Snapchat crosses 750 million monthly active users
A significant increase in Milestone was announced by the parent company of Snap, Inc. On a global scale, the platform has surpassed 750 million monthly active users. About half of these users are those who open and use the application on a daily basis.
This figure was unveiled by the company during an event for investors yesterday. As per information from an official press release, Snap has reached up to 150 million active users in North America. An average analysis shows that US-based users open the application about 40 times a day. According to Jack Bordy, the company’s VP of product, 60% of users who open the application for taking photos do so. On a daily basis, 5 billion snaps are sent around the world.
Despite having users all across the world, CEO Evan Spiegel disclosed that 20 nations account for more than half of Snapchat’s overall advertising market. The Snap CEO said that nearly two-thirds of 13- to 34-year-olds in some markets use the app, though he did not name them. The short vertical video feed on Snapchat called Spotlight, which was inspired by TikTok, is quickly gaining popularity among users. But more than anything, new consumers adore its augmented reality features. On their first day of using Snapchat, more than 70% of users use augmented reality.
Throughout the first six months of its inception, Snapchat+, the company’s subscription service, acquired over 2.5 million new subscribers. The program, which offers users a few exclusive features, is expected to bring in more than $100 million in income annually. The app’s social map function, Snap Map, is also often used. Users open Snapchat an average of six times per day, and there are over 300 million users worldwide.
Snapchat is aiming to reach up to 1 billion users within 2–3 years
Compared to Instagram from Meta, which has over 1.2 billion monthly active users, Snapchat has only 750 million monthly active users. Over three billion people use Facebook each month, and two billion use it every day. But, in this crowded social media landscape, Snap is blazing its own trail. The business claims it is expanding at a healthy clip and will surpass one billion users in the next two to three years.
“With our core product of visual communication providing significant reach into some of the most important markets in the world and a young demographic that is quite hard to reach elsewhere, we are well on our way to building a community of 1 billion monthly active users,” said Snap’s CFO Derek Andersen. “We believe that augmented reality will be the driving force behind the next computing platform, and that our combination of leading augmented reality technology, a well-established creator ecosystem, and a community deeply engaged with augmented reality experiences positions us well to be a leader in the next computing platform transition,” the company said.
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