Snapchat has more engagement than Facebook and Twitter
Social media platform Snapchat is growing faster than Facebook and Twitter, with the latest quarterly report showing that the platform increased its daily active users (DAU) by 18% to 332 million (year-on-year).
Facebook (now Meta) reported its first loss in DAU last quarter, but Twitter’s monetizable DAU increased by just 2% in the US and 15% worldwide.
Snap, Snapchat’s parent company, increased sales for the quarter ended March 31, 2022, to $ 1.06 billion, up 38% year-on-year. This issaid by the CEO Evan Spiegel.
“We continue to focus on creating value for our growing community, providing ROI to our advertising partners and investing in augmented reality for our tremendous opportunities,” he said Thursday. Said in a late statement.
The company reported a growth of 44% from the first quarter of 2021. However, Russia’s invasion of Ukraine has hurt its advertising revenue.
“We believe the impact of the war in Ukraine on input costs, marketing budgets and overall performance is significant and it is difficult to predict future impacts,” said Snap’s Chief Financial Officer. Responsible Derek Andersen said. , During a revenue call.
According to the company, an average of more than 250 million Snapchatters are working on augmented reality (AR) every day.
“Snapchatters spend more than 25% year-on-year increase in total daily time spent engaging in programming and publisher content over the age of 25,” he added.
Compared to the first quarter of 2021, the number of Spotlight senders using creative tools or lenses increased by 350%, the company said. Snap today announced its first-quarter 2022 financial results, confirming that it is growing faster than its US-based rivals Facebook (now Meta) and Twitter.
Meta reported the first loss of active users per day (DAU) in the previous quarter, but Twitter’s monetizable DAU increased by 2% in the US and 15% abroad.
Snapchat’s parent company, Snap, has increased its DAU by 18% year-on-year to 332 million, but in the last five quarters, user growth has exceeded 20%. But Snap is more concerned about earnings, despite a 38% year-on-year increase of $ 1.06 billion.
The company said it is on track to achieve 44% growth from the first quarter of 2021, but many advertisers suspended the campaign after Russia invaded Ukraine on February 24. Said it was stopped.
Snap CFO Derek Andersen said most advertisers resumed the campaign within 10 days, but the suspension still harmed the company’s quarterly revenue.
“We believe the war in Ukraine is having a significant impact on input costs, marketing budgets and the overall economic level, and it is difficult to predict the future impact,” Andersen said. He talked about the announcement.
Snap also failed to meet its revenue target for the third quarter of 2021 due to significant changes in Apple’s iOS privacy.
After iOS users were offered the option to opt out of out-of-app tracking, most users chose to stop sharing personal information with their apps, impacting Snapchat and Facebook’s advertising business. rice field.
The company said it expects Apple to continue to use this curve for advertising revenue. As for the product itself, Snap relies heavily on augmented reality experiences (such as Niantic).
According to the company, 250 million Snapchat users have AR capabilities every day, representing a significant portion of the 332 million DAUs. This quarter, Snap rolled out an upgrade to AR shopping and community-created AR experiences for local attractions.
Snap is hosting the annual SnapPartner Summit next week, and according to CEO Evan Spiegel, the company will announce several new products and services at the event.
Social media platform Snapchat is growing faster than Facebook and Twitter, with the latest quarterly report showing that the platform increased its daily active users (DAU) by 18% to 332 million (year-on-year).
I am saying. Facebook (now Meta) reported its first loss in DAU last quarter, but Twitter’s monetizable DAU increased by just 2% in the US and 15% worldwide.
Snap, the parent company of Snapchat, increased its revenues for the quarter ended March 31, 2022, by 38% year-on-year to $ 1.06 billion. “Our first-quarter results reflect the underlying momentum of our business in difficult business environments,” said CEO Evan Spiegel.
\”We continue to focus on providing value to growing communities, providing ROI to our advertising partners, and investing in augmented reality for our tremendous opportunities,” he said late Thursday. Said the whole thing in a statement.
The company announced that it will record 44% growth from the first quarter of 2021. However, Russia’s invasion of Ukraine has hurt its advertising revenue. Snap CFO Derek Andersen said in a conference call that “the war in Ukraine has a significant impact on investment costs, marketing budgets and overall economic literacy, and it is difficult to predict the impact in the future. I have.
” According to the company, an average of over 250 million Snapchatter interacts with augmented reality (AR) each day. “The total daily time spent by Snapchatters 25 and above on shows and publisher content has increased by more than 25% year-on-year,” he added.
