The increase exceeds Twitter and Meta, this company is overtaking the Metaverse corner

Meta planted flowers without intention, but Snap planted willows and willows unintentionally

It seems that the days of social media have not been very good recently . Facebook , which has put its future destiny on the Metaverse and even changed its name to Meta , has not had much luck because of this. After announcing a less-than-expected earnings report in February, its stock price plummeted 26%, and the company’s market value A loss of $237 billion was the largest single-day drop in the history of U.S. stocks , and Xiao Zha ‘s personal wealth shrank by $29 billion to $85 billion.

Not only that, the industry is also very optimistic about the future of Meta’s Metaverse. Whether it is the infrastructure of the Metaverse, VR or AR, Meta has spent billions of dollars for this, but it is lagging behind in every track. Reality Labs , the Metaverse division Lose $20 billion in 2021.

The increase exceeds Twitter and Meta, this company is overtaking the Metaverse corner

Source: Network

Twitter is not only caught in the drama of selling itself to Elon Musk , but also in the report for the first quarter of 2022 said that the number of daily active users in the past three years has been “water-filled”, with about 1.4 million to 1.9 million users per quarter. . Such a “mistake” had already happened in 2017, when it had falsely reported about 1 million to 2 million daily active users for three consecutive years.

However, Snap , the parent company of Snapchat , who has gone through several transformations and maintained a relatively low-key style in the past two years, has become a dark horse and has performed well.

Snap announced its financial results for the first quarter of 2022 in April. The number of daily active users reached 332 million, an increase of 18% year-on-year. The growth rate of users in the previous five quarters has reached 20%. At the Eco-Partner Conference, it was announced that it has more than 600 million monthly active users worldwide, reaching more than 75% of the 13-34-year-old population in more than 20 countries or regions. The revenue in the first quarter was 1.06 billion US dollars, which was the same as the same period last year. That’s a 38% increase over the previous year, which is not only Snapchat’s fastest-growing period in recent years, but it’s outpacing Meta and Twitter.

The increase exceeds Twitter and Meta, this company is overtaking the Metaverse corner

Snap Inc.

Meta announced the performance of the previous quarter in February. The monthly active users were the same as in the third quarter of last year, at about 2.9 billion, but the daily active users dropped from 1.93 billion to 1.929 billion. This is not only the first time for Meta, which has grown above everything else. Once, and a bit humiliating, its shares fell 20% as soon as the numbers were released.

Figures released by Twitter in February show that the average number of profitable daily active users reached 217 million in the previous quarter, an increase of 13% year-on-year, of which the US increased by 2%, overseas regions increased by 15%, and the number of daily active users in the first quarter of 2022. 229 million, up 15% year-on-year, still slower than Snap.

01 Snap’s bumpy road

Speaking of which, Snap’s nearly ten-year history has not been peaceful. In 2013, Facebook tried to buy the two-year-old Snapchat for $3 billion, but Snap’s founder Evan Spiegel said he would not sell it!

In the past few years, Facebook has openly copied many features of Snapchat, such as Poke imitating Snapchat’sSnapchat ‘s short video , Slingshot imitating Snapchat’s short video , and now the most popular feature on InstagramStories is also stolen from Snapchat, not only Even the name has not been changed, and it is used in multiple products including Instagram , WhatsApp and Messenger , and Xiao Zha is said to have approached Snapchat again in 2016 to try to buy it, but again got a negative answer.

The increase exceeds Twitter and Meta, this company is overtaking the Metaverse corner

Facebook Stolen Stories

Snapchat went public in 2017, but a year later, due to huge pressure from competitors and internal product defects, its performance was very poor. After announcing its second-quarter earnings report, the stock price fell 13%, and sales decreased by 44% year-on-year. %, and for the first time ever, the number of daily active users also decreased.

Faced with such challenges, Spiegel made the decision to focus the company on technological innovation and AR as the main direction, transforming from social media to “allowing people to express themselves, live in the moment, explore the world and have fun together through the camera. “The camera company, several years have passed, and Snap’s AR development has become a powerful advantage for it to compete with waves of social platforms, and a weapon for business growth.

02 Carry out AR to the end

At its partner conference in late April, Snap said that it will continue to focus on the camera and AR, and has launched a series of new features, including:

Pixy , a drone camera launched to better achieve the mission of the “camera” company , is only pocket-sized, requires no remote control and complicated settings, and the user only needs to press a button, and the Pixy will automatically fly to a predetermined altitude according to a preset route , floating in the air or tracking users to shoot, making selfie sticks a thing of the past, Pixy is currently priced at $229.99, and the photos and videos you take are automatically uploaded toSnapchat Memories for easy editing and sharing.

