Syed Imran Haider 
Snapchat says it has reached the milestone of 750 million active users per month. At the Investor Day event, the social media platform announced several new metrics about its business and anticipated its projections.
According to Snapchat, it has expanded its user base to over 750 active users per month. Although the number is shorter than 2.96 billion Facebook active users, it still has more members than other social media apps like Pinterest, which expanded by 450 million active monthly users.
However, information is vague about Snapchat’s status against Twitter, which has modified its face from a publicly traded company after Elon Musk acquired the company. Also, Twitter would use a diverse metric for its public numbers before the deal.
TikTok also announced its expansion by 1 billion monthly active users in 2021. It anticipates reaching 1.8 billion users by December 2022.
Snap revealed that among its 750 million active users, 150 million are in North America. The company sees a specific route to reach over one billion individuals in the years ahead. During its Investor Day event, Snap teased newer offerings and products, such as 3D and Communities – a recently unveiled feature. Communities aim to cater to private groups wherein users can add new friends and share Campus Stories.
The new feature has benefited coworkers and organizations. The company will roll out Communities to more communities in the same line. Snap says over 1,400 colleges in the United States have access to Communities. It touted the accomplishment of $3.99 paid monthly subscriptions – known as Snapchat+. The subscription has recently reached 2.5 million subscribers.
Competitive LandscapeÂ
Research reveals how Snap manages the competitive landscape, comprising the growing threat from TikTok and how it invests in its advertisement business will be handy in driving growth.
Snap focuses on its primary advertising in Direct Response (DR). The new advertisement type signifies two-thirds of Snap’s business, which is increasing at a faster rate. Snap’s DR platform primarily drives ad revenue with an annual growth rate of more than fifty percent in five years before 2022.
Snap has spoken about its investment in numerous ad-tech advertisement formats such as AR or other traditional and newer technologies. The company also worked to address the expanded cost-per-action that resulted from its modifications. Snap would increase the volume of measurable conversions via enhanced relevance targeting and ML optimizations.
Spotlight – the TikTok competitor, attracts less than half its monthly active users since 300 million users benefit from it. While the social media platform highlighted the total time spent engaging with Spotlight more than doubled from 2022. Spotlight submissions reached almost twenty percent over a similar time frame.
At the Investor Day event, Snap revealed other metrics with investors, including those the company announced throughout the revenue period. Its members expanded more than 80 percent outside Europe and North America since Q4 2020. Averagely, Snapchat users with three friends’ conversations over a month sustain at over 90 percent in the next month. Users share memories with their friends on Snap 280 million times every day.
