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Snap engagement experiencing 'one of the worst sequential results we've seen' - Piper Sandler

Published 09-04-2024, 04:36 pm
© Reuters.

Piper Sandler's survey of approximately 6,000 U.S. teens highlighted several key insights regarding social media and technology preferences.

According to the survey results, Instagram has overtaken Snapchat, with Snap falling to the third spot among teens' favorite apps.

“The sharp fall-off in engagement is one of the worst sequential results we’ve seen for the app in the Teen Survey,” Piper Sandler analysts said in a note.

Despite this decline, Snapchat still maintains a significant presence, with 69% of teens using the app in spring 2024, down from historical averages around 78%. This marks a decrease of approximately 500 basis points compared to previous surveys.

Moreover, when it comes to teens' favorite apps, Snapchat saw a decrease of around 600 basis points, landing at 22% of teens selecting it as their favorite, indicating a shift in preferences among this demographic.

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