Snapchat started as a hip, quirky app for teens. Now, the olds are coming.
Data from eMarketer, a research firm recently acquired by Axel Springer, shows that Snapchat is getting more popular with older demographics, particularly the 25-34 and 35-44 age groups.
This is both good and bad for the social media startup focused on disappearing pictures and videos. On the bright side, Snapchat’s on a similar trajectory to Facebook—rapid growth that started with young people but then moved to their moms and dads. Now, over 1 billon people use Facebook, and the company is worth over $330 billion. Snapchat recently surpassed Twitter in daily users, according to Bloomberg.
On the downside, there’s a risk that the invasion of the olds on Snapchat could be a turnoff for younger people. If young people stop using the app because their parents are on it, Snapchat might not seem so valuable to young people—nor to the advertisers targeting them. The 18-24 age group is a tough one to reach, and Snapchat owns that demographic right now. It’s projected to have 20 million users this year in that age bracket, according to eMarketer.
That’s attracting advertisers like Gatorade and MTV, lending at least a whiff of credibility to Snapchat’s reported goal of generating at least $300 million in revenue this year—up from the projected $50 million annual revenue figure floating around this time last year. But all of that would be for naught if young people quickly move on from Snapchat to another app that older folks have yet to discover.