Social Platforms Pushing Ahead
This week, both Snapchat and LinkedIn reported a rise in their active monthly users, due largely to the lockdown.
LinkedIn is reporting revenue growth is up 10% while sessions grew by 27% in the last quarter. While they are seeing an uptake in users, in April, they reported a decline in Advertising due to the impacts of the lockdown, causing the app to scale back their own workforce by 6%.
We don’t know the overall monthly active user count on the platform by they are reporting that they have 690 million members in total, which puts them lower than many of the other popular social platforms.
Snapchat has gained 9 million more daily active users in Q2 and is reporting a 17% increase in revenue. Adding this 9 million now brings their daily active user count up to 238 million.
According to Snap’s CEO, Evan Spiegel: “We are continuing to invest in app performance and localization to make our service more accessible to people all over the world, with Snapchat now available to over two billion people in their native language. These efforts have helped us grow even faster in emerging markets like India, where we’ve seen over 100 percent growth in daily active users over the past year.”
India is now the second-biggest smartphone market in the world.
Both apps continue to pivot and update their strategy so that they can meet the demand of their customers.