Very Social Network

Snapchat Leads Q3 Social Networking Earnings With Strong Results

YAHOO FINANCE - 7 The analysis of Q3 earnings for social networking stocks highlights Snap (NYSE: SNAP) as the top performer, reporting revenues of $1.19B, up 5.3% YoY and beating analyst expectations by 7%. Snap's user base also grew, with 406M DAUs, marking an 11.8% YoY increase. The stock is up 75.6% since the results. Other companies in the analysis include Pinterest (NYSE: PINS), Nextdoor (NYSE: KIND), and Meta Platforms (NASDAQ: META). Meta delivered the fastest revenue growth, up 23.2% YoY, with 3.96B MAUs.

by Kayode Omotosho
See full article at Yahoo Finance

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Harvard Study Reveals Social Media's $11B Ad Revenue Targeting US Minors in 2022

ASSOCIATED PRESS - A Harvard study indicates that social media companies collectively earned ~$11B in U.S. ad revenue from minors in 2022. The findings highlight the need for government regulation, as platforms fail to self-regulate meaningfully. The study estimates revenue figures based on user data from platforms like Facebook, Instagram, Snapchat, TikTok, X, and YouTube. Researchers propose regulatory measures and increased transparency to address youth mental health concerns and harmful advertising practices targeting children and adolescents. The study identifies YouTube ($959.1M), Instagram ($801.1M), and Facebook ($137.2M) as top earners from users aged 12 and under. Instagram ($4B), TikTok ($2B), and YouTube ($1.2B) lead in ad revenue from users aged 13-17. The study also reveals that Snapchat derived 41% of its 2022 overall ad revenue from users under 18, followed by TikTok (35%), YouTube (27%), and Instagram (16%).

by Barbara Ortutay & Haleluya Hadero
See full article at Ponca City Now

Snap Confirms Small-scale Layoffs as Part of Product Team Re-org

TECH CRUNCH - Snap undergoes a product team reorganization resulting in small-scale layoffs, primarily affecting product management roles. The layoffs are not tied to specific products, and Snap emphasizes a focus on resource optimization rather than economic constraints. With less than 20 roles impacted, Snap maintains its commitment to growth in other areas, hiring key personnel in engineering, revenue product, and advertising-related roles.

by Sarah Perez
See full article at Tech Crunch

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Snapchat Sees Surge in AR Engagement in India, Targets AR Hub Status

BUSINESS TODAY - Snapchat reports that ~250M people engage with AR daily on its platform, with Indian AR developers flourishing. Evan Spiegel, CEO of Snap Inc., emphasizes the commitment to empower creators with monetization options and innovative tools. Ajit Mohan, APAC president at Snap Inc., envisions Snapchat becoming the AR hub of the world. Spiegel notes the transformative potential of AR for real-world communication and creativity, particularly in India, and highlights the role of AI in bridging the gap between imagination and screen.

by Prerna Lidhoo
See full article at Business Today

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Snapchat Partners With Microsoft for AI Chatbot Advertising

TECH CRUNCH - Snapchat has partnered with Microsoft to insert ads into its AI chatbot, My AI. The ads, known as Sponsored Links, appear as link suggestions relevant to users' conversations with the AI helper. This partnership leverages Microsoft Advertising's Ads for Chat API, allowing advertisers to connect with users at the moment of their interest.

by Sarah Perez
See full article at Tech Crunch

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Snapchat Surpasses 5M Paying Users for Snapchat+

TECH CRUNCH - Snapchat's subscription service, Snapchat+, has reached ~5M subscribers, indicating significant growth over the past year. This $3.99 monthly subscription offers exclusive features such as custom app themes, enhanced Stories tools, and early access to Snap's AI products. While it contributes only a fraction of Snap's revenue, it has outperformed competitors like X Premium.

by Sarah Perez
See full articles at Tech Crunch

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Snapchat Enhances Teen Safety Features and Content Moderation

