Instagram ousts Snap Inc (NYSE:SNAP) Snapchap as Teens’ favorite

0
376

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.

This report is for information purposes only, and is neither a solicitation or recommendation to buy nor an offer to sell securities. Financials Trend is not-a-registered-investment-advisor. Financials Trend is not a broker-dealer. Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. Financials Trend accepts no liability for any losses arising from an investor's reliance on the use of this material. Financials Trend sometimes gets compensated up to one hundred and fifty thousand dollars per month for featuring particular stocks. See site disclaimer for complete compensation. Financials Trend and its affiliates or officers currently hold no shares of these stocks. Financials Trend and its affiliates or officers will purchase and sell shares of common stock of these stocks, in the open market at any time without notice. Financials Trend will not update its purchases and sales of these stocks in any future postings on Financials Trend's websites. Certain information included herein is forward-looking within the context of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. The words "may", "would," "will," "expect," "estimate," "anticipate," "believe," "intend," " project," and similar expressions and variations thereof are intended to identify for ward-looking statements. Such forward- looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. *Financials Trend does not set price targets on securities. Never invest into a stock discussed on this web site or in this email alert unless you can afford to lose your entire investment.