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Fierce Competition as Snapchat Video Views Are Catching Up with Facebook

The number of videos viewed on social networks have doubled and even tripled for some in the past year. Facebook were getting around 4 billion just in April and now they have reached 8 billion. Snapchat have also seen an increase in views as theirs have hit 6 billion, and since May that means that it has tripled.

These 6bn views are thanks to the 10 million daily users, which is only a fraction of Facebook's 1.5 billion. But Snapchat are confident that they are slowly but surely catching up with the social giant. You have to consider that fact that these 6 billion views are the result of mobile usage only, whereas Facebook's numbers are emerging from use of the social network on desktop as well as the app.

Mark Zuckerberg said it himself, 'video is going to be some of the most engaging content online'. Just take YouTube and Facebook for example as they have developed 360 degree video already. Snapchat's contribution to video has to be the launch of their sponsored lenses, which allow users to create short videos of themselves throwing up rainbows most famously, amongst others. We also know that the platform is now charging up to $750,000 to advertisers for the use of Lenses, so they know where to make their profit. Snapchat's chief executive Evan Spiegel is confident that an investment in the digital video advertising market is a great way to head towards an initial public offering. 'An IPO is really important' he states. 

After having refused Facebook's acquisition offer in 2013, Snapchat can now confidently say that it was the right decision as the company is worth a massive $16bn which is more than five times Facebook's offer. Video content is a primary source of income for Snapchat and if users keep showing as much loyalty and interest in the platform then that gap between them and Facebook may start to close in even faster than planned. 

One of the newest members of The SMF Group. Although she loves a good city life, she grew up in the beautiful French countryside. Who knew that talking to a bunch of cows and friendly chickens would get her here? Quite used to writing stories in her bedroom, she is now deciding if she's cut out for content writing. We'll see! Follow her @SophieAtSMF
Fierce Competition as Snapchat Video Views Are Catching Up with Facebook Reviewed by Unknown on Wednesday, November 11, 2015 Rating: 5

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