According to the 36th Semi-Annual survey carried out by Piper Jaffray, instagram’s popularity among teenagers has surpassed that of Snap Inc (NYSE:SNAP)’s Snapchap with a small margin. Instagram is leading as the most-used social media platform with eighty five percent of the 8,600 interviewed teens. 84% of the teens were in favor of Snapchap under the same category.
Win-Loss for facebook
According to Piper jaffray, the survey carried doubled-edged results for Facebook. On the brighter side, its subsidiary, Instagram was gaining prominence over rival’s snapchap. On the other hand Facebook, Inc. (NASDAQ:FB) was losing its prominence to other platforms with only 28% teenage engagements in the Fall of 2018. This is a sharp decline from 2016’s data where the social media platform attracted 40% of the users.
Loss-Loss for snapchat
Snap went live in 2017 with initial public offerings (IPO) of $17 per share. As at October 17, the company’s shares were trading at an historic low of $6.46. The news on Snapchat losing its dominion as the “most-used” social media platform to facebook-owned instagram is metaphorically adding salt to the wound.
Other social media platforms that were ranked in the category of the most-used platforms include twitter coming in the 3rd place with a preference of 47%, Facebook came in fourth with a mere 36%, Pinterest was fifth with 23% and lastly, Google+ at position six with 14%.
The next category was that of the overall favorite social medial platform. Snapchat had a commanding lead of 46% against Instagram’s 35%. Twitter and Facebook garnered a depressing 6% and 5% respectively. Snapchap has dominated this category for the last two years.
Another win for Instagram
An analyst with Piper Jaffray hinted that “Instagram continues to show dominance in selling, as teens overwhelmingly prefer brands contact them on Instagram vs other channels.”
Amazon came out as “teen’s favorite website” in the survey. Netflix, Inc. (NASDAQ:NFLX) beat YouTube as teen’s preferred streaming alternative while Apple Inc. (NASDAQ:AAPL)’s wristwatch market was up 17% making it the second most popular watch. Nike Inc (NYSE:NKE) comes before Vans as teens favorite retail brand.