The company behind Snapchat continues to grow in revenue with an increase of 13 million active users daily.
Snap reported a 48% year-over-year increase in revenue for the second quarter of this year. For the first half, they’ve already reached $388 million in revenue. With the revenue and number of users worldwide, Snap boasts a total of 203 million Daily Active Users.
Passing the 200 million mark
Out of the 203 million active users of Snapchat, 83 million of those users are located in the U.S. Snapchat reported that the surge of new users of about 7 to 9 million is accounted to its new AR Lens feature. CFO Derek Andersen said that the new AR Lens brought in re-engaged lapsed users and new users as well.
This is great news for Snap after having some difficulty in 2018. In a statement released by CEO Evan Spiegel, he said that the company has been preparing to accommodate a large number of audiences. They created an effective and engaging mobile ad units, and then shifted their focus to a self-serve monetization platform.
As of now, they are working on scaling the user demand and in helping brands and advertisers of all types to generate returns in their ad spend.
Snap and Android now better
Snapchat and Android ran some bad patch when they rolled out a redesign that resulted in a loss of revenue in the last quarter of 2017. This loss also affected many Android users. However, the company is now seeing improvements in the majority of its Android users compared to the users of the previous Android app.
What does this mean?
Siegel reported that 75% of the population with ages 13 to 34 years old is now active on Snapchat. This makes Snapchat even larger than Facebook and Instagram when it comes to this age demographic. Snap also reported a 90% reach among 13 to 24 year old in their second-quarter report. Both numbers show a massive reach for advertisers.
Aside from that, Snapchat is constantly redesigning the app and constantly innovating. Right now, it is delivering more video content and is gearing to a more ad-friendly platform.