Social Media is the heartbeat of this generation. Facebook and Twitter are considered the market leaders for a long time, but with emergence of other popular social networking apps in recent years the competition in the industry has reached a new high.
According to a latest report by Bloomberg; Snapchat a popular image messaging app has surpassed the Social Media giant Twitter in daily usage. Twitter was established in 2006 and last year reported the annual revenue of US$2.21 billion according to its yearly report.
However, the Social Media giant is currently facing stiff completion and losing its market share to Snapchat, which was found in Sep 2011. As stated in the report; The image messaging app shown a growth of 40 million users since December last year. This means around 150 million people around the world are using the image messaging app every day.
The daily usage rate of Twitter (140 Million people/day) hasn’t been on a slump, but it’s now clearly behind Snapchat. Snapchat now replaced twitter as the second most popular app worldwide, behind Facebook and its other acquired apps (Instagram, WhatsApp, Messenger).
Snapchat is winning the completion by making communication between its users easier through annotated selfies and short videos. It’s the core feature behind its rapid rise in past years. Celebrities around the world are now more eager to communicate with their fans through Snapchat instead of Twitter; another factor why Snapchat is kicking Twitter in the butt.
Snapchat features are more engaging and it will eventually make marketers realize that; it’s better to advertise their products here compared to Twitter. Features such as; news and Live Stories disappears after a day, which makes its users to visit the app on a daily basis.
Twitter currently have around 310 million monthly active users; according to the latest monthly earning report. The number of users active daily hasn’t been revealed in report, but its third quarter report indicated that around 44 percent of its users are active each day.
Twitter CEO and its think thank need to make some big changes and acquisitions if they want to keep their market share in social media market. A change of strategy can be a risky move, but proper measures need to be taken if they want to take back their place as second most popular social media app.
Jack Dorsey CEO of Twitter INC. has accepted that messaging is something its company needs to work on quickly. On Recode’s technology conference he said; “Messaging on Snapchat is very modern”. On other hand Twitter is sometimes very confusing alienating – something he’s trying to fix.