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Snap’s tumultuous few weeks may have been a surprise for Wall Street, but not so much for the advertisers making up the bulk of the platform’s revenue.
Adweek spoke to five media buyers, none of whom said their clients had increased their investment in Snap in 2022. Three said they maintained a minimal investment in the platform—and two said they are spending less.
With increasing competition from rivals like TikTok, a fractured ads business (thanks, Apple), fewer performance-driven formats and a relatively lower-value user base, Snap’s return to focus on augmented reality, community growth and revenue growth has some challenges.
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