Here's one seriously important fact about Snapchat that you have to keep in mind: this is a platform specifically tailored for the younger crowd. Say what you want about Snapchat, but while in many cases that's quite the advantage, in the long run for this social media race, ultimately it's a disadvantage. Think of the tortoise vs. the hare as an analogy, and you just might get the picture.
Case in point, Facebook and Instagram have already mimicked what's been working best for Snapchat: Stories. Now you see the uptick and competition-heavy usage that instantly presents a slight problem for the trendy Snap platform that may go the way of Twitter soon unless the moguls there take some aggressive action. If you're skeptical, know this: Instagram alone features approximately 400MM daily active users for their Stories. That's twice the amount of Snapchat. And let's not even get started with TikTok, currently taking over the short video format by storm.
As a Result, Snapchat Usage Has Ultimately Held Steady and Also Fallen in Some of the Past Quarters
However, the platform has one thing going for them: younger users still love it!
This presented an opportunity recently at a summit when Snapchat unveiled its newest endeavor: a gaming platform. And when you think about it, it's a smart move. After all, Snapchat reaches 75% of the 13-34-year-old demographic, and 90% of that demographic exists in the United States. Reaching them with gaming instantly presents another tremendous revenue source that just might keep them competitive with the big boys.
It's no secret that Snapchat -- while formidable all its own -- doesn't have quite the amount of resources Facebook and Instagram do. With this gaming platform featuring some original creations and third-party contributors, it could create the balance everyone wants:
Think of Snap's flagship brand Bitmoji Party for one. Other projects include Alphabear Hustle from Spry Fox, C.A.T.S. Drift Race by ZeptoLab, Snake Squad by Game Closure, Zombie Rescue Squad from PikPok, and Tiny Royale from the very well known Zynga.
Revenue will begin rolling in due to non-skippable 6-second video ads -- the same ad formats that boosted fourth-quarter revenue for Snapchat, and with these partnerships in place, it could only mean great things for the platform.
Truth Be Told, We're Not Surprised at This Much
Mobile gaming continues to grow. It only makes sense that it grows on social media as well. As it stands, though, we're not seeing any of that on other platforms like Instagram, Twitter, and especially LinkedIn. Such a concept doesn't seem to be a good fit. But Snapchat? Why didn't they pull this one out earlier? Perhaps it was a work in progress, and they certainly wanted to make it their own. Whatever the case, with cloud gaming still going strong as it stands, there's no doubt -- Snapchat won't back down.
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