Snapchat is killing it.
The app is currently enjoying 6 billion video views a day, sources tell the Financial Times. If accurate, that’s up by about 300% since May.
What’s more, those numbers aren’t far off from the 8 billion daily
video views that Facebook presently sees across mobile and desktop. Yes, that Facebook.
The numbers are even more impressive when you consider that Snapchat claims around 100 million
daily active users, which is less than a tenth of Facebook’s 1.01 billion daily active users.
What explains Snapchat’s success?
It’s not rocket science. Video and
mobile are obviously driving consumer usage trends. To explain the startup’s popularity relative to countless others, I think the key ingredients have been luck and good timing. (Way back when
in 2011, young users were simply ready for a video-based messaging app to call their own.) Oh, and you can't underestimate the power of a good gimmick. That Snapchat’s messages disappeared
struck users as fresh, fun, freeing, and seemingly a little mischievous.
Those components got the ball rolling, after which point massive market demand for video-based apps combined with some
smart business decisions have cemented Snapchat’s place in consumers'
hearts.
Oh, and don't forget about a lot more luck and good timing. Take CEO Evan Spiegel’s recent appearance on "The Late Show with Stephen Colbert." As Spiegel
giggled like a kid who’d just stumbled on a $16 billion pot of gold -- which he basically did -- Colbert told his millions of viewers how crazy he is about Snapchat. Are you kidding me?!
Now, Snapchat is developing new features as fast as users
can figure them out, and bringing in the best business minds money can
buy. The only thing that can -- and will -- slow its ascension is young consumers’ readiness for the next big thing.