REUTERS - Snapchat shares plunged ~40% and sparked a sector-wide selloff after a profit warning from the parent signaled tough times ahead for the once-booming digital ad industry. The company was on track to lose $15B in market capitalization, while shares of major online advertisers and social-media firms were set to lose a combine $200B in value from the rout. Snap shares closed at $12.79, lower than their 2017 IPO price of $17.
40 posts categorized "SnapChat"
Snapchat Stocks Lose Billions After Its Parent Warning
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Forecast: TikTok Revenues to Surpass Twitter/Snapchat Combined
ADVANCED TELEVISION - TikTok's worldwide ad revenues will triple this year, according to Insider Intelligence's inaugural forecast on TikTok ad revenues. TikTok will have ~$1.641B in ad revenues in 2022, with ~50% coming from the US. That means its ad business will be greater than Twitter's ($5.58B) and Snapchat's ($4.86B) combined. By 2024, at the end of the forecast period, TikTok's ad revenues will swell to $23.58B, essentially equivalent to YouTube's ($23.65B). Each company's worldwide digital ad market share will be 3.1%.
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Snapchat to Let Users Share Videos Directly From YouTube App
THE FREE PRESS JOURNAL - Snapchat announced that users across iOS and Android can now share YouTube videos directly to the platform. This is the first time that YouTube links can be shared visually to Snapchat Stories and one-on-one Snaps while still accessing the Camera and full suite of Snapchat Creative Tools for self-expression. "Our tappable YouTube stickers bring Snapchatters directly to the video within the YouTube app or in their preferred mobile browser," the company said.
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Snapchat Will Let Users Change Username Starting Feb 23
TECH CRUNCH - Snapchat says all iOS and Android users globally will be able to change their usernames starting Feb 23. The username change won't impact aspects of users' accounts.
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Snapchat Will Introduce Revenue Sharing on Ads in Creators' Stories
TECH CRUNCH - Snapchat announced that it plans to introduce mid-roll advertisements during Snapchat stories for Snap Stars (Snapchat's biggest creators, who must apply for the Snap Star distinction). These ads will appear as mid-roll ads inside their stories, and the creator will earn a share of the ad revenue. That payout is determined by a payment formula, which weighs factors like posting frequency and audience engagement.
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Snapchat Rolls out New Safety Feature for Teens
SIASAT - Snapchat introduces a new safety feature for teens that will limit the friend suggestions they see in the application. The company is making it more difficult for adult strangers to locate kids on its app by limiting friend recommendations in its 'Quick Add' feature.
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TikTok Surpasses Snapchat and Twitter's User Numbers
ADVANCED TELEVISION - TikTok has surpassed Snapchat and Twitter in global user numbers, cementing itself as the No. 3 worldwide social platform behind Facebook and Instagram. There will be 755M monthly TikTok users in 2022. This number grew 59.8% in 2020 and will increase an additional 40.8% in 2021. While that growth will slow, it will remain high at 15.1% in 2022.
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1 in 5 Portuguese Users Gives up Social Network
TELECOM PAPER - A new Marktest study on social networks has shown that 19.6% of users in Portugal have abandoned a network in the last 12 months. The rate is much higher among the youngest users, rising to 34.3%. Most users indicated that they stopped using Facebook (26.0%), followed by Snapchat (25.2%), with a lack of interest given by 36.8% as the main reason.
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Snapchat Introduces Monetized Challenges to Compete With TikTok
9TOMAC - Snapchat announced a new way to let creators monetize their content through "Spotlight Challenges." In an attempt to compete with TikTok, Snapchat will now pay cash prizes to encourage "Snapchatters" to create content on the social network. Cash prizes range from $250 to $25K, although the company says that larger prizes will be offered for specific challenges.
