Despite Snapchat working hard to hit the right chord, it seems to be missing it every times in the last few tries.
We know how it all went down. Snapchat became extremely popular back in 2013 with its idea of self-destructing images and videos, in its feature called Stories. Some said the app was for teens, some said it was for people who wanted to exchange naked selfies, but despite what everybody said, the whole world was amused by Snapchat.
Snapchat saw its share of downs with images of millions of people leaking, however, that barely pushed anybody away from the app. What pushed people away from Snapchat came in 2016, and that is, Instagram Stories.
While initially poked for blatantly stealing Snapchat’s Stories feature, few months later, there was a dramatic shift in the audiences of the app. In Feb 2017, a TechCrunch report revealed that Snapchat’s growth had slowed by 82 percent, since the launch of Instagram Stories.
Unfortunately, this downward trend continues for Snapchat, even when the app put in the redesign efforts in place (which was widely hated, though).
According to the Snap’s Q2 2018 earnings report, the number of daily active users have dropped from 191 million in the first quarter of the year, to 188 million. That’s a drop of two percent, or three million users, since the last quarter. Snap is also operating at a net loss of $353 million.
But if you are an optimist (or a fan) and insist on the silver lining, the daily active users in Q2 2018 is still eight percent higher than that in Q2 2017. Additionally, Snapchat’s overall revenue is now $262 million, which is a 44 percent year-over-year increase and a 11.9 percent increase from last quarter.