TECH CRUNCH - Snapchat announced through a post on its online Privacy and Safety Hub it will now add content filtering capabilities that will allow parents to restrict teens from being exposed to content identified as sensitive or suggestive.
by Ivan Mehta & Sarah Perez
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TECH CRUNCH - Twitter first introduced its paid subscription, Twitter Blue, in Jun 2021 and relaunch the plan with features like a Blue verification mark and priority in replies. There are ~180K paid accounts in the US and 290K paid accounts worldwide. Meta also announced a premium program for Facebook and Instagram called "Meta Verified” which will be available to users based in Australia and New Zealand. This new plan will get users a Blue tick. Snapchat launched Snapchat+ last Jun in ~20 countries with ~2M paid subscribers now. It can pin someone as their No. 1 friend, priority in replies to Snap Star, and the ability to see "the general direction of travel for where friends have moved recently". Reddit's premium membership program will give users perks like ad-free browsing, custom avatars, and Reddit coins to give awards to posters. While Tumblr's subscription is ad-free browsing.
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TECH CRUNCH - Snapchat is introducing two new features for its Sounds product, which allows users to add licensed song clips, excerpts from TV and movies, and their own original audio to their Snaps and Stories. Teature is designed to allow users to find relevant Sounds to complement a Lens. Snapchat is also rolling out a feature that lets users create montage videos that are automatically in rhythm to the beat of audio tracks from the Sounds library.
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TECH CRUNCH - At its Investor Day event, Snap said its social media app Snapchat has now grown to ~750M MAUs. While the number falls far short of the ~2.96B MAUs. During the event, Snap also teased its newer offerings in terms of products, including its 3D Snap Map and a recently launched feature called Communities. The feature has launched with colleges and high schools and will roll out to more communities in time. So far, there are ~1.4K colleges in the U.S. with access to Communities.
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SOCIAL MEDIA TODAY - Snapchat has announced that its annual Partner Summit will be held on the Apr 19, where it will preview its latest tools, advancements, and community-building features. Those partnerships will likely include Snap's retail partnerships expansion, which will see more brands integrating Snap AR features into their promotions.
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TECH CRUNCH - Snapchat+ Program now has ~2M paid subscribers. Snap noted that the paid plan, which costs $3.99 a month, is a part of "diversifying" its revenue pipelines. Snapchat+ offers users features like the ability to pin someone as their #1 friend; priority in replies to Snap Sta; and see "the general direction of travel for where friends have moved recently."
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SOCIAL MEDIA TODAY - Snapchat has launched a new promotional campaign that leans into the uniqueness of its viral AR trends, with a showcase of bizarre effects, as a means to present people with a different perspective on the real world. The campaign is expected to grab attention, and with 72% of active Snapchat users already engaging with AR elements in the app every day, there's a lot of interest in these types of weirdo activations that provide a new way of seeing the familiar.
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FINANCIAL TIMES - UK's Online Safety Bill requires stronger age verification measures for platforms including TikTok, Instagram, and Snapchat. Social media companies expect age verification measures in the UK's Online Safety Bill will reduce user numbers, hitting advertising revenue on platforms including TikTok and Instagram. The UK bill, aimed at protecting children from harmful content online and removing all illegal content, is considered to be leading the agenda for big tech regulation globally, along with the EU's Digital Services Act.
by Ian Johnston & Cristina Criddle
See full article at Financial Times
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SEEKING ALPHA - Snapchat's share price dropped from $46.59 to $8.81 (-80%) year to date. Snapchat could be a desirable takeover target for various potential buyers. Snapchat's market cap is $14B, significantly lower than the valuation of its peers.
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THE HINDU - Meta announced that its India head, Ajit Mohan, has stepped down to pursue another opportunity. Mr. Mohan took over the position of Vice President and Managing Director at Meta India in early 2019. While Mr. Mohan is reported to join rival social networking platform Snap Inc., it is yet to be confirmed.
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BLOOMBERG - Snap must turn over some emails from CEO Evan Spiegel and other top executives for use in Meta's defense from a government antitrust challenge, a judge ruled. Judge James Boasberg said emails from C-suite executives like Spiegel on how Snap views the competitive landscape were relevant to Meta's defense in an FTC case that accuses the social network of illegally maintaining a monopoly.
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TECH CRUNCH - Snapchat is bringing an initial set of parental controls to users in India to deliver parents and guardians in the key oversea market insights on how their teens are using the social networking app. It also brings the ability to report safety concerns and potential abuse to Snap’s Trust and Safety team to review.
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TECH CRUNCH - Snapchat is making the desktop version of its app, Snapchat for Web, available to its entire global community. With Snapchat for Web, users can send messages and snaps, and also chat via video and voice calls. Snapchat for Web also includes access to the mobile app's messaging features, including chat reactions. It also now features more than 10 Lenses for video calls.
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THE GUARDIAN - Snapchat is focusing on attracting users in their 30s, according to a leaked memo from its co-founder and CEO, Evan Spiegel, as part of a goal to increase usage "in at least one new large country or demographic". Spiegel laid out his company's plans for recovery after a year in which 20% of Snapchat's staff were laid off, and 4 of its 5 stated goals were missed. Snapchat also focuses on a "big five" list of large countries with low penetration: Mexico, Brazil, Italy, Spain, and Japan.
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TECH CRUNCH - Snapchat's parent, Snap, plans to cut additional costs through "refocusing" its business, which includes ceasing investments in certain products. Part of this involves winding down two standalone apps, one of which is Zenly, a social mapping app that it acquired for north of $200M five years ago. The entire Zenly team has been laid off, while their non-compete clauses have been waived.
by Paul Sawers & Romain Dillet
See full article at Tech Crunch
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