An inside look at some of the data Snap executives guard most closely may provide insight into why the company is overhauling its app.
“Only about 20 percent of the app’s users visit Snapchat Discover,” Taylor Lorenz, Reporter at the Daily Beast told Cheddar. “Also Snap Maps, which was touted as an exciting new feature -- it was rolled out last June -- had less than 10 percent penetration on the app.”
Lorenz pored over 5 months of user data and found that the majority of users go to Snap to chat, not to read content. That’s a problem, since the social media company has not yet monetized chatting. And publishers and advertisers may shy away from the platform if people aren’t using these other features.
Snap announced a major redesign of its platform in November as part of its third quarter earnings report and has begun rolling out changes intended to make the app easier to use.
The company reported a loss of $0.14 a share for that period and is expected to post another lost of $0.16 to close out the year.
For full interview click here.