Snap positions desktop version to compete with Zoom
Yahoo Finance tech reporter Allie Garfinkle examines Snapchat's subscription-based web version and the outlook on how this move may impact Snapchat content such as NBC's "Stay Tuned".
Video Transcript
RACHELLE AKUFFO: All right. Well, in other streaming news, Snap and all of its original content is coming to our desktops. Yahoo Finance's Allie Garfinkle is here with more on the topic. Allie, what do we need to know?
ALLIE GARFINKLE: So it's interesting, Rachelle. This sounds like it's a chance for Snap to really find more ways to stay connected to its users, which, as you heard, are a younger demographic. But I want to actually tie this into other Snap news too.
Snap officially launched its paid subscription plan, Snapchat Plus, about two weeks ago, and this announcement is actually tied in with that, because the desktop feature is actually going to be available specifically to paid subscribers in the United States, the UK, and Canada. This is kind of a moment where there's a lot going on at Snap.
I really also want to bring in the macroeconomic background, as they're set to report earnings this week. Snap took a hit in the tech crash, Rachelle, a really big hit. They're down about 70% year to date. So this announcement is also sort of coming at a key moment for them.
SEANA SMITH: And, Allie, it certainly does resonate with Gen Z, right? A lot of their users are Gen Zers, and Snap, in particular, has been successful, as well as NBC News, in terms of the news program that they put on Snap on a daily basis. Now they're expanding that. What does that mean for Snap and how this could potentially change news here going forward, at least for our younger generation?
ALLIE GARFINKLE: That's a great question, Seana. Snap and NBC are planning to expand their partnership on the news show "Stay Tuned," right? It averages about 1 million views per episode on Snapchat, and they've passed 1 million followers on TikTok, which is also, as you know, a platform that really is a Gen Z-centric platform.
NBC actually invested in Snap in conjunction with its IPO, as it's been looking to build a footprint with Gen Z. So I think things we can expect are, one, NBC is really looking to kind of continue to build out that Gen Z footprint, and, two, that it really strikes me as a win-win for both companies. As we said, Snap's taken a hit in the tech crash. I'm sure that win is deeply appreciated.
SEANA SMITH: All right. Allie Garfinkle, thanks so much.
