Snapchat has been one of the most popular social media apps among teenagers and young adults since its launch in 2011. With its fun filters and disappearing messages, Snapchat revolutionized photo sharing and became ingrained in youth culture. However, recent years have seen declining usage among Snapchat’s core demographic. This has led many to wonder about the app’s future prospects. Will Snapchat still be around on October 1st and beyond? Let’s take a look at some of the challenges facing Snapchat and what the company is doing to remain relevant.
Why Has Snapchat’s Growth Stalled?
After experiencing meteoric growth in its early years, Snapchat’s userbase has stagnated over the past few years. Several factors have contributed to this slowdown:
- Increased competition – When Snapchat first launched, there were few social media apps focused on photo sharing. However, today there are many competitive apps like Instagram, TikTok, and Facebook/Messenger that allow similar photo and video functions. With more choices, new users are less likely to choose Snapchat.
- Product confusion – Snapchat has launched many new disjointed features over the years, like Snapchat Stories, Discover page, Snapcash, and Snapchat Spectacles. This has made the app more complex to navigate and understand for new users.
- Design issues – Snapchat’s design and UI has been criticized as being confusing, difficult to use, and not intuitive. For example, the Stories page mixes content from friends and publishers, making it hard to differentiate.
- Lack of innovation – While competitors like Instagram and TikTok are constantly innovating and launching new features, Snapchat’s product evolution has slowed. There are perceptions that Snapchat hasn’t kept up with current social media trends.
These challenges have made Snapchat less appealing for new users while frustrating existing users. This toxic combination has stunted Snapchat’s growth.
Snapchat’s User Base is Shrinking
Beyond just slowing growth, Snapchat has seen an actual decline in its number of active users:
| Year | Number of Daily Active Users |
|---|---|
| 2018 | 188 million |
| 2019 | 203 million |
| 2020 | 229 million |
| 2021 | 238 million |
| 2022 | 187 million |
As the table shows, Snapchat hit a peak of 238 million daily active users in 2021 but has since declined to around 187 million as of 2022. The app is bleeding users and engagement. Teens and young adults are spending less time on Snapchat and more time on competitors like TikTok. This is a troubling trend for Snapchat that points to an uncertain future.
Snapchat is Trying to Remain Relevant
Despite its recent struggles, Snapchat is working hard to turn things around and remain culturally relevant. Some of Snapchat’s strategies include:
Augmented Reality Lenses
Snapchat sees augmented reality (AR) lenses and filters as a key competitive advantage they have over other apps. They are investing heavily in more advanced and intricate lenses that go beyond just selfies. For example, their new My AI lens uses AI to generate images of users. Another lens lets users try on digital clothing for online shopping.
TikTok Competitor “Spotlight”
To compete with TikTok’s explosively growing short video content, Snapchat launched their own TikTok clone feature called “Spotlight” in 2020. Spotlight allows users to post short-form vertical videos that can gain public exposure and earn cash rewards if they go viral.
Original Shows and Discover Platform
Snapchat has been doubling down on its Discover platform that shows original video content from partners. They are licensing and producing more original shows and episodic content to attract Gen Z users. Some popular examples include authentic docuseries and comedy shows starring young social media influencers and celebrities.
E-commerce Features
Snapchat is dabbling in social commerce through shoppable ads and integration with e-commerce platforms. Users can now buy products directly within Snapchat from top brands. The app is also testing augmented reality shopping experiences that let users visualize products in their homes.
Celebrity engagement
Influencers and celebrities remain important to Snapchat. The company continues to partner with big names across entertainment, music, and sports to create buzzworthy content and campaigns that appeal to younger users.
Conclusion
Snapchat faces significant challenges in 2023, including shrinking users and heavy competition. However, the app still retains a strong brand name and niche in youth culture. Its investments in augmented reality, original content, e-commerce, and influencer marketing demonstrate Snapchat is pulling various levers to stay relevant. Only time will tell whether these strategies revive growth or just stem the bleeding. While unlikely to disappear entirely on October 1st, Snapchat’s long-term dominance is certainly not guaranteed. The company must continue evolving its product and services to align with Gen Z preferences to have any chance of reversing its fortunes.