According to eMarketer, popular video-and-photo-based social media app Snapchat is poised to see double-digit percentage growth in its U.S. user rolls in 2016 and in 2017.
This growth is based on the app’s spread in popularity beyond millennials and teens to a wider range of social media users.
With a “storytelling platform” that is gaining advertiser interest, Snapchat is feverishly seeking ways to monetize its platform, while setting itself apart from “old-guard” social media platforms such as Twitter, which received a Sell rating from MoffettNathanson senior analyst Michael Nathanson in late May due to both user fatigue and advertiser fatigue.
With the July introduction by Snapchat of its “Memories” Snap-saving and Story-saving tool, the Venice, Calif.-based tech company may finally be on its way to high profitability.
Radio can play a big part in this growth, with radio broadcast companies benefiting from increased revenue and stronger ratings, argues Mark Kaye, a Snapchat host and wake-up air personality on Cox Media Group’s CHR/Pop WAPE-FM 95.1 in Jacksonville, Fla.