Consumption of video doubles on Snapchat; 10 billion videos are viewed each day

Consumption of video doubles on Snapchat; 10 billion videos are viewed each day
With 10 billion videos viewed each day, the amount of such content viewed by Snapchat subscribers is up 25% from the 8 billion videos watched every day just two months ago. The current figure is up 67% since November, and double the 4 billion videos viewed daily back in May 2015. The content comes from subscribers who create video "Stories" of their life that lasts 24 hours on the app before disappearing.

Snapchat is making a strong effort to show that it is a site where content is not just consumed, but also created. As SunTrust Robinson Humphrey analyst Robert Peck pointed out in a research note to clients, people are using photos and videos to replace speech instead of augmenting a conversation.

Snapchat, known for its photos and messages that "self-destruct" 10 seconds after being viewed, currently has more than 100 million users. As of February, users were spending 25 to 30 minutes a day on the site with 60% of them creating messages or Stories.

Although the growth in the value of the app has slowed down a bit, the last round of financing for Snapchat was completed at a valuation of $16 billion. Three years ago, the app was worth just $800 million.

source: Bloomberg


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