Snapchat has 150 million users. However, according to a series of recent studies by RBC Capital Markets in partnership with Ad Age magazine, advertisers and marketers are significantly less interested in spending money on Snapchat than with competing services like Instagram and Facebook.
Of the 1,600 marketers surveyed, including those with small budgets, more than 450 said they wanted to increase their spending with Google and Facebook, only 119 said the same of Snapchat.
Instagram announced on Wednesday that it now has 1 million businesses advertising monthly across the photo-sharing app, a 400 percent increase from a year ago. Read more here.