Snap's drop in users signals social media peak

Snapchat's decline follows similar trends reported by Facebook and Twitter

For years, people seemed to have an unlimited appetite for signing up for social media services. Now some of those companies may be hitting a wall to adding new users.

On Tuesday, Snap, the maker of the Snapchat app, said it lost three million daily active users in the second quarter from earlier this year. It was the first time since the company went public in early 2017 that it had reported a decline in users.

Snap’s report follows similar trends from Facebook and Twitter. Facebook revealed late last month that its number of users in the United States was flat from