Snapchat is one social app that has attracted a good number of millennials but it looks like the party is over. Even though Snapchat started well, it is having a hard time attracting new users given the fact that Facebook (and its products) have stolen most of Snapchat’s features. This was evident yesterday when Snap, the company behind Snapchat announced its third quarter results.
When announcing its third fiscal quarter results, Snap announced that Snapchat will be getting a big redesign soon. Over the years, Snapchat was criticized as being hard to use and I tend to agree. If you compare it to the other social networking apps out there, then you know that it is not the easiest one to understand and use. For example, Facebook and Twitter are pretty straight forward, yes they do require some getting used to but they are not as complicated as Snapchat is.
Snap has also acknowledged its app design and usability is limiting its growth. The company has been making money but it needs to redesign its app to grow more and make more money. The company did not reveal when we should be expecting the redesign, but I expect it pretty soon, probably during the first few months of 2018.
Not the Best Third Quarter
When announcing its quarterly results, Snap said that it had less daily active users that it would have liked. Its app saw 4.5 million new users during the quarter, not the best growth numbers most people expected. The company says that it hopes to attract more users in the coming months and year especially with the redesign.
Snap also revealed that 70% of the people using its app are aged between 13 and 34 years. The company plans to target more people above 34 years, it will be interesting to see how it does this.