Snapchat hits 265M daily active users, India growth market

This picture has been used for representational purposes

Despite the cut-throat competition coming from the Facebook family of apps, Snapchat has added 16 million daily active users in the fourth quarter of 2020 to reach 265 million users -- up 22 per cent year-over-year -- and India has once again proved to be its high-growth market.

OnePlus India created Lenses for Diwali as a means to bring people together safely during a pandemic. "Their Lenses garnered over 80 million impressions and reached over 14 million Snapchatters in India. Overall, the campaign was highly successful and drove a 9 point lift in both ad awareness and a 7 point lift in message awareness," said Snap CEO Spiegel.

Snapchat Camera is helping create an average of over 5 billion Snaps every single day. The Snapchat generation, primarily Gen Z and millennials, are 150 per cent more likely to communicate with pictures than words and 82 per cent of them believe they have a personal responsibility to change the world," Spiegel said on a call with investors late on Thursday.

Spiegel said that the company has evolved Stories over time to embrace new formats like Shows with total time spent watching Shows increasing nearly 70 per cent year-over-year in 2020.

"Each month, over 250 million Snapchatters open our Map where they can find the people and places that mean the most to them. There are now more than 35 million businesses on the Map for our community to discover, and connecting local businesses," he informed.

Today, more than 200 million people engage with AR on Snapchat every day on average. Looking forward, "we plan to accelerate our full-year revenue growth beyond the 46 per cent year-over-year growth achieved in 2020, and grow our community around the world by improving and localizing the Snapchat product experience".

Snap reported revenue of $2.5 billion for 2020, growing 46 per cent year-over-year. "In Q4 2020, we generated revenue of $911 million, a significant acceleration of 18 percentage points to 62 per cent year-over-year growth," the company said. Snap said that the reach among 13 to 34-year-olds in many of its established markets continues to grow.

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