TikTok has a new competitor
Christopher Tompkins
CEO of The Go! Agency (Digital Marketing), Author, Forbes Council Thought Leader, Entrepreneur Magazine Contributor, Biz Journals Leadership Trust, Fast Company Board Member, Podcast Host, National Business Mentor
The Top Story
Snapchat is succeeding on multiple levels.
First off, the platform added 13 million more daily active users in the last part of 2021, taking it up to 319 million overall. That’s an astounding 20 percent year-over-year increase.
Second, Snapchat brought in $1.3 billion in revenue in Q4 alone, rising 42% year-over-year from 2020.
Why is Snapchat suddenly exploding? Well, technically it isn’t. Don’t call it a comeback, etc., etc.?
The app has always done well, but now with the?banning of TikTok across the major market of India, Snapchat is left without a direct competitor and has full control of the field. TikTok had over 200 million Indian users before it was banned in June of 2020—and all of those users were going to go somewhere!
What do you think of Snapchat as a TikTok competitor in regions where TikTok isn’t banned? The app has, like all platforms, adopted many essential TikTok features like “Spotlight”—but Snapchat also has an AR component that TikTok doesn’t.
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