Robinhood launches news feed via Snapchat for younger audiences
Robinhood is making a move toward the younger audience as Snapchat reaches 90% of all 13-24 year-olds and 75% of all 13-34 year-olds in countries like the U.S., UK, France, Australia and the Netherlands.
Robinhood has announced its first-ever content partnership with Snapchat to bring Snacks, the neobroker’s proprietary financial news tool, to Snapchat’s mobile audience.
Snacks’ “brand of highly digestible and engaging financial content” will soon be rolled out in the Robinhood app to a small subset of customers.
Robinhood stated that education is core to accomplishing its mission, of democratizing access to financial markets for everyone.
“With the rollout of Snacks in our app, we’re meeting our customers right where they are and providing financial news in a jargon-free, digestible and engaging format”, said the official statement.
“Throughout the month, we’ll be gradually rolling out the Snacks content to all customers in the Browse tab of the Robinhood app”.
The Robinhood Snacks newsletter had 24.6 million unique people open it in Q2 2021, up 171% year over year and its podcast was downloaded 11.4 million times during the quarter, up 19% from year over year.
Robinhood is making a move toward the younger audience as Snapchat reaches 90% of all 13-24 year-olds and 75% of all 13-34 year-olds in countries like the U.S., UK, France, Australia and the Netherlands.
“By providing engaging financial news to Snapchatters, we’ll further expand the reach and formats of our educational news and resources for young investors”, the firm added.
Snapchat’s Discover will feature episodes with the day’s top financial news stories twice a week and episodes will average three minutes in length.
While Snacks is proprietary, there are several financial news feeds services for the trading industry, namely EarlyBird which has recently launched its service for retail brokers via MetaTrader 4 and 5.
While Robinhood endures a lawsuit filed by several investors who feel were treated unfairly by the broker’s disruptions during the short squeeze earlier this year, the firm continues to expand its offering.
Robinhood seems to be working on a crypto wallet and transfer features that would facilitate the deposit and withdrawals of cryptocurrencies.
The company reported that 63% of its accounts have traded crypto ever since its introduction on the platform.
The neobroker has also rolled out crypto recurring investments to help investors grow holdings over time while potentially reducing the impact of market volatility.
The platform continues to grow despite the increased scrutiny from the SEC and attempts from the regulator to shut down some of its marketing and revenue-generating practices over the last few months.
