Snap Inc’s Snapchat lags far behind rival social media outlets Facebook Inc, Instagram and Twitter Inc in reaching older users, but the soon-to-be public company has been growing that crucial audience, analysis by MoffettNathanson of a regulatory filing showed. As Snap prepares for its planned stock market debut in March, luring users older than 35 to the mobile app known for user-generated photos and videos that disappear after 24 hours is seen as key in driving its overall growth. While advertisers covet younger consumers, those 18- to 24-year-olds can be notoriously fickle when it comes to social media preferences, often moving on to the next big thing. Snap said in its S-1 filing on Thursday that its younger-skewing user base leaves the company more vulnerable than traditional media outlets to changing consumer tastes, and that it could have trouble reaching older demographics. Snapchat reaches 35 percent of all Americans, according to research firm MoffettNathanson’s report, but that reach is concentrated among younger users. During the fourth quarter of 2016, Snapchat reached 70 percent of 18- to 24-year-olds, but just 23 percent of people over 35. By comparison, Facebook reached 88 percent of people over 35 during the same period. Instagram…
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