Snap is heading in the right direction again. The company revealed in its earnings release today that its daily user base has grown by 4 million people worldwide. It now has 190 million daily active users, up from 186 million people who had been using the platform consistently for the past two quarters. This updated number is still 1 million fewer than Snapchat’s maximum user base since it went public in 2017, but this is good news for Snap.
Snapchat CEO Evan Spiegel said in prepared comments that the platform reaches more than 13 to 34 years in the US than Instagram, but did not elaborate on why or how its user base suddenly grew. He says Snapchat reaches 75 percent of those 13 to 34 and 90 percent of 13 to 24.
Android launch resulted in more Snaps sent
Snap had a great quarter that involved not only major product updates, but also the long-awaited launch of its rebuilt Android Snapchat app. The Android app has no changes to the user interface or navigation, but it is designed to be faster and with fewer bugs. It’s been in the works for years and most of the previous revenue calls were talked about. Spiegel says that within the first week of updating the app, there was a 6 percent increase in the number of people submitting Snaps. This clearly was an essential release and could make the app more appealing to people around the world, especially considering there are billions of Android devices in use.
Last month, Snap also held its first-ever Partner Summit in Los Angeles, where it showed advertisers, reporters, and creators everything they could do with the platform. It showed that Snapchat stories would come to Tinder and Houseparty; Instant ads will appear in third-party applications; is building a video game platform and a list of original shows; and that he developed new AR filters that make the Eiffel Tower vomit rainbows.
Today and at the summit, Spiegel said that these changes could keep users on the platform longer and keep them more engaged. With these big changes to the platform and an ongoing focus on ad products, Snap could have a resurgence.