TECH CRUNCH - Snapchat is rolling out a series of safety features aimed at protecting its teenage users better. These measures include displaying warnings when minors add friends with no mutual connections, raising the bar for appearing in search results, implementing a three-strike system for inappropriate content, and highlighting resources for dealing with sexual risks. Snapchat also provides online resources for parents and families to improve their understanding of the app.

by Sarah Perez
See full article at Tech Crunch

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Snapchat Debuts 'Dreams' AI Selfie Feature for Imaginative Creations

TECH CRUNCH - Snapchat has launched the "Dreams" feature, which leverages generative AI to create imaginative images of users in various scenarios. Users can access Dreams within the Memories section and generate personalized AI models. The feature provides a pack of 8 images for free, with the option to purchase additional packs.

by Aisha Malik
See full article at Tech Crunch

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Snapchat's 'After Dark' Feature Promotes Late-Night Sharing

SOCIAL MEDIA TODAY - Snapchat has launched its new 'After Dark' feature, allowing users to post exclusive content for friends after 8pm. Only users who have also posted on their Stories during that time can access the content. The feature creates an interactive highlight reel of friends' shared content from the previous night, fostering engagement and encouraging in-the-moment sharing. The new element is aimed at young users and promotes more authentic, real-time posting.

by Andrew Hutchinson
See full article at Social Media Today

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Snapchat Launches Rewards Program for AR Lens Creators

TECH CRUNCH - Snapchat introduces the Lens Creator Rewards program, allowing AR creators and developers to earn money for top-performing Lenses. Creators with high engagement in the US, India, and Mexico can receive monthly rewards of up to $7.2K. The program aims to incentivize Lens creation and inspire more people to participate.

by Aisha Malik
See full article at Tech Crunch

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Snap Is Teaming up With Linktree to Let Users Include Links in Their Profiles

TECH CRUNCH - Snap partnered with Linktree to enable users to include links in their profiles on Snapchat, expanding beyond brands and Snap Stars. The integration allows any user over 18 to include their Linktree profile or any other URL. Linktree offers better visibility for Snapchat profiles and lets creators showcase their Snapchat profiles on their Linktree page.

by Ivan Mehta
See full article at Tech Crunch

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Snapchat+ Hits 4M Subscribers in First Year

DIGITAL TV EUROPE - Snap Inc's subscription service, Snapchat+, has achieved 4M subscribers within its 1st year. The platform offers exclusive features like Snapchat for Web and an AI-powered Chatbot. Subscribers now have access to ~20 features, including custom app themes and unique app icons.

by Melissa Kasule
See full article at Digital TV Europe

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Snapchat's User Base Grows up to 45%: Report

SOCIAL SAMOSA - Auburn Digital Solutions' report reveals a surge in monthly usage for popular social media platforms. Instagram records 3.62B visits, Facebook reaches 5.28B visits, Twitter sees 1.5B visitors, and Snapchat experiences 185.8M visits between Jan and May 2023. Snapchat exhibits rapid user growth with a high bounce rate. Mobile devices dominate social media access, with 86.7% of Instagram users and 91.4% of Facebook users preferring mobile. Snapchat's user base is expanding despite limited features.

See full article at Social Samosa

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Snapchat Launches Generative AI Feature for Snapchat+ Subscribers

TECH CRUNCH - Snapchat recently introduced a new generative AI feature for its Snapchat+ subscribers. The feature allows users to send Snaps of their activities and receive generative Snaps back from the in-app chatbot, My AI. Although the feature seems to have limited practical value, with examples like receiving funny dog photos or recipe suggestions, it provides entertainment for users.

by Sarah Perez
See full article at Tech Crunch

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Snapchat Explores 'Dreams' Element as Generative AI Advances in Social Apps

SOCIAL MEDIA TODAY - Snapchat is testing a new feature called 'Dreams' that allows users to place their likenesses into generated realms using generative AI. While social media platforms integrate generative AI elements, the practical applications are not as extensive as anticipated. The current offerings include AI chatbots, visual creation tools, and background-altering options.

by Andrew Hutchinson
See full article at Social Media Today

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