Is Snap’s Biggest Advertiser Also Its Biggest Adversary?

Snap's (NYSE: SNAP) Snapchat is one of the top social media platforms for U.S. teens. According to Piper Jaffray's fall survey of teen interests, 81% of teens regularly use the app, while Facebook's (NASDAQ: FB) Instagram ranked first with an 85% share.

However, ByteDance's short video app TikTok is becoming a major threat to both Snapchat and Instagram. TikTok topped 500 million monthly active users (MAUs) in mid-2018, and was the world's fourth-most downloaded app in 2019, according to App Annie. Instagram and Snapchat ranked fifth and eighth, respectively.

Image source: Getty Images.

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Source Fool.com