According to a recent survey of 5,844 college students from 11 US institutions, a staggering 89% of students have received at least a portion of their news from social media in the past week.
As expected, Facebook (FB) is currently the most popular of all the social media platforms for college-aged students to gather their news, with 71% of respondents stating they used Facebook at least once over the past week.
Snapchat, which lost more than 3 million users in the previous quarter, was the second most popular platform for news with 55% of respondents. YouTube (GOOGL), Instagram and Twitter (TWTR) were close behind with 54%, 51% and 42%, respectively.
This trend was likely a factor in Snap’s recent decision to partner with 25 different media companies to bring original content to Snapchat. These partners include big names like CNN and NBC, in addition to newer outlets like LADbible and Wave.
Given the significant drop in user retention following Snapchat’s February update, this type of metric is likely something Snap will look to further capitalize on moving forward.
Shares of SNAP are currently down over 50% this year and nearly 75% since it IPO’d in March of 2017.