Will Snapchat's high engagement rates pull ad spend away
from Facebook?
With Snapchat revealing this week that it has 100 million
daily users and 8 billion video views per day, the platform's potential to pull
advertisers away from Facebook, Twitter and other social platforms is being
realized.
Snapchat’s CEO reportedly revealed key usage data to
investors this week, underscoring its success at reaching and engaging a
younger audience, with users spending about 25 to 30 minutes on the platform
each day. Snapchat’s video views, usage and expansion of advertising packages
should be a cause for concern for other social channels competing with the
platform for advertising revenue.
“Snapchat is gaining market share quite quickly which is
cause for concern for social media platforms like Facebook, Pinterest and Twitter,”
said Carrie Middlemiss, U.S. director of marketing at Metia. “Facebook
attempted to buy Snapchat a few years ago.
“Many felt this was a strategic attempt early on because
they recognized Snapchat's potential for growth,” she said. “As Snapchat continues
to roll out plans to build its ad business definitely is cause for concern the
other industry leaders.”
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