Inside Snap - August 10th, 2017

Inside Snap (Aug 10th, 2017)

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Starting Monday, we'll be folding Inside Snap and Inside Facebook into a new newsletter we're calling Inside Social. We'll continue to cover all the issues surrounding these two social media giants, but will be able to keep you up to speed on other companies in the social space, like Twitter, Instagram, WhatsApp and more. 

Inside Social will arrive in your inbox five days a week, and will be open to all subscribers, free and premium, through the end of August. After that, four of the five issues of Inside Social will be for Premium subscribers only. Free subscribers will still get one issue per week, but will miss out on the special reporting and other content we have planned. 

A Premium subscription to Inside Social is only $10 per month, and considering you may be able to include it on your expense report as a research tool, that's not a bad deal. For an even better deal, sign up for our Unlimited Premium plan, which gives you access to the entire suite of Inside newsletters, including Inside Bitcoin, Inside AI, Inside Trump and more, for only $25 a month. Upgrade to Premium here

And as a bonus to subscribers of this newsletter,  we'll have a special roundup of Snap-only news which we'll bring you every other week. 

Thanks for being a loyal reader of Inside Snap. We think you'll appreciate the expanded coverage of social media we're planning with Inside Social. 

$SNAP (4 PM EST): $13.77 (+0.81%) More info

Snap Inc. (SNAP) reported its second-quarter earnings after the closing bell, and missed Wall Street's expectations. This is the second public quarterly financial data release since the company went public in March. Revenue for the quarter was $181.7 million, short of the $186 million expected by analysts, according to Thomson Reuters estimates. Snap lost $0.16 per share, versus expected losses of $0.15 per share. The company reported 173 million daily active users, an increase over the year-ago quarter when Snap had 143 million active users. However, that figure was short of the 175 million daily active users expected by Wall Street, according to Reuters. Last quarter, Snap reported a loss of $0.20 per share on revenue of $149.6 million, with daily active users of 166 million. Snap shares have been trading near $13.56 in recent sessions, having tapped a high of $29.44 in early March. – BI

Snapchat’s Story Search feature is allowing users to have a sneak peek at Apple's in-progress new headquarters. The $5-billion, spaceship-like campus is not found on Snap’s map itself but can be found by searching “Apple Park.” The site is not open to employees yet, so the Snaps are likely coming from construction workers. According to the images, Apple’s campus is nearing completion, with a main atrium with trees essentially finished. The content, which includes videos, disappears daily but is often followed by fresh content. – TECHCRUNCH

Snapchat is among the apps that have significantly improved in not draining the performance of devices, according to data from Avast, a digital security company. Avast measured how Android apps like Snapchat, Facebook and Spotify impact storage capacity, battery life and data use by collecting data from more than 3 million devices for three months earlier this year. Still, while Snapchat did improve, it ranks fifth for battery drain, following Samsung WatchON, Video Editor, Netflix, and Spotify. Snapchat hogs less data than Facebook and Instagram, which rank first and second on the list of worst apps for data use, respectively. Snapchat does not rank on the top 10 list for worst impact on data use. – ADWEEK

Facebook Inc. has eliminated its Groups app as a standalone app from the App Store and Google Play, and users will no longer be able to log in starting Sept. 1. The app is intended to let users with the same interests share information, as they would in a chatroom. Facebook launched Groups in 2014 and it became one of its most popular features. After Facebook unbundled Messenger from its main app, it next targeted Groups and its 700 million monthly active users. But Groups as a separate app never became as popular as Messenger, although it did have a significant following of about 15 million downloads, according to Sensor Tower data. – MASHABLE

Facebook Inc. has launched a redesigned video platform called Watch that is starting to roll out to users. The platform, which is replacing the current video tab in Facebook apps, will feature videos from content creators as well as content produced by Facebook itself. Users will have personalized tabs and Facebook says it will try to cater to their interests over time. Facebook has partnered with Major League Baseball to provide one live game per week through Watch. With limited space in its New Feed, Facebook could turn to this new live programming venue for more ad revenue. – THE VERGE

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