Snapchat has gone public with its reports from Q4 of 2022 and according to that, there are nearly 12 million more active users.
At the same time, the company mentioned a general growth in Snapchat+ subscriptions. Meanwhile, the firm did not achieve the stats outlined by market estimates in what is being described as a mixed set of results for those making use of the social media platform.
For starters, the company celebrated the growth of 12 million more active users which took figures up to 375 million daily active users. While the user growth in regions such as North America was flat, it’s the European market that really struck out in terms of growth. However, the real growth came from places highlighted as the rest of the world and in particular, emphasis was placed on the likes of India which is responsible for the continuous growth across the board.
The country is boosting the total figures for usage and even allowing for an expansion of opportunities. But in terms of revenue generation, not a lot is being done or changed in terms of major breakthroughs, the firm adds.
The revenue figures did increase but seeing the platform still rely on the likes of the American and Canadian markets for most of its spending means other markets aren’t up to pace in terms of revenue. Another interesting point worth a mention is how the company’s Revenue Per User did fall YoY so while the growth is there, the figures aren’t rising at an equivalent pace. In fact, you’ll see some things moving in a backward direction too.
This is why the thought of stagnant growth has turned into a major problem for the company. On a more positive note, the company did note down happily how its Snapchat+ subscriptions were on the rise.
The results for Q4 showed how the subscriptions for this service gained around 2 million subscribers who were more than happy to pay. In case you didn’t know, this feature provides its paid users with plenty of unique offerings like some exclusive and a few experimental aspects. There are some new features up for grabs too like customized notification sounds, story expiration, and also 12 exclusive features.
This is pretty handy and another added revenue stream worth considering. But keeping in mind the way subscriptions for others apps have gone about like Twitter’s Blue subscription, many people just aren’t too keen on paying extra to use platforms. And that makes sense, after looking at the current economic downturn around the globe.
On another front, we’ve seen Snap face plenty of other challenges like building up its advertising business after the mighty iOS 14 update from Apple. This has intensely affected the likes of data collection and the platform’s CEO Evan Spiegel says there is a lot more work required on this front.
The company mentioned how it continues to see a lot of improvement in terms of commerce integrations and that entails some digital offerings like its unique Bitmoji avatars. The social media giant hopes to use translate this into sales that enter the real world. It has similarly allowed for more than 161 million trials of various products by around 35 million users for businesses like Walmart. This would leverage its Catalogue Powered Shopping Lenses.
There is a lot of work being done as we speak and the opportunities up for grabs are plenty. Hence, we can firmly say that the future for Snap appears brighter than ever and with such great quarterly results, it’s just the boost they needed to carry forward in the next year.
Read next: Breaking Points: The Top 12 Ways We Damage Our Phones According To A New Survey
At the same time, the company mentioned a general growth in Snapchat+ subscriptions. Meanwhile, the firm did not achieve the stats outlined by market estimates in what is being described as a mixed set of results for those making use of the social media platform.
For starters, the company celebrated the growth of 12 million more active users which took figures up to 375 million daily active users. While the user growth in regions such as North America was flat, it’s the European market that really struck out in terms of growth. However, the real growth came from places highlighted as the rest of the world and in particular, emphasis was placed on the likes of India which is responsible for the continuous growth across the board.
The country is boosting the total figures for usage and even allowing for an expansion of opportunities. But in terms of revenue generation, not a lot is being done or changed in terms of major breakthroughs, the firm adds.
The revenue figures did increase but seeing the platform still rely on the likes of the American and Canadian markets for most of its spending means other markets aren’t up to pace in terms of revenue. Another interesting point worth a mention is how the company’s Revenue Per User did fall YoY so while the growth is there, the figures aren’t rising at an equivalent pace. In fact, you’ll see some things moving in a backward direction too.
This is why the thought of stagnant growth has turned into a major problem for the company. On a more positive note, the company did note down happily how its Snapchat+ subscriptions were on the rise.
The results for Q4 showed how the subscriptions for this service gained around 2 million subscribers who were more than happy to pay. In case you didn’t know, this feature provides its paid users with plenty of unique offerings like some exclusive and a few experimental aspects. There are some new features up for grabs too like customized notification sounds, story expiration, and also 12 exclusive features.
This is pretty handy and another added revenue stream worth considering. But keeping in mind the way subscriptions for others apps have gone about like Twitter’s Blue subscription, many people just aren’t too keen on paying extra to use platforms. And that makes sense, after looking at the current economic downturn around the globe.
On another front, we’ve seen Snap face plenty of other challenges like building up its advertising business after the mighty iOS 14 update from Apple. This has intensely affected the likes of data collection and the platform’s CEO Evan Spiegel says there is a lot more work required on this front.
The company mentioned how it continues to see a lot of improvement in terms of commerce integrations and that entails some digital offerings like its unique Bitmoji avatars. The social media giant hopes to use translate this into sales that enter the real world. It has similarly allowed for more than 161 million trials of various products by around 35 million users for businesses like Walmart. This would leverage its Catalogue Powered Shopping Lenses.
There is a lot of work being done as we speak and the opportunities up for grabs are plenty. Hence, we can firmly say that the future for Snap appears brighter than ever and with such great quarterly results, it’s just the boost they needed to carry forward in the next year.
Read next: Breaking Points: The Top 12 Ways We Damage Our Phones According To A New Survey
