At first glance, Snapchat seems like it’s hit a wall. While the company is still growing, it’s increase in number of daily users has definitely slowed down.
Then their stock dropped 20%.
Despite this, Snap is still dominating in one category: young U.S. millennials. Youtube and Facebook took first and second. Snapchat placed third. Instagram was down at number five. Upon analyzing, Recode’s Kurt Wagner, detailed that report came only days after predicting Snapchat will be bigger than Facebook and Instagram in the U.S. by the end of 2017 among 12-24 year olds.
Yet, overall, Facebook is still the clear frontrunner.
All in all, Snapchat’s dominance among the young U.S. age demographic is a large window for companies hoping to reach this age demographic. Their popularity definitely keeps the future looking bright.