Online brokerage firm Robinhood (NASDAQ:HOOD) has announced what it calls two new milestones in the growth of Snacks, the company’s in-house produced financial news service. Robinhood said that it is kicking off its first-ever content partnership with Snapchat to bring Snacks’ brand of highly digestible and engaging financial content to Snapchat’s mobile-first audience.
And very soon, the company said that it will be rolling out Snacks content in the Robinhood app to a small subset of its customers.
We would note that Robinhood is embroiled in a lawsuit around Snacks, and the use of celebrity Ice Cube’s image and likeness to promote Snacks.
Robinhood said that education is core to accomplishing its mission. With the rollout of Snacks in its app, it is meeting customers right where they are and providing financial news in a jargon-free, digestible and engaging format. Throughout the month, Robinhood will be gradually rolling out the Snacks content to all customers in the Browse tab of the Robinhood app.
The company noted that its customers have come to love Snacks’ daily newsletter and podcast. The Robinhood Snacks newsletter had 24.6 million unique people open it in Q2 2021, up 171% year over year while the podcast was downloaded 11.4 million times during the quarter, up 19% from year over year.
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, Robinhood said that it will further expand the reach and formats of our educational news and resources for young investors.
New episodes featuring the day’s top financial news stories will air twice a week on Snapchat’s Discover, and episodes will average three minutes in length.