Business Briefs: Student loans, Snapchat, music industryPosted: Updated:
Student loans are causing more than just a financial burden. A Student Loan Hero survey finds 13 percent of divorces are blamed specifically on student loans. The debt is causing conflict over things like buying a home and having children, according to Cheddar. The average loan debt after graduation is more than $34,000.
There has been a slowdown for Snapchat. The company says it lost 3 million users over the last quarter thanks to a criticized redesign. It now has 188 million daily active users. However it's not all bad news, Snap says a Saudi billionaire has purchased a stake in the company worth $250 million.
Performers are allegedly only getting a small fraction of revenue from the music industry. A new report from Citi finds in 2017, only 12 percent went to artists. The rest goes to distribution platforms, record labels and marketing.