The increase exceeds Twitter and Meta, this company is overtaking the Metaverse corner

Pixy

Snap has made a lot of efforts in AR in the past two years. For example, the AR developer platform Snap AR allows creators around the world to explore and create AR special effects. Currently, more than 250,000 creators have created more than 2.5 million on Snapchat. Special effects filters, viewed more than 5 trillion times.

Lens Studio , an AR-oriented development environment, has many built-in features to help developers create AR experiences. The new version of Lens Studio will support Ray Tracing, which allows AR objects to have realistic lighting reflection effects, bringing more lifelike effects. Visual effect. Tiffany & Co. can use it to simulate the true sparkle of a diamond ring, and Disney can use it to better show the effect of Buzz Lightyear ‘s space suit.

The increase exceeds Twitter and Meta, this company is overtaking the Metaverse corner

Buzz Lightyear & AR

This time, Snap has launched a new Lens Cloud service to provide developers with back-end service support for free, allowing developers to create group filters for multiple users, create special filters for different geographical locations, and store special effects. It is easier to create more interesting and interactive AR content, such as “resurrecting” big dinosaurs in museums👇

The increase exceeds Twitter and Meta, this company is overtaking the Metaverse corner

Snap Lens Cloud

Third parties can also use Camera Kit , a camera kit created by Snap for them, to enjoy the charm of the Snap AR platform and enhance the consumer experience. Samsung , Disney , and Microsoft Flipgrid are all its customers. Samsung’s previous Galaxy A series Tried the built-in Snap AR lens in the camera, and the usage exceeded 1 billion times! ‍

Snap’s AR layout has also brought it more usage scenarios and potential customers. For example, AR special effects can make the event experience more immersive. At this conference, Snap announced that it has reached a partnership withLive Nation . Large-scale music festivals and concerts will Using Snap’s AR technology, performers can tell more vivid stories and enhance sensory experiences, allowing audiences to try on merchandise, find friends and explore exclusive landmarks around the performance venue, taking the overall event experience to a higher level, Chicago’s Festivals such asLollapalooza , Wireless Festival in London and Rolling Loud in Miami will be the first trials.

The increase exceeds Twitter and Meta, this company is overtaking the Metaverse corner

Snap & Live Nation

AR special effects can also play an important role in shopping. Since the epidemic, consumers have turned to try on clothes online. A Nielsen survey shows that about 51% of consumers are willing to use AR technology to try on to get more realistic and comfortable clothing. Interesting try-on experience, Snap has also stepped up its efforts in AR shopping since last year, such as putting the scanning function on the top of the camera section and allowing users to scan other people’s clothing through the Screenshop function and get system-recommended product recommendations; this year At the beginning of the year, it added features such as product details and real-time pricing to the AR shopping function, allowing users to make better decisions while trying on clothes. Since January last year, 250 million users have used Snap’s AR shopping function more than 5 billion times. , Zenni Optical ‘s AR lens has been tried on more than 60 million times by users, and the advertising rate has increased by 42%.

At the conference, Snap announced more details about the Camera Kit for AR Shopping , a kit that inserts Snap’s try-on lenses into the brand’s product pages, allowing users to easily try on clothing, accessories and Shoes and more. Brands can use the AR Image Processing function to turn products into AR shopping lenses in seconds, and then users can easily try on a variety of products just by taking a full-body photo. Puma will become the first partner to use this technology. Consumers can automatically try on the products they are browsing by simply pointing their phones to their feet, and instantly see the effect of Puma shoes on their feet. In the future, Snap will also add furniture and Multi-category AR shopping templates such as handbags support more shopping scenarios.

The increase exceeds Twitter and Meta, this company is overtaking the Metaverse corner

Puma &Snap AR shopping

Snap will also add a Dress up section to the app, where users can browse and explore try-on content from creators and fashion brands for more inspiration, as well as bookmark items to their personal accounts for quick access later .

The increase exceeds Twitter and Meta, this company is overtaking the Metaverse corner

Snap Dress up

Not only fashion, Snap’s AR solution has also become the preferred choice for many game companies and even Chinese game companies to go overseas. The urgency of game companies to go overseas is increasing, the cost of overseas online marketing channels is rising, and the overlap with users of other social products is low. And interactive AR filter marketing suitable for games is a good choice. Snapchat has more than 200 million active users who use AR filters more than 6 billion times on average every day. By designing characters and actions in the game into AR filters, game brands can create a more vivid experience and strengthen social attributes, and can also help games of promotion distribution and player interaction, as well as subsequent paid conversions, some customers have seen conversion rates as high as 94% through the use of AR for advertising and marketing.

