Snap Inc, which owns the Snapchat platform, has released its revenue report covering the third quarter of 2021. in total $1.07 billion reported earnings. The company previously announced that in the third quarter 1.1 billion dollars in revenue had predicted. However, this goal was not achieved.
In a meeting with analysts, Snapchat CEO Evan Spiegel blamed Apple for not achieving his targeted revenue. Apple made it available with the iOS 14.5 update. Application Monitoring Transparency Thanks to this, it gave users the opportunity to turn the ‘follow’ permission on and off. Evan Spiegel, who initially supported this feature, has now given a different explanation.
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Snapchat earns most of its revenue from ads.
Evan Spiegel, CEO of Snapchat, which generates revenue mainly through digital ads it displays in the app, said, “Apple has introduced a new product for iOS in June and July. ‘ad tracking’ The change has disrupted our business,” he said.
Feature implemented by Apple not what they expected Spiegel noted that it prevented its business partners from measuring the performance of their ads. In addition, he stated that it negatively affects the business model that advertisers have been accustomed to for decades.
“This is absolutely frustrating for us” Evan Spiegel, who used his expressions, nevertheless stated that he had a positive view of Apple’s changes in ad tracking. referring to Application Monitoring Transparency “It’s really important for the well-being of the ecosystem in the long run. We fully support this” he defended the feature once again.
The number of daily users has been determined
Currently, almost all of the popular social media platforms have more than 1 billion users. Snapchat, on the other hand, has not caught this amount yet. The number of daily active users of the company reached 306 million explained. In the second quarter, this number was around 293 million. Although it was founded later than Snapchat, the number of active users of TikTok is over 1 billion.
Instagram brought it in 2016 Stories Snapchat’s star began to fade. However, it still remains popular, especially among the young. In a recent US survey, young people your favorite social media app It turned out to be Snapchat. It turned out that the most used social network is Instagram.