Wall Street Journal and Snapchat: digital shift à la millennials sauce
On January 6, the Wall Street Journal (WSJ) announced his arrival in the Discover section on Snapchat. This is the first American daily and the first financial publication to become an active contributor to the "new genre" messaging services, alongside Buzzfeed, National Geographic and CNN.
The publication dedicated to the world of finance therefore addresses a readership mainly composed of young people between 15 and 24, also termed millennials (70% of the 100 million Snapchat users). But why?
First, the WSJ wants to renew its readership with this advance positioning in younger audiences as a reference publication. According to Ken Doctor from Outsell, a research company, this is mostly an attempt to benefit from the huge commercial potential of millennials who are mostly shunning traditional medias. Curiously, that means the WSJ is now presented as a competing information offer to Vice and Mashable.
People at Snapchat are convinced of the relevance of the WSJ contribution to its news offer. "A 19-year-old may not come across what the Iran deal is, but if it’s in their face in Snapchat, where they’re living all day, I kind of see that as a social good,” Snapchat head of news Peter Hamby said last fall. Moreover, with this improvement, Snapchat may consider increasing its market share with an older audience, because the arrival of the WSJ actually gives additional credibility to its information services.
Still, Facebook has seen young people deserting its pages as the average age of users progressed. Knowing the legendary loyalty of millennials, will they continue to use Snapchat when the platform will attract a higher proportion of adults or young adults? It seems that the leaders of Snapchat chose to take that risk.