Compared to the first quarter of 2021, the number of Spotlight senders using creative tools or lenses increased by 350%, the company said. Snapchat’s parent company, Snap Inc,’s bet on augmented reality seems to be paying off. CEO Evan Spiegel said on April 21 that more than 250 million Snapchat users are using augmented reality (AR) capabilities daily for a variety of use cases, including entertainment, fashion and education said.
In the first quarter of 2022, Snapchat’s parent company, Snap Inc, reported that its daily active user base was 332 million, an increase of 18% over the previous year. It is said that more than 250,000 developers have manufactured more than 2.5 million lenses. Users can add special AR effects to their photos, videos, or live streams, and Snapchat users used these lenses more than twice in the first quarter of 2022 compared to the first quarter of 2021.
Over the last few months, Snap Inc has rolled out new features to help developers create location-based lenses for local locations, along with upgrading their AR shopping experience. In March 2022, the company also acquired Paris-based neurotech company NextMind to step up its AR research efforts. Spiegel said he has launched a new AR creation program in India using LensStudio software to “educate the community about the power of AR”. The program includes an online developer course and a set of challenges aimed at empowering developers and local developers across the country.
He also said there is increasing demand from companies to integrate AR functionality into websites and applications via camera kits. “Lens Studio’s developer tools and distribution via Snapchat, Camera Kit, and Spectacles enable developers to create and share augmented reality experiences and explore next-generation computing with hundreds of millions of people. Created, “said Spiegel. In India, Snap Inc has partnered with companies such as Flipkart, Sharechat’s Moj, Sugar Cosmetics and MyGlamm to support AR capabilities.
Jeremi Gorman, CEO of Snap Inc, said in a phone call that hiring AR advertisers is still in its infancy, but they’re on track and it’s time for “advertising costs to continue.” Is the problem. It still takes time, effort and effort. “
“AR’s top priority is to reduce barriers to innovation and help brands understand the importance of the AR experience and the value it can deliver and the Virtual Tryon is a way to shop in the community and experience new products. We believe this is a great opportunity to improve, “Gorman said. She found that about 70% of
AR revenue comes from self-service advertising platforms. She also said she would continue to invest heavily in building tools to make this easier for brands. This includes facilitating the creation of AR, managing AR, delivering AR experiences, and giving them permanent goals such as “making the public profile of these AR experiences evergreen.”
Success Story in India
In a conference call, Der Spiegel reiterated that India is a great success story for them. He previously said that what he learned from Snap Inc’s expansion efforts in India has helped the company expand its foundation in new markets. In October 2021, Snap Inc announced that it had reached the milestone of 100 million monthly active Snapchat users in the country. “We’ve invested significantly in localizing the Snapchat experience for the Indian community. We have added culturally relevant content and developed a very active and creative local community. Invested in regional products, marketing initiatives and language support, “Spiegel said in October 2021.
Spotlight advertising
Snap Inc has begun testing ads with the limited but short video feature Spotlight, Spiegel said on the phone. In February, Snap Inc announced plans to introduce mid-roll ads into stories, a key feature for celebrity creators and celebrities that the company calls SnapStars. These creators receive a portion of the advertising revenue generated from public stories.
Spiegel says he’s noticed that creators are posting videos to Spotlight to get more distribution and more ad-supported story subscribers. “We are excited about Spotlight’s momentum and growth, and all the incredible original content created by our community. So we will continue to invest in it and of course, I think it will be a great place for advertisers, so we will test ads in Spotlight, “he said, and Spotlight’s full-screen vertical ad format has already reached advertisers around the world. The world that said it was widely adopted.
Challenging quarter
Overall, Der Spiegel said the first quarter of 2022 was “more difficult than expected.” Total revenue for the quarter was $ 1.06 billion, up 38% year-on-year, while net loss was $ 360 million, up from $ 287 million in the previous year.
Snapchat Chief Financial Officer Derek Andersen said in a statement in the company’s earnings announcement that it was initially on track to achieve 44% growth in the first quarter of 2022 but in February. Many advertisers have said they have suspended the campaign after Russia invaded Ukraine. twenty-four. However, the majority of them resumed the campaign within 10 days of the invasion.
The company estimates current second-quarter sales growth of 20-25%. Andersen said the impact of the war in Ukraine on input costs, marketing budgets, and their overall economic credibility is significant and it is difficult to predict the impact based on prospects.
“We are concerned that the future operating environment will be even more difficult, which could lead to suspension of campaigns and reductions in advertising budgets,” he said in his earnings announcement.
edited and proofread by nikita sharma
