchat to take on TikTok with a new music-powered featuring rolling out this fall https://t.co/uimdo7gOq7 by @sarahintampa

— TechCrunch (@TechCrunch) August 3, 2020

So We Can Add Music to Our Snaps, But Is That It?

If you receive a Snap with music, you can swipe up to see the song title, artist name, and album art. Then a “Play This Song” link will appear and allow you to play the full song on Spotify, Apple Music, or Soundcloud. This feature separates Snapchat from TikTok. With TikTok, you can only watch other videos that use the song you like. 

However, TikTok has launched the careers of several artists. Millions of TikTok users follow these famous TikTok artists across music streaming apps.   

Snapchat Connecting Users with Artists

Snapchat plans to use its new music feature to allow fans to connect with new and favorite artists. If you’re a user in the English-language market, you can start using the new feature this fall.

The post Snapchat Tests Out New Music Feature to Beat TikTok first appeared on Tekrati and is written by Irene Hawkins