Snapchat is taking a beating! The latest quarterly report of Snapchat reveals that the app lost three million active users since its redesign.
Snapchat’s user base takes a nosedive while revenue increases
Snapchat’s recent decisions have forced 3 million DAUs to leave the social network. That’s down two percent from the 191 million daily active users the app had in Q1 2018.
For the uninitiated, Snapchat defines a DAU (Daily Active User) as a user who logs into the app at least once during a 24-hour period.
With that being said, Snapchat still maintains a growth of 8% as compared to 2017. The social network also continues to gain important ground in Facebook-dominated markets like the United States and Canada.
At this point in time, Snapchat’s quarterly revenue has hit the 262 million dollar mark, with the year-on-year and quarterly growth figures standing at 44% and 11.9%.
The net loss decreased 20% to $353 million in the second quarter of 2018 as compared to a net loss of $443 million in Q2 2017.
Instagram keeps stealing Snapchat users
While Snapchat’s redesign update may have cost them millions of active users, Instagram isn’t too far behind either.
Instagram’s stories feature, which is a blatant ripoff of Snapchat, stories has put a massive dent in Snap’s user base. The photo-sharing social network is now more popular than Snapchat and has even overtaken it in several important European markets.
Further, the recent introduction of IGTV – Facebook’s answer to YouTube – will only serve to steal even more users from Snap.
Are you still using Snapchat or have you moved on to Instagram or Facebook? Leave your replies in the comments section below.
(Source – Snapchat)