The not-so-popular-anymore app Snapchat has had some trouble keeping users from deleting the app altogether in recent months. When social media networks like Instagram and Facebook rolled story features over the last year people began to stray from Snapchat. Snapchat and its parent company, Snap, are focusing on implementing new features that will aim to bring people back to the app. According to a CNBC report last week the company is at risk of going private if it cannot increase its user count. The company lost $20 billion in market capitalization since it went public in the spring of 2017.
Need For Change
When Instagram and Facebook added story features, Snapchat knew it needed to act fast. The app redesigned its entire interface in early 2018. Unfortunately, many users didn’t like the redesign and opted out of the app altogether. Later, the company fell under fire after offending Rihanna in one of their ads. Before that, the company was quickly growing, creating innovative new ways for people to consume media like never before. Snap, the parent company of Snapchat, acquired from Erick Miller’s Vergence Labs a pair of glasses that could record photo and video. The Spectacles by Snapchat, as they were called, faded almost as quickly as they took off.
In an effort to get people back onto the app, Snapchat is focusing on rolling out some new features. The photo app, which famously began integrating augmented reality filters to its selfie camera in 2015, is getting an update. The feature previously only recognized human faces (unless it glitched, in which case you could end up with a filter over your sweater and your face). Now, however, the feature can recognize cats. This is exciting news for anyone that has ever spent an hour or more of their life trying to get Snapchat to do a face swap with their pet. The company announced the new feature in a tweet on Friday.
Snapchat As A News Outlet
Over the last few years Snap has slowly changed the Snapchat interface to focus on becoming a source of media and current events. The early 2018 redesign, which ended up being detrimental for the app’s user count, brought with it an entire new media feature. Users could now check their favorite media headlines from Snapchat. Companies like CNN, NBC and Cosmopolitan worked to create exclusive content for the app. It was Snapchat’s effort to integrate media sources with social media, similar to Twitter’s trending topics or featured stories section.
The next step for Snapchat is to create original content exclusive to the app. The company will be rolling out a series of scripted-programming original shows in different genres. The app aims to compete with companies like Hulu and Netflix as it struggles to stay afloat in the sea of social media apps on the market today. Many users are reporting seeing the shows pop up in their feeds already. Hopefully these new features are what could save Snap from being able to abandon Snapchat altogether, but only time will tell. CNBC reports that although the company does not currently break even, analysts have strong hopes for the future.