At Thursday’s Investor Day event, Snap shared some new business metrics and hinted at its outlook. In particular, the company’s social media app, his Snapchat, now says it has grown to over 750 million monthly active users. That number falls well short of the roughly 2.96 billion monthly active users Facebook reported earlier this month, but includes Pinterest, which recently announced that it had reached 450 million monthly users. Better than others.
But it’s unclear where Snap will go against Twitter, which is no longer a publicly traded company following its Elon Musk acquisition. Additionally, his public Twitter numbers before the deal closed used a different metric — Twitter’s own metric called mDAUs, or monetizable monthly active users. Twitter said this was meant to show how many Twitter users actually see the ad. That number was 237.8 million at the time of final public earnings in July 2022, less than his current 375 million daily users on Snapchat.
Meanwhile, TikTok announced a milestone of 1 billion monthly active users in 2021 and was projected to reach 1.8 billion by the end of 2022.
Additionally, Snap shared that of its 750 million monthly active users, 150 million are in North America.
During the event, Snap also showcased new product offerings such as the 3D Snap Map and a recently released feature called Communities. The latter is intended for closed groups where members can add friends and contribute to shared campus stories. This feature has been launched in colleges and high schools and will be rolled out to more communities in the future. So far, there are more than 1,400 universities in the US with access to the community, the company said.
It also touted the success of Snapchat+, a paid subscription for $3.99 per month. It has now reached 2.5 million subscribers.
Of course, investors want to hear how Snap is managing the competitive landscape, including the TikTok threat, how investing in its advertising business can help drive growth, and what the future holds. can provide some guidance. That may come at a later date.
So far, Snap’s TikTok competitor, Spotlight, has been found to have less than half its monthly active users, with 300 million monthly users using the feature.
During the first part of the event, Snap also shared a number of other metrics with investors.
These include:
- Snap’s community outside of North America and Europe has grown over 80% since Q4 2020
- 95% YoY increase in daily new users with 3 or more friends
- Snapchatters who talk to at least 3 friends in a month stay above 90% on average the next month
- Snapchatters share memories with their friends an average of 280 million times a day
- The annualized retention rate averages about 90% for the first five years after a user starts using the service.
- US users open Snapchat nearly 40 times a day on average.Over 60% of the users who open Snapchat daily create Snaps of him
- Over 5 billion snaps are created on average every day
- 88% of users who snap or chat with friends will use the app every day for the next 7 days
- Snapchat maps are used by over 300 million people per month.Daily map users open maps an average of 6 times per day
- In Q4, total hours spent watching Spotlights more than doubled over the previous year, with Spotlight submissions up almost 20% over the same timeframe
- 2 out of 3 users use AR every day.Over 70% of users who downloaded the app engaged with AR on the first day of using the app
- Users with at least 1 friend Readable stories increased 15% YoY
- Time spent in the U.S. per view for both Creator Stories and Spotlights increased “significantly” by double-digit percentages in Q4 compared to last year
- 225% more Snapchat users subscribing to new creators via Spotlight, and 240% more total daily subscriptions
- Media partners in over 20 countries including NBCU, Disney/ESPN, Channel 4 and MBC; sports leagues like the NFL and NBA; digital natives like Team Whistle and Jellysmack; news brands like The Washington Post, Axios and Axel Springer.
- Spotlight reaches over 300 million users per month
developing…
