The move comes as the 5,000-person company faces mounting pressure. Advertising revenue growth flatlined at 4% in the second quarter, and North American daily active users declined 2% to 98 million, a troubling sign in Snap's most important market. Spiegel does highlight one bright spot: Snapchat+ subscriptions now generate over $700 million in annual recurring revenue from more than 15 million paying subscribers, making direct revenue "one of Snap's fastest-growing opportunities."
Jottings of note: Speed Test Podcast the fastest growing audio medium, listening is highest among young people, driven by young people trending toward daily listening. Those are key takeaways of the PodPoll Report 25 reports, produced by audio strategy and production firm Deadset Studios. All of this pertains to the Australian consumer sudience, where younger listeners over-index as podcast onsumers.
Total net revenues-- Total net revenues were RMB 7.3 billion in the second quarter, up 20% year over year, with games and advertising as the main growth drivers. Games revenue-- Increased 60% year over year to RMB 1.6 billion, propelled by new seasons of the SLG title and celebration events. Advertising revenue-- Grew 20% year over year to RMB 2.4 billion, supported by AI integration, enhanced ad infrastructure, and an increased advertiser base.
The advertising exodus from Twitter, now X, has forced Elon Musk to resort to legal threats against businesses to maintain ad revenues amidst a backlash over racial content.
Analysts expect Opera's shares to rebound, projecting a price target of $25 which indicates a potential 44% gain, driven by strong performance and growth.
