At its Investor Day event on Thursday, Snap shared a handful of new metrics on its business and teased its outlook. Notably, he said his social media app Snapchat now has over 750 million monthly active users. While the number is well below the roughly 2.96 billion monthly active users reported by Facebook earlier this month, it is ahead of others, including Pinterest, which recently reported hitting 450 million. monthly users.
It’s unclear, however, where Snap stands in relation to Twitter, which is no longer a publicly traded company following the acquisition of Elon Musk. Additionally, Twitter’s public numbers prior to the deal’s conclusion used a different metric — the metric coined by Twitter called mDAU, or Monetizable Monthly Active Users. This was meant to indicate how many users on Twitter would actually see its ads, Twitter said. That number was 237.8 million according to the latest July 2022 public revenue, which was lower than Snapchat’s 375 million daily users.
TikTok, meanwhile, has announced its milestone of one billion monthly active users in 2021 and is expected to hit 1.8 billion by the end of 2022.
Snap also teased its new product offerings, including its Snap 3D map and a recently launched feature called Communities. The latter is for private groups where members can add friends and post to a shared campus story. The feature has launched in middle and high schools and will roll out to other communities over time. So far, more than 1,400 colleges in the United States have access to Communities, the company said.
He also touted the success of his $3.99/month paid subscription, Snapchat+, which now reaches 2.5 million subscribers, a more accurate figure than the 2+ million announced in the results.
Of course, what investors want to know is how Snap is handling the competitive landscape, including the threat of TikTok, how its investments in its advertising business will help drive growth, and whether it can offer any advice for the future. coming. It can happen later in the day.
In the first part of the event, Snap also shared a slew of other metrics with investors, including several that were recently announced during earnings.
These included:
- Snap’s community outside of North America and Europe has grown over 80% since Q4 2020
- 95% YoY increase in new daily users with 3 or more friends; Snapchat users talk to at least 3 friends during the month
- Snapchat users share memories with friends 280 million times a day, on average
- For 5 years after a user’s first year of service, annualized retention averages around 90%
- US users open Snapchat almost 40 times a day on average; Over 60% of users who open Snapchat every day create Snaps
- Over 5 billion Snaps created every day, on average
- 88% of users who Snap or chat with a friend will use the app every day for the next 7 days
- Snapchat’s card is used by more than 300 million users per month; Daily card users open the card 6x per day on average
- Time spent on Spotlight, rival TikTok, more than tripled, and time spent watching shows increased by more than 55% in 2022 in India
- 2 out of 3 users interact daily with AR; Over 70% of users who download the app interact with augmented reality on their first day on the app
- The number of users with at least 1 friend. The story to display grew 15% year over year.
- Time spent per view in the US for Creator Stories and Spotlight grew by “big” double-digit percentages in the fourth quarter compared to last year
- Snapchatters subscribing to new creators through Spotlight increased by 225% and total daily subscriptions increased by 240%
- Media partners in over 20 countries, 10 languages, including NBC, Disney ESPN Channel, Washington Post, Axel Springer and other news publishers and digital native brands.
- Spotlight reaches over 300 million users per month
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