Facebook continues to copy features of Snapchat resulting in Snap’s stocks to struggle. But Evan Spiegel’s social media platform is winning in a critical area — young users.
In a new report, it revealed that Snapchat is the third most preferred app among those younger millennials, aged 18 to 24, in the US. It’s two spots ahead of Facebook-owned Instagram.
This report came a few days after a report showed that Snapchat would be bigger than Instagram and Facebook in America at the end of 2017. But it’ll be popular among 12 to 24-year-olds.
However, when you look at the total number of users, Instagram is still winning overall as it garners 400 million users a day, while Snapchat has only 173 million.
Since going public, Snap struggles in the New York Stock Exchange. However, the company promised that it could capture teen users who are no longer using Facebook.
Despite the report, it still doesn’t change Snap’s user growth. It’s still slow, and the revenue isn’t as high as everyone was expecting.
However, with this report, it might soothe investors because it means that Snap is competing with Facebook in some important demographics.
It also means that Snap dominates the US app scene. Facebook was once a popular choice among those who are 18 and older. It’s still used by the majority of mobile app users.
In the US and the UK, Facebook’s growth continues to slow down because of lessening use among teens and young adults. Analysts expect usage rates of Instagram and Snapchat to increase by double digits.
But it’s not all bad news for Mark Zuckerberg and his team because, as mentioned earlier, the social network’s monthly users grow 2.4 percent this year as a result of the platform’s popularity among older Internet users.
Analysts are expecting to see teens and tweens to migrate to Instagram and Snapchat. These platforms are popular among these people because they offer a tool that aligns with their way of communication, i.e., visual content.
The users who remain on Facebook don’t engage well. That is, they log in less frequently. They also spend less time on the platform.