Google, Snap results show popularity of short-form videos waning

Snap, the parent company of multimedia instant messaging app Snapchat didn’t give the breakdown of the monthly active users of its short-form video feature Spotlight.

October 25, 2023 05:22 pm | Updated 05:22 pm IST

FILE PHOTO: Short-form video content is starting to stagnate a report by The Information stated. REUTERS/Dado Ruvic

FILE PHOTO: Short-form video content is starting to stagnate a report by The Information stated. REUTERS/Dado Ruvic | Photo Credit: Reuters

If the third-quarter earnings of Google and Snap are anything to go by, short-form video content is starting to stagnate, a report by The Information stated. Snap, the parent company of multimedia instant messaging app Snapchat didn’t give the breakdown of the monthly active users of its short-form video feature Spotlight.

During its second quarter earnings, the company had stated that the feature had amassed more than 400 million monthly active users. Snap had also said that in the September quarter time spent on Spotlight clip had grown by 200% year-on-year. The lack of details offered this time suggests that there wasn’t much to celebrate.

Snapchat had launched the Spotlight feature in November 2020 to compete with TikTok and Instagram reels.

On the other hand, YouTube Shorts hasn’t really expanded its user base of two billion per month since the last quarter.

Both platforms performed stronger than expected due to advertising. Snap posted a revenue at $1.19 billion, a 5% increase from the second-quarter, beating analyst expectations of $1.11 billion, owing to AI-powered ad-targeting tools.

YouTube generated $7.95 billion in ad revenue for the third-quarter, representing a 12.5% year-on-year increase, as compared to analyst projections of $7.81 billion for the quarter. Execs said the growth came both from brand and direct ads. Last year, ad revenue for the platform had dropped by 1.9%.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.