2018 isn’t looking good for Snapchat and the scary part is the year basically just started. Rumors are swirling that Twitter is working on a new video feature similar to Snapchat’s own that may doom the once popular social media platform.
Khaled can’t save Snapchat if this report is true.
Snapchat’s redesign/update has not been well received by users. One of their most famous snappers, Kylie Jenner dissed the upgrade in a Tweet and wiped out $1.3 Billion of Snapchat’s market value. Rihanna just recently called out Snapchat for a tone-deaf game advertisement using herself and Chris Brown. Now CNBC reports that Twitter is working on new discover video feature that may essentially put Snapchat to bed for good.
Three sources revealed to CNBC that Twitter is working on a camera-centric feature that will possibly work the same way Snapchat’s location-based snaps are gathered and displayed in the discover tab. The source told CNBC that new feature will grab photos and videos gathered in real-time then share and combine them withTwitter Moments creating an information hub about notable events taking place at the time.
Another reason this might also be true is this gives Twitter the ability to work with advertisers by allowing them to place sponsored content or ads in between photos and videos. This idea totally makes sense if Twitter hopes to keep bringing in money. For the first time in its existence, Twitter reported its first profit, so this idea could possibly help them keep up that moment and turn in an even bigger profit.
No timetable of the feature’s rollout has been announced but CNBC sources revealed they did see it in action and that it’s still in its early stages. There is a huge window of opportunity for Twitter to capitalize on Snapchat’s misfortune especially with people like Rihanna and Kylie Jenner telling their millions of fans the app is trash.
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