Snapchat CEO Evan Spiegel said that less time is being spent watching Stories from friends in the app. Instead, Snapchat users are flocking to watch videos on Spotlight, Snapchat’s TikTok rival for viewing viral videos. Mark Zuckerberg, the CEO of Facebook parent company Meta, also identified TikTok as a formidable threat this week. Snap invented the Stories format of sharing pictures and videos that disappear, but now it and Meta are playing catch up. It's notable that both companies both see TikTok and Snapchat as competition. This is significant news for creators as it signals a shift in the way people are using Snapchat. Instead of spending time watching Stories from friends, users are turning to videos on Spotlight, which is a rival app created by Snap. This indicates that there is still plenty of room for growth for creators on Snapchat and that they have not yet reached their peak popularity.

February 7, 2022 12:31 PM