In addition, HBO Max has partnered with Snap to allow viewers to watch new series first through Snap’s co-watching feature, Ticketmaster has partnered with Snap to recommend peripheral events that users may be interested in on Snap Minis , and more… Snap will AR has developed many new scenarios. For it, AR has become a real economic ecology with hundreds of millions of users. At the same time, it has also unexpectedly “revenge” Xiao Zha, becoming one of the first leading platforms to deliver the promise of the Metaverse.

The increase exceeds Twitter and Meta, this company is overtaking the Metaverse corner

Ticketmaster & Snap

03 The unintentional leader of the Metaverse

Snap’s exploration of shared space and camera experience actually started very early. In 2016, it launched its first glasses ,Spectacles . The main function is to record video with one click and sync it to the mobile phone. In the past few years, it has added a 3D filter. Mirror and other functions and appearance improvements. The latest version of Spectacles focuses on AR. The glasses look full of technology and are equipped with Snap’s own WaveOptics waveguide . Its color and clarity can bring users an excellent visual experience. It is equipped with 2 RGB cameras. , 4 built-in microphones and 2 stereo speakers, a touchpad at the temple allows users to interact with the display screen to experience various lens effects; functionally realizes the interactivity of multiple people sharing the same lens with Spectacles, multiple Users can see the same special effects and even play games at the same time. Users can record pictures through the camera of the glasses and send them to friends through Snapchat, which once again increases the social experience.

The increase exceeds Twitter and Meta, this company is overtaking the Metaverse corner

Snap Spectacles

Snap currently gives Spectacles to many developers to let them try it out and inspire them to create more special effects and games, and many media in the technology circle have also taken the lead and shared many usage scenarios, such as learning, shopping, Games, experiential art, and more will revolutionize the way we explore the world and live in the long run. According to information from the technology media, Meta has lagged behind Snap by at least 4 years in the AR field, and the VR field that Meta focuses on is not so easy to popularize due to public awareness and equipment costs. Instead, social platforms such as Snapchat and Pokemon Games such as Kemeng have educated the public on AR, so that they understand that a small screen can become the entrance to another world, and AR has thus become the vanguard of the Metaverse.

The definition of the Metaverse can be a virtual world created by technological means that interacts with the real world. In the process, the real world will be virtualized and digitized, and the content and user experience of the physical world will be very different. Snap’s strong active users Groups, location-based experience modes, AR filters, and glasses bring it very close to achieving that goal. At the same time, an important part of the economic ecology of the Metaverse is the creator economy. UGC content will build a virtual world and carry important experiences and entertainment for users. Snap has also been making arrangements to give creators freedom and tools for originality, such as allowing Developers use Spectacles glasses for filters and game creation. At the conference, Snap announced a new feature called ” Director Mode“, which allows creators to use new dual cameras and green screen modes to facilitate filming and editing. It also facilitates the addition of more creative tools for creators in the future, lowers the threshold for creation, and achieves the goal of “everyone becomes a director of life”.

The increase exceeds Twitter and Meta, this company is overtaking the Metaverse corner

Snap spotlight

It is said that Snap “accidentally took revenge” on Meta, in fact, because the founder Spiegel does not have a passion for the Metaverse like Xiao Zha. On the contrary, he is very unfamiliar with this concept. He has publicly stated that Snap will not use the Metaverse. Concept, because it is vague and full of assumptions, if you ask several people at the same time what their definition of the Metaverse is, you will get many different answers.

Several companies, including Meta, are working hard to replace reality with technological tools, while Snap’s AR research and development direction is to make the real world more colorful. In Spiegel’s view, Snap’s glasses and platforms can now achieve this. A vision that promises and has solid next steps to reach the desired future is far more plausible than the promise of the Metaverse.

Although this answer is a bit “learned bitch”, I have to admit that when Xiao Zha and others are still selling the dream that we will live and socialize in the Metaverse in ten years, Snap has achieved the task of augmenting reality with the latest technology, enriching The virtual experience of the real world and the establishment of a sustainable and scalable business market, perhaps the obsession with the Metaverse will not bring us to that world faster, but some unintentional interventions focusing on user experience are more worth trying. , both in the virtual world and the real world we already have.

Reference source:

Snapchat is growing faster than Facebook and Twitter(TechCrunch)

SPS 2022: Powering New Camera Experiences Through the Snap AR Platform (Snap Newsroom)

Snap’s new AR tools turn photos into 3D assets, let retailers use Snap’s AR tech in their own apps (TechCrunch)

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