Snapchat more popular than Instagram among teens and young adults
Snap (SNAP) stock has tanked by over 50% since the highs it hit after going public in March this year. Facebook’s (FB) Instagram App has imitated some of the Snapchat App’s popular features over the last year including “stories” and the “dog face” filter. The Instagram App has seen increased users since these features were added. Instagram already has over 400 million daily active users, while Snapchat has only 173 million daily active users.
However, according to research firm eMarketer’s estimates, Snapchat will be more popular than Instagram and even Facebook in the United States among 12 to 24 year-olds by the end of this year.
Still a long way to go for Snap
Also, according to a new report from comScore, Snapchat is in the third spot in terms of the most popular apps among users between the ages of 18 and 24 in the United States. Instagram lies in the fifth spot in that demography, as the graph above shows. Alphabet’s (GOOG) YouTube and Facebook (FB) occupy the first two spots in that regard.
While these two reports don’t mask the fact that the company’s user growth and revenue growth are slowing down, they might calm investors for the time being. The company’s stock jumped 4.5% on Monday, August 28, but fell 1.5% in the next two days.