Snapchat maker Snap recorded its first ever quarterly net profit in the final quarter of 2021: a profit of $22.6m compared to a loss of $113.1m in Q4 2020. This was helped by an impressive 42% increase in revenues (to $1.3bn) and growth in users.
Snapchat ended 2021 with 319 million daily active users, up 20% year-on-year. It feels like a long time now since the days when Snapchat’s user growth felt like it was plateauing.
Snap also said something interesting about its ‘Discover’ feature – the section of the app that focuses on snaps from media partners and professional influencers. “In Q4 2021, 25 different Discover partners each reached over 50 million unique Snapchatters globally, including Universal Music’s Rebel Labs, social publisher Jungle Creations’ lifestyle content, and Team Whistle’s sports content.”
A good sign for Rebel Labs, which sits inside UMG creating original shows and content for social apps, from Glass Animals eating weird breakfast cereals with guests, to artists being reimagined as cartoons, giant 3D paintings and customised trainers.
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Tools :: We Are Giant
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