Snapchat’s Daily Active Userbase Grows to 210 Million
Oct. 23, 2019Facing some intense competition from Instagram, whichcloned a number of its featuresincluding Stories and ephemeral messaging, Snap has been finding it hard to grow its user-base. The number of users on the app has been pretty stagnant and moving at a snail’s pace, however, the latest quarterly results show that Snapchat’s userbase is growing.
Snap CEO Evan Spiegel in an official press release says,“We are a high growth business, with strong operating leverage, a clear path to profitability, a distinct vision for the future, and the ability to invest over the long term. We are excited about executing on the many opportunities in front of us.”
The Discover platform, which is used to serve premium content to users, has achieved a milestone 10 million viewers across more than 100 channels. The watch time has grown 40% year-over-year, which is great, and horror-thriller Snap Original Dead of Night has amassed over 14 million unique viewers within a month.
Snap, if you haven’t heard, also makes wearable hardware products and plans to tackle augmented reality (AR) prospects down the road. Spectacles 3 were launched recently, however, they are designed for a niche audience, but is offering the company feedback towards improving its wearable devices. Spiegel calls Spectacles 3“an important step towards an augmented reality future”and well, that could be true.
In addition to talking about its user growth and financials, Snap also revealed what it’s planning to achieve over the next 10 years. A short-term goal is to make it simpler for users to monetize Snapchat – especially AR content. The next three to five years would witness improvement and monetization of its map and gaming platform. And finally, the company aims to overlay the world with augmented reality content – not just stickers in coming ten years via its wearables. Sounds plausible? Let us know your thoughts in the comments below.
