“From a revenue perspective, our business remains in a period of rapid transition as we work to improve our advertising platform, while forward visibility of advertising demand remains limited,” the company said in the statement.
Snap, which develops the Snapchat social media app, has been significantly changing its advertising business, adding tools that make it easier to match promotions to the people who want to see them, and measure how they performed. The company has also introduced several new kinds of ads. The investment has been costly—both because of the technology infrastructure and the disruption to marketers’ plans—but the company expects the revisions to increase revenue in the long run.
“We are excited by the progress we have made delivering increased return on investment for our advertising partners,” CEO Evan Spiegel said in the statement.
Still, revenue declined 4%, Snap’s second-straight quarterly drop in revenue from a year earlier. While performance in its core digital advertising business is bumpier, Snap is trying to make money in other ways. Its premium subscription offering, Snapchat+, continues to grow to 4 million users.
from Digital Marketing Education https://ift.tt/yU62bTY
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