Android-owning US social media users in June spent almost as much time using Instagram as they did Facebook, SimilarWeb data reveals.
Recode reports that an average of 53 minutes per day was spent on the app in June 2018 – that’s just five minutes shy of the 58 minutes clocked on Facebook. It’s also ahead of the 49.5 minutes spent using Snapchat.
Furthermore, Instagram growth began tracking ahead of Facebook in October 2017 and could surpass its parent service by the end of the year. Instagram overtook Snapchat in January and has in the last two months started to extend its lead over its ailing rival.
However, it’s worth noting that all three platform continue to see engagement growth.
Time spent in app is an especially important metric as it has a direct correlation with how many ads are seen and for how long.
All of this comes at a difficult time for Snap. As recently as last week analysts slashed their expectations for the company, sending its shares into freefall. In March 2017 Snap was trading at $27.09. Today it trades at $13.10, although that is up on its May 2018 low of $10.58.
Around the same time an analyst at Needham & Co spoke of a “dramatic slowdown” in the amount brands were spending on the company’s products.
In contrast, Facebook-owned Snapchat rival Instagram is in the ascendancy, having now hit a market worth of $1 billion. It recently passed the 1bn user milestone too.