Young People Still Love Snapchat
Snapchat's strength has always been its popularity among young people. But that popularity has been called into question since Snap (NYSE: SNAP) went public and showed slowing user growth while Instagram's user growth accelerated. The Facebook (NASDAQ: FB) subsidiary's most recent sign that it's stealing engagement from Snapchat was an announcement that its younger users spend over 30 minutes per day in the app on average. That came just ahead of Snap's second-quarter earnings report.
But Snapchat is still extremely popular among smartphone owners under 25 years old. A recent survey from ComScore found it was the third-most popular app among 18 to 24-year-olds in the United States, just behind YouTube and Facebook. Snapchat notably fell to sixth in the 25 to 24-year-olds, and missed out on the top eight in older demographics while remained popular for users up to 54 years old.
Snap's earnings report corroborates those survey findings. Near the end of the company's conference call, CEO Evan Spiegel told analysts the average user under 25 years old spends 40 minutes per day in the app.
Source: Fool.com
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