Last Thursday, Bloomberg reported that Snapchat now has 150 million daily users of their app, which means that it has more daily users than Twitter (based on the percent of monthly users who are active each day.) Could this be signaling the end of Twitter?
Many of you, especially those over 30, may be asking yourself what exactly is Snapchat? If you happen to have a teenager at home, they can give you a better explanation than me. But in short, it’s a messaging app that allows you to communicate by sending selfies and short videos to friends and subscribe to your friends stories so you get constant updates.
So how could this be the end of Twitter? For one thing, mobile and video are HOT. Smartphone and tablet usage has combined to surpass desktop usage while video advertising is rapidly gaining ground on display and search. Although Twitter allows videos, the vast majority of messages are still 140 characters.
Another thing that Snapchat has going for it is the majority of those 150 million users are millennials; whereas Twitter has been targeting people of all ages. That may be good for them now, but could be a hindrance in the next few years as Snapchat users enter into the age demographic that marketers most want to reach.
It’s not all bad news for Twitter. 59% of Twitter users currently go there to get news compared to just 17% for Snapchat. Also, according to a recent survey of global brands, one-third advertise on Twitter compared to just 4% on Snapchat.
However, you can be sure that Snapchat is working on ways to overcome these challenges. The question is, will Twitter adjust too?
Also published on Medium.