Social

Snapchat announces 750M monthly active users

Comment

A picture taken on October 1, 2019 in Lille shows the logo of mobile app Snapchat displayed on a tablet.
Image Credits: Denis Charlet/AFP (opens in a new window) / Getty Images

At its Investor Day event on Thursday, Snap shared a handful of new metrics about its business and teased its prospects. Notably, it said its social media app Snapchat has now grown to over 750 million monthly active users. While the number falls far short of the roughly 2.96 billion monthly active users Facebook reported earlier this month, it’s ahead of others, including Pinterest, which recently said it reached 450 million monthly users.

It’s unclear, however, where Snap stands against Twitter, which is no longer a publicly traded company following Elon Musk’s acquisition. Plus, Twitter’s public numbers from prior to the deal’s close had used a different metric — Twitter’s own invented metric called mDAUs, or monetizable monthly active users. This was meant to indicate the number of users on Twitter who would actually see its ads, Twitter had said. That number was 237.8 million as of the final public earnings in July 2022, which was smaller than Snapchat’s now 375 million daily users.

TikTok, meanwhile, announced its 1 billion monthly active users milestone in 2021 and was forecast to reach 1.8 billion by year-end 2022.

In addition, Snap shared that of its 750 million monthly active users, 150 million were in North America. The company said it sees a path to reaching over 1 billion people in the next two to three years.

During the event, Snap also teased its newer offerings in terms of products, including its 3D Snap Map and a recently launched feature called Communities. The latter is targeted toward private groups where members can add friends and post to a shared Campus Story. The feature has launched with colleges and high schools and will roll out to more communities in time. So far, there are over 1,400 colleges in the U.S. with access to Communities, Snap said.

It also touted the success of its $3.99/month paid subscription, Snapchat+, which now reaches 2.5 million subscribers — a more exact figure than the 2+ million announced during earnings.

Of course, what investors want to hear is how Snap is managing with regard to the competitive landscape, including the threat from TikTok, how its investments in its ads business will help drive growth, and if it can offer any guidance toward the future. That may come later in the day.

Snap said its primary advertising focus in the near term is direct response (DR) advertising, which represents approximately two-thirds of its business and is growing at a faster rate than its brand-oriented business. Its DR platform was the primary driver of its ad revenue compound annual growth rate of over 50% in the five-year period ending 2021. It spoke about its investments in various adtech and ad formats, including more traditional ones and newer technologies, like AR, and noted it was working to enhance the quality of engagement and conversions. It also said it was working to address the increased cost-per-action that had resulted from its changes.

As part of its efforts, Snap said it would increase the volume of measurable conversions through improved relevance targeting and machine learning optimizations.

It also shared that its TikTok competitor, Spotlight, is attracting less than half its total monthly active users, as 300 million users engage with the feature every month. However, the company pointed out that engagement for this product was still growing. In the fourth quarter, the total time spent watching Spotlight more than doubled from the year prior, and Spotlight submissions were up nearly 20% over the same time frame.

In the first part of the event, Snap also shared a large number of other metrics with investors, including several that were recently announced during earnings:

  • Snap’s community outside North America and Europe grew more than 80% since Q4 2020.
  • 95% YoY increase in daily new users who have three or more friends.
  • Snapchat users who talk to at least three friends over the course of a month retain at over 90% in the following month, on average.
  • Snapchat users share memories with friends 280 million times per day, on average.
  • For the five years after a user’s first year on the service, annualized retention is approximately 90%, on average.
  • U.S. users open Snapchat nearly 40x per day on average; over 60% of users who open Snapchat each day create Snaps.
  • Over 5 billion Snaps are created every day, on average.
  • 88% of users who Snap or chat with a friend will use the app every day for the next seven days.
  • Snapchat’s map is used by over 300 million users per month; Daily map users open the map 6x per day on average.
  • In Q4, total time spent watching Spotlight more than doubled from the year prior, and Spotlight submissions are up nearly 20% over the same time frame.
  • Two out of three users engage with AR daily; over 70% of users who download the app engage with AR during their first day on the app.
  • Number of users with at least one friend Story to view has increased 15% YoY.
  • U.S. time spent per view for both creator Stories and Spotlight grew by “large” double-digit percentages in Q4 compared with last year.
  • Snapchatters subscribing to new creators via Spotlight increased by 225%, and the number of total daily subscriptions increased by 240%.
  • In India, time spent on Spotlight more than tripled, and time spent watching Shows increased by over 55% in 2022.
  • Media partners in over 20 countries, 10 languages, including NBCU, Disney/ESPN, Channel 4 and MBC, sports leagues like the NFL and NBA, digital natives like Team Whistle and Jellysmack, and news brands including The Washington Post, Axios, and Axel Springer.
  • Spotlight reaches over 300 million users per month.
  • Since 2021, more than 250 million users engaged with AR shopping Lenses more than 5 billion times.
  • Snap’s AR creator community of over 300,000+ creators and developers have built over 3 million Lenses.

Developing…

More TechCrunch

London-based fintech Vitesse has closed a $93 million Series C round of funding led by investment giant KKR.

Vitesse, a payments and treasury management platform for insurers, raises $93M to fuel US expansion

Zen Educate, an online marketplace that connects schools with teachers, has raised $37 million in a Series B round of funding. The raise comes amid a growing teacher shortage crisis…

Zen Educate raises $37M and acquires Aquinas Education as it tries to address the teacher shortage

“When I heard the released demo, I was shocked, angered and in disbelief that Mr. Altman would pursue a voice that sounded so eerily similar to mine.”

