Snapchat Adds 12 Million Users in Q4, But Company Misses Revenue Mark
Snapchat added 12 million more active users during Q4 of 2022, while their Snapchat+ subscription offerings continue to see
Snapchat added 12 million more active users during Q4 of 2022, while their Snapchat+ subscription offerings continue to see a marked increase in customers, however the company revenue landed below market estimates.
It delivered another mixed bag of results for the social platform.
Snapchat took in an additional 12 million users, which brought to platform to 375 million daily active users, but North American user growth remains flat while there was a slight boost in European users.
The “rest of the world” is what is driving the growth of members, which is being fueled by India.
The following chart outlines that Snapchat’s revenue has increased, with the company seemingly still reliant on the United States and Canada for the majority of that spend.
The company stated: “In Q4, our subscription service Snapchat+ reached over 2.0 million paying subscribers. Snapchat+ offers exclusive, experimental, and pre-release features, and in Q4 we launched new features such as Custom Story Expiration and Custom Notification Sounds, providing subscribers with over 12 exclusive features.”
“We continue to face significant headwinds as we look to accelerate revenue growth, and we are making progress driving improved return on investment for advertisers and innovating to deepen the engagement of our community.”
Snapchat has also faced challenges in rebuilding its ad business, and will have to address that, and a number of other variable to turn the tide in 2023.