Snapchat: The Most Popular Social Media Among U.S. Teens
The teens have spoken, and they’ve chosen Snapchat as their favorite social media platform.
When asked to pick their favorite social media platform in a recent survey, more than a third chose Snapchat:
|Social Media Platform||% Who Chose the Plaform as Their Favorite|
This is slightly lower than last year when 41% of teens picked Snapchat as their favorite. Despite a small dip, the company still holds its dominance in the U.S. teen market over rivals Instagram and TikTok – at least for now.
Teens are Keeping Snap Alive
Snapchat has Gen Z to thank when it comes to keeping the company afloat. Since Snap’s IPO in 2017, the company has faced a mountain of challenges from competitors, including the rollout of Instagram Stories and ad monetization.
In March 2017, Snap entered the public market at $27 a share, and right off the bat, shares entered a downward spiral. The lows were met at the $5 range in December 2018, -81% from the IPO.
Yet today, potentially thanks to its dedicated U.S. teen fanbase, Snap is at all-time highs. The company is now valued at $73 billion and has managed to convert those same headwinds into considerable tailwinds.
Snap has 249 million daily active users, and their average revenue per user stands at $2.73 as of Q3’20—over double the $1.21 figure in Q1’18.
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