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Snapchat Revenue and Usage Statistics (2023)

Snapchat Statistics: Increasing Revenue and Usage (2023)

Key Snapchat Statistics

  • More than 375 million people across the world use Snapchat each day
  • In 2022, Snapchat made $4.6 billion, up 12 percent from the previous year
  • An impressive 36 percent of Snapchat’s user base is based in India
  • Snapchat claims that the average user of the app spends 30 minutes using it
  • It is predicted that by the end of 2023, Snapchat will have 525.7 million users all over the world
  • Globally, Snapchatters control an astounding $4.4 trillion in purchasing power

Snapchat was initially a multimedia instant messaging app for person-to-person photo sharing. It is one of the world’s most used social media platforms, with millions of daily active users.

As an American social media app created in 2011 by some of Stanford University’s former students, the number of Snapchat users has increased, putting it in intense competition with other popular social media platforms. 

Snapchat allows people to capture memories,  send messages, explore various talents, and share them with their close ones and other social media users. As a popular social media platform, Snapchat has evolved.

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The app has witnessed enormous growth from snap sharing to brand promotions through means like Snapchat ads, among other methods.

In this piece, we’ll review Snapchat’s revenue and usage statistics to gain insight into the app’s data. Therefore, if you’re curious about Snapchat user statistics and revenue, this article contains what you’re looking for. Let’s proceed.

Snapchat Revenue and Usage Statistics (2023)

General Snapchat Revenue Statistics

Snapchat derives its revenue by running advertisements and selling hardware such as spectacles and camera kits.

  • The company experienced an increase in revenue in 2021 by 64%, making 4.1 billion dollars.
  • In the Q4 of 2021 and 2022, the app made 1.3 billion dollars as revenue.
  • The company has also experienced some losses. In the first and second quarters of 2017, Snapchat lost 2,209 and 443 million dollars, respectively. However, these losses are nothing compared to the profits they have acquired in recent times.
  • In the Q4 of 2021, the company recorded its first quarterly profit, and its revenue improved by 12% in 2022, making 4.6 billion dollars in total.

Snapchat Revenue Based on Advertisement

The app’s marketing is one primary way through which Snapchat generates revenue. Although Snapchat usage was primarily for memories creation and photo sharing, it found use as a means of marketing through brand influencing, music promotion, and lots more.

The majority of Snapchat’s revenue is from paid advertisements. The social media app has been generating an ever-increasing revenue from running ads.

  • Between 2017 and 2020, Snapchat ads revenue increased by 1.68 billion dollars. In 2021, the app made an estimated 3.07 billion dollars as advertising revenue through Snapchat ads.
  • As of July 2022, the potential number of users that marketers could reach through Snapchat ads increased by about 4.7% within three months.
  • By 2026, it’s projected that Snapchat’s advertising revenue will hit 5.87 billion dollars.
  • Presently, Snapchat’s ads audience has increased by about 20% over the past months.

Usage Statistics

  • The latest Snapchat statistics recorded show that there are over 319 million daily active Snapchat users worldwide. And this is a significant increase compared to the third quarter of 2021, which recorded 306 million users.
  • The app has steadily been recording an increase since its creation, with over 540 million monthly active users. 
  • In 2019 the Snapchat application saw a double increase in download rates. By May 2019, the app had 41.5 million downloads.
  • In 2022, the Snapchat app ranked 5th amongst the most downloaded apps, having been downloaded by 330 million internet users worldwide.
  • The app has Over 5 billion snaps daily, and an average daily active user opens the app 30 times a day. Daily active Snapchat users stay for over 30 minutes on the app.
  • Also, most users usually have more than one social media account. People often use the app along with other popular social media platforms such as Instagram, Facebook, YouTube, and WhatsApp.
  • Furthermore, in the Q1 of 2021, reports showed that most of Snapchat’s users were using the Android version of the Snapchat platform. 

Snapchat Demographic Statistics

  • Based on country, Indians are the largest Snapchat user base, with 144.35 million users. Then the US with 107.9 million users, and France with 24.7 million users. 
  • North America has the largest Snapchat audience, with 92 million internet users who use Snapchat daily. That makes it very useful to any brand looking to create awareness in that region.
  • Europe also has one of the largest audiences, with about 78 million users. Countries with the least number of Snapchat users include; Columbia (6.35 million), Netherlands (6.55 million), Algeria (6.65 million), Russia (7.15 million), Australia (7.35 million), and Brazil (7.6 million).
  • The Gen Z age group makes up most of Snapchat demographics right from its onset.
  • Persons within the age range of 18 – 24 constitute 39% of Snapchat’s users. In the United States, Gen Z users make up 48% of Snapchat. The age group 26-35 makes up 30% of users, while ages 36-45 constitute 18%, and the age group 46-55 takes up 11% of the Snapchat platform. 
  • Also, Snapchat comprises 52.9% females and 47.1% males making female users the most dominant Snapchat audience. 

Snapchat for Business Statistics

The social media app has been very efficient in digital marketing. The Snapchat Generation Global Report reveals that its users hold 4.4 trillion dollars of global spending power. After purchase, snap users are likely to post what they got, which serves as a means of brand awareness and promotion.

Snapchat Revenue and Usage Statistics (2023)

Filter Statistics Amongst Snapchat Users Worldwide

The filter feature is one of the exciting things about Snapchat. These filters can change your looks, distort your face, and even put teddy bear outfits on you.

  • Augmented reality has been a point of attraction for Snapchat users. As a result, the stats report over 250 million Snapchat users engage with augmented reality regularly.
  • Reports from verified sources also claimed that 43.7 million internet users in the United States used augmented reality at least once every month. 

Frequently Asked Questions

1. Does everyone get the same content in Snapchat Discover?

No. Snapchat uses the details provided by users to tailor the content on the Discover page to meet individual preferences rather than everyone else’s. People have different interests, so Snapchat Discover contents vary from person to person.

2. How many people use Snapchat in Africa?

In 2022, Snapchat recorded over 40 million users in Africa. Northern Africa, with the highest number of Snapchat users, has 29.2 million users, followed by Western Africa, which has 10.9 million users, and then Southern and Eastern Africa, with 5.7 and 2.1 million users, respectively.

3. How much does Snapchat charge for geofilters?

Snapchat, in accordance with its developers, has created over 3 million filters or Snapchat lenses. However, the app has allowed users to invent personalized geofilters for a fee of 10 to 15 dollars per hour. Also, it has annual subscription plans ranging from 1,000 to 10,000 US dollars per year for long-lasting filters.

4. Is Snapchat a good social media platform to run ads?

Although more popular social platforms like Facebook and Instagram may see more users each month than Snapchat, it can still be an excellent place to run ads – especially if your target audience is Gen Z. Also, it can be pretty effective if a brand partners with major influencers who can showcase their products to a broader range of Snapchat audiences.

Final Thoughts

Having gone over these Snapchat stats, it is undeniable that the Snapchat app is a very beneficial one and one of the most popular social media apps worldwide. 

From regular daily active users to brand owners, everyone has something to benefit from this app. Specifically, brand owners whose target audience is the younger generation, i.e., persons below 35, can benefit greatly from this app daily. 

With these impressive Snapchat statistics, it’s not an overstatement to say that Snapchat is constantly getting bigger and better features are yet to unfold.

One can do a lot on Snapchat. Users can message each other, create memories, have fun, do business, create video ads, and enjoy a fantastic social media experience. Thus, Snapchat is a one size fits all platform.

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