Snapchat user base remains stable, records $390 M revenue
In Q4 of FY18, Snapchat stood at 186 million daily users. The multimedia messaging application has neither added nor lost any users since the last quarter.
Multimedia messaging platform Snapchat reported $390 million in revenue and its user base remained stable in Q4.
The California-based company, created by former Standford students Evan Spiegel, Bobby Murphy and Reggie Brown, neither lost nor acquired any new users. Snapchat recorded a 36 percent increase in revenue since last year.
According to media reports, Snap, the platform's parent company, recorded a surge in its share price on Tuesday, after narrowing its loss and having a stable number of users still using its platform.
Co-founder and CEO Evan Spiegel, said,
"We ended the year with user engagement stabilising and have started rolling out the new version of our Android application to a small percentage of our community."
Social media users may have got accustomed to Instagram and Facebook stories by now, but Snapchat was the one to first come up with this feature. From the girl-next-door to major celebrities, everyone was using its filters to capture and share every moment of their lives.
From meals to commute, Snapchat served as a medium for all kinds of updates. But Facebook had its way and now users have shifted base to other tables...or apps.
In Q4, Snapchat stayed at 186 million daily users, even after having lost 3 million users in Q2 and another 2 million in Q3. In Q1 last year, the company reported a revenue of $230.7 million - with its lowest growth at only 2.13 percent since its inception in 2011.
According to media reports, Snapchat said that although its user base has changed a bit, it is now connecting more with the youth. It also added that its premium mobile advertisements have reached 70 percent of the 13-34 age group in the US with more people watching its video content.
Snapchat is now working on new kinds of video content as its focus continues to be young smartphone users.