Snap Inc. has finally reported its Q1 2019 results, which are quite impressive, considering the fact that it was facing tough competition from Facebook, Instagram and TikTok.
Snapchat’s daily user count has once again crossed the 190 million mark, after a slightly disappointing performance in the last quarter. The credit (to some extent) for increase in number of users should be given to the new and much faster Android experience, which was introduced by Snapchat a few weeks ago. It’s surprising how a company like Snap Inc. didn’t realize the potential in Android market, especially outside North America, until now.
Interestingly, 90% of the Indian market uses Android and thanks for the update, Indian users will now be able to get the full Snap experience, which will definitely have a huge impact in the next quarter.
Coming back to the stats again, Snapchat is now used by 90% of people aged between 13-24 years and 75% of all 13-34 year olds in USA. The immense popularity of the app among youth can’t seem to get edged out anytime soon. However, the huge appeal of Snapchat among young users hasn’t benefited the company as much as expected in terms of generating revenue so there’s still room for improvement.
Speaking about the total revenue generated in this Quarter, it’s a 39% increase from last year (or $320 million).
However, the company needs to realize that it can’t thrive in this competitive world by not taking into account the interest of foreign markets (outside USA). Facebook, via Instagram Stories, has taken advantage of this fact and has left Snapchat behind in many of the regions outside USA.
However, the expansion will result in hiked prices due to which Snap can suffer significant losses in the next quarter.
On the bright side, Snap has done a remarkable job with its Discover content, which now offers over 450 premium content channels across the globe. Additionally, the number of non-US partners has been doubled, due to which 50 new shows have been launched.
Moreover, Snap also brought up how its users are spending over 250 million minutes toying with AR experiences on a daily basis in the Snapchat camera. This is an area which Snap can explore more and make more convenient for users, given its huge popularity.
Thus, Snap does have a lot of competitors but as long as it focuses on solidifying its strong points and expansion, it has the potential to do wonders.
Read next: Snapchat to Offer Ad and Stories Kit for Other Apps
Snapchat’s daily user count has once again crossed the 190 million mark, after a slightly disappointing performance in the last quarter. The credit (to some extent) for increase in number of users should be given to the new and much faster Android experience, which was introduced by Snapchat a few weeks ago. It’s surprising how a company like Snap Inc. didn’t realize the potential in Android market, especially outside North America, until now.
Interestingly, 90% of the Indian market uses Android and thanks for the update, Indian users will now be able to get the full Snap experience, which will definitely have a huge impact in the next quarter.
Coming back to the stats again, Snapchat is now used by 90% of people aged between 13-24 years and 75% of all 13-34 year olds in USA. The immense popularity of the app among youth can’t seem to get edged out anytime soon. However, the huge appeal of Snapchat among young users hasn’t benefited the company as much as expected in terms of generating revenue so there’s still room for improvement.
Speaking about the total revenue generated in this Quarter, it’s a 39% increase from last year (or $320 million).
However, the company needs to realize that it can’t thrive in this competitive world by not taking into account the interest of foreign markets (outside USA). Facebook, via Instagram Stories, has taken advantage of this fact and has left Snapchat behind in many of the regions outside USA.
However, the expansion will result in hiked prices due to which Snap can suffer significant losses in the next quarter.
On the bright side, Snap has done a remarkable job with its Discover content, which now offers over 450 premium content channels across the globe. Additionally, the number of non-US partners has been doubled, due to which 50 new shows have been launched.
Moreover, Snap also brought up how its users are spending over 250 million minutes toying with AR experiences on a daily basis in the Snapchat camera. This is an area which Snap can explore more and make more convenient for users, given its huge popularity.
Thus, Snap does have a lot of competitors but as long as it focuses on solidifying its strong points and expansion, it has the potential to do wonders.
Read next: Snapchat to Offer Ad and Stories Kit for Other Apps
