Snap, Inc published its latest financials yesterday, revealing that its Snapchat app now has 265 million daily active users. That’s up 22% year-on-year – 47 million more DAUs than at the end of 2019.
“On average, Snapchatters opened Snapchat 30 times every day in Q4 2020,” announced Snap as part of a now-customary blizzard of usage stats. “Over 200 million daily active users engage with augmented reality every day on average,” was another big figure – read our recent AR, VR and SR report with the BPI for more on Snapchat’s AR strategy.
Meanwhile, Snap’s new TikTok-style ‘Spotlight’ feature, which gathers the best public posts into a feed and pays their creators, had more than 100 million monthly active users by January.
What does all this mean on the business front? Snap’s revenues grew by an impressive 62.5% year-on-year to $911.3m in Q4, although it’s still a loss-making company: an operating loss of $97.2m and a net loss of $113.1m for the quarter.
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