Scarlett Johansson says that OpenAI approached her to use her voice

A new self-driving truck — manufactured by Volvo and loaded with autonomous vehicle tech developed by Aurora Innovation — could be on public highways as early as this summer.  The…

Aurora and Volvo unveil self-driving truck designed for a driverless future

The European venture capital firm raised its fourth fund as fund as climate tech “comes of age.”

ETF Partners raises €284M for climate startups that will be effective quickly — not 20 years down the road

Copilot, Microsoft’s brand of generative AI, will soon be far more deeply integrated into the Windows 11 experience.

Microsoft wants to make Windows an AI operating system, launches Copilot+ PCs

Hello and welcome back to TechCrunch Space. For those who haven’t heard, the first crewed launch of Boeing’s Starliner capsule has been pushed back yet again to no earlier than…

TechCrunch Space: Star(side)liner

When I attended Automate in Chicago a few weeks back, multiple people thanked me for TechCrunch’s semi-regular robotics job report. It’s always edifying to get that feedback in person. While…

These 81 robotics companies are hiring

The top vehicle safety regulator in the U.S. has launched a formal probe into an April crash involving the all-electric VinFast VF8 SUV that claimed the lives of a family…

VinFast crash that killed family of four now under federal investigation

When putting a video portal in a public park in the middle of New York City, some inappropriate behavior will likely occur. The Portal, the vision of Lithuanian artist and…

NYC-Dublin real-time video portal reopens with some fixes to prevent inappropriate behavior

Longtime New York-based seed investor, Contour Venture Partners, is making progress on its latest flagship fund after lowering its target. The firm closed on $42 million, raised from 64 backers,…

Contour Venture Partners, an early investor in Datadog and Movable Ink, lowers the target for its fifth fund

Meta’s Oversight Board has now extended its scope to include the company’s newest platform, Instagram Threads, and has begun hearing cases from Threads.

Meta’s Oversight Board takes its first Threads case

The company says it’s refocusing and prioritizing fewer initiatives that will have the biggest impact on customers and add value to the business.

SeekOut, a recruiting startup last valued at $1.2 billion, lays off 30% of its workforce

The U.K.’s self-proclaimed “world-leading” regulations for self-driving cars are now official, after the Automated Vehicles (AV) Act received royal assent — the final rubber stamp any legislation must go through…

UK’s autonomous vehicle legislation becomes law, paving the way for first driverless cars by 2026

ChatGPT, OpenAI’s text-generating AI chatbot, has taken the world by storm. What started as a tool to hyper-charge productivity through writing essays and code with short text prompts has evolved…

ChatGPT: Everything you need to know about the AI-powered chatbot

SoLo Funds CEO Travis Holoway: “Regulators seem driven by press releases when they should be motivated by true consumer protection and empowering equitable solutions.”

Fintech lender SoLo Funds is being sued again by the government over its lending practices

Hard tech startups generate a lot of buzz, but there’s a growing cohort of companies building digital tools squarely focused on making hard tech development faster, more efficient and —…

Rollup wants to be the hardware engineer’s workhorse

TechCrunch Disrupt 2024 is not just about groundbreaking innovations, insightful panels, and visionary speakers — it’s also about listening to YOU, the audience, and what you feel is top of…

Disrupt Audience Choice vote closes Friday

Google says the new SDK would help Google expand on its core mission of connecting the right audience to the right content at the right time.

Google is launching a new Android feature to drive users back into their installed apps

Jolla has taken the official wraps off the first version of its personal server-based AI assistant in the making. The reborn startup is building a privacy-focused AI device — aka…

Jolla debuts privacy-focused AI hardware

The ChatGPT mobile app’s net revenue first jumped 22% on the day of the GPT-4o launch and continued to grow in the following days.

ChatGPT’s mobile app revenue saw its biggest spike yet following GPT-4o launch

Dating app maker Bumble has acquired Geneva, an online platform built around forming real-world groups and clubs. The company said that the deal is designed to help it expand its…

Bumble buys community building app Geneva to expand further into friendships

CyberArk — one of the army of larger security companies founded out of Israel — is acquiring Venafi, a specialist in machine identity, for $1.54 billion. 

CyberArk snaps up Venafi for $1.54B to ramp up in machine-to-machine security

Founder-market fit is one of the most crucial factors in a startup’s success, and operators (someone involved in the day-to-day operations of a startup) turned founders have an almost unfair advantage…

OpenseedVC, which backs operators in Africa and Europe starting their companies, reaches first close of $10M fund

A Singapore High Court has effectively approved Pine Labs’ request to shift its operations to India.

Pine Labs gets Singapore court approval to shift base to India

The AI Safety Institute, a U.K. body that aims to assess and address risks in AI platforms, has said it will open a second location in San Francisco. 

UK opens office in San Francisco to tackle AI risk

Companies are always looking for an edge, and searching for ways to encourage their employees to innovate. One way to do that is by running an internal hackathon around a…

Why companies are turning to internal hackathons

Featured Article

I’m rooting for Melinda French Gates to fix tech’s broken ‘brilliant jerk’ culture

Women in tech still face a shocking level of mistreatment at work. Melinda French Gates is one of the few working to change that.

2 days ago
I’m rooting for Melinda French Gates to fix tech’s  broken ‘brilliant jerk’ culture

Blue Origin has successfully completed its NS-25 mission, resuming crewed flights for the first time in nearly two years. The mission brought six tourist crew members to the edge of…

Blue Origin successfully launches its first crewed mission since 2022

Creative Artists Agency (CAA), one of the top entertainment and sports talent agencies, is hoping to be at the forefront of AI protection services for celebrities in Hollywood. With many…

Hollywood agency CAA aims to help stars manage their own AI likenesses