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Snapchat Acquires Vertebrae to Enhance Its In-App AR Shopping Experience
NEWS18 - July 23 - Snapchat's parent company, Snap Inc, has just bought Vertebrae, a firm specializing in 3D product modeling. The acquisition of Vertebrae follows the previous purchase of WaveOptics, Fit Analytics, and Screenshop. Vertebrae is a company that brings products to life virtually with 3D versions. AR allows apps and businesses to bring a virtual version of reality to consumers' devices.
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Snap Acquires AR Optical Parts Maker WaveOptics for Reported $500M+
SILICON ANGLE - May 24 - Snap Inc. is spending ~$500M to acquire WaveOptics, a U.K.-based maker of displays and other optical components for AR glasses. Snap will pay half the acquisition price upfront and the rest 2 years from now in either cash or stock. WaveOptics makes waveguides, thin pieces of glass that function as the display of AR glasses. Snap uses WaveOptics-designed displays in the new generation of its Spectacles AR glasses that debuted this week.
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Snap Now Has 500M MAU
AXIOS - May 21 - Snapchat debuted a slew of new products and user metrics for things like games and AR lenses that have been built using Snapchat's developer tools. 250K developers are registered to use Snap's developer tools, "Snap Kit," which helps developers build and distribute AR lenses. 200M people use Bitmoji stickers every day. 1B Bitmojis are sent per day. ~34M Bitmoji stickers are available to developers in a new "Bitmoji Developer Kit" that allows developers to insert Bitmoji stickers into their keyboards for their own apps. ~30M users play games on the app per month. Snapchat's first game, "Aqua park," has reached 45M players to date. ~250M people use Snapchat's "Snap Map" monthly. It now has ~30M businesses on the map. ~135M people use Snapchat's TikTok rival feature "Spotlight." ~5.4K creators have collectively earned ~ $130M from payouts Snapchat has awarded to viral video makers. ~2M AR lenses have been created by Snapchat users using Snap's developer tools. Those lenses have been viewed by Snapchat users ~2T times. The company also debuted new "Spectacles," 3D glasses that feature AR technology. There are ~500M MAU on Snapchat.
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Report Finds Many Americans Rely on Social Media for News
MEDIAPOST - Jan 13 - 53% of Americans get their news from social media at least some of the time, but an increasing percentage of them feel it is making them more confused about current events. That's the finding of a new report from the Pew Research Center, which has been tracking Americans' use of social media for news for several years. The report suggests that social media is becoming a less reliable source of news for many Americans. Not surprisingly, Facebook is the primary social media source of news, with 36% of Americans citing it the social network as a "regular source" for news, followed by YouTube (23%), Twitter (15%), Instagram (11%), Reddit (6%), Snapchat (4%), LinkedIn (4%), TikTok (3%), WhatsApp (3%), Twitch (1%) and Tumblr (1%).
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Google and Snap in Talks To Invest in India's ShareChat
TECH CRUNCH - Jan 5 - ShareChat, a Bangalore-based social network that added Twitter as an investor in 2019, is in advanced stages of talks to raise money from Google and Snap, as well as several existing investors, including Twitter, three sources familiar with the matter. ShareChat has raised about $264 million to date and was valued at nearly $700 million last year. Ankush Sachdeva, co-founder, and chief executive of ShareChat, said the app was growing "exponentially" and that users were spending, on average, ~30 mins on the app each day. If the deal goes through, it would be the first investment from Snapchat's parent company into an Indian startup.
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Social Networks Will Experience a Pandemic-Driven Boost in 2020
EMARKETER - Dec 22 - In 2020, there will be ~150M more social network users worldwide than expected before the pandemic. That will lift the total to 3.23B. As a result, nearly 81% of internet users worldwide will be social network users this year. Facebook will continue to dominate global social networking, which will post an 8.7% growth in global user numbers in 2020. Instagram will see the biggest percentage increase of any platform worldwide this year, growing its user base by 22.9%. Snapchat will see global user numbers rise by 16.1%. And twitter growth will be steady (8.4% in 2020).
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