Snap Inc., is going to release their earnings today after the market close and this is a moment of truth for the company. A lot has been said already, Snap needs to prove that their business model is consistent. The most positive factor about the Snap's earnings would be the potential audience growth - while the audience is growing, management should find out the way how to monetize the audience. Nowadays Snap's monetization relies on marketing campaign aimed to increase the brand awareness. Also you may have seen lots of times different statements regarding the average age of Snap's audience, however do you really think it might be a problem? Brands do not need to sell high-end products through the app, such companies as Nike, Under Armour, Gap and some others through the brand awareness campaigns might see a significant increase of top-line revenue. Even such young audience could buy sneakers or jeans and when it comes to the choice - brand is the most important factor for exactly this audience. Brand and its strength is really important nowadays, it's hard to accurately measure the statistics of such advertisement though. Analysts are very cautious regarding SNAP, 16 'hold' ratings were iterated recently:Source: Financial TimesThe upcoming earnings call would be about the audience growth, not the revenue, margins and EPS, just the actual audience. There are certain risks that make Snap's life harder and the most important risk factor is Facebook. My guess is the following: Snap's audience won't grow as expected and therefore the stock will dip after the earnings. Agree or Disagree?