If early reviews are any indication, Snap’s decision to overhaul its messaging app may have backfired with its key teen demographic.
And Daily Beast reporter Taylor Lorenz says the changes may not bring in enough “older” users over the age of 25 to make up the difference.
“It’s going to have to provide a more compelling use case for them,” she told Cheddar. “Older users are not looking to chat on it. A lot of them use other chat platforms -- Stories has been taken over by Instagram.”
Snap has seen backlash from younger users over a complete redesign that was rolled out globally last week. When announcing the new look, CEO Evan Spiegel said the changes separate the platform from the rest of social media and strengthen its relationship with users and the media.
Lorenz says that could mean the app becomes more of news destination, but whether the strategy pays off remains to be seen.
“They’re hoping to have 10 thousand tiles on the right hand side, so that’s a big opportunity to sell ad inventory. But I think they’re going to need to come up with more unique products, and I think they’re going to have a really hard time competing with Facebook and Instagram who have so much data.”
And for those hoping the company will revert to its old design, Lorenz says not to hold their breath.
“There is less than a zero chance, I’m so sorry to all the youngsters out there. There’s no going back, unfortunately, for them.”
For full interview [click here](https://cheddar.com/videos/snapchats-teen-revolt).
X Corp. CEO Linda Yaccarino told CNBC that she has "autonomy" under Elon Musk, adding that she wants advertisers to be comfortable to return.
Verizon Wireless said it plans to raise the prices of some of its plans.
Food service workers in Las Vegas are set to take to the Strip Thursday as they demand higher pay and better benefits.
GM President Mark Reuss joined Cheddar News to discuss the company's new Cadillac Escalade electric vehicle and talked about how to make affordable EVs for the general public. "That's who we are as a company -- we will offer vehicles for everybody and every different income level," he said.
Lauren Fix, automotive expert with 'The Car Coach,' spoke with Cheddar News to provide tips and advantages on buying a used vehicle. "You let somebody else take the depreciation, which is probably one of the best things ... you then move in at a two- or three-year-old vehicle that maybe was leased, and you can get some great values," she said.
Disney said it's increasing prices for its ad-free streaming services as the company is losing subscribers and also announced it planned to crack down on password-sharing. Cheddar News' Michelle Castillo broke down Disney's moves.
Lawrence Sprung, a certified financial planner and author of 'Financial Planning Made Personal' shares advice about how to teach kids to use credit wisely.
Disney is cracking down on password sharing for Disney+ users.
Tapestry, the parent company of luxury handbag Coach and Kate Spade, agreed to buy Capri Holdings, the owner of fashion brands including Michael Kors, Versace and Jimmy Choo.
Disney reported a mixed performance in its latest quarterly results.
