For quite a long time, the users appeared to have a boundless hunger for catching up with every incoming social media platform. But for now, few companies seem to be reaching the edge of the expansion of their user base. In the statement released on Tuesday the company said that the number of active users on daily basis has reduced by almost 3 million in second quarter of the current year.
The company reported the reduction in its number of users for first time from the last year when company had its issue in the market. Along with the Snapchat, the twitter and the Facebook are also experiencing the similar trend in the drop. Facebook issued a statement last month stating the reduction in the daily users throughout the US as compared to the first quarter of this year. At the same time, the users from the European region had also declined. On the contrary, the number of users in total has increased.
On the other hand, Twitter has been struggling for a couple of years now to create interest for the users on to their platform. The micro-blogging site has also reported a loss of over a million users. As these statements were released, the stocks of both the companies dropped down. The sharp dropdown in the growth rate of the users has ignited the discussions about social media platforms reaching the saturation point, especially in the countries which are developed. One of the reasons behind this might be the recently happened incidences with the loss of information and interference of the external parties with the user data. Both the social media companies were once again into the limelight over an article in the New York Times about how both the companies were dealing with the misinformation spread.