Snapchats increases its community by seven million members, shows its highest revenue in Q3

Recently, Snapchat revealed their performance update for the quarter 3 of this year that shows a significant raise in both users and revenue.

As of now, 210 million people use Snapchat every day. This is a gain from their recorded 203 million users in Q2.

According to the report, most of the seven million new users are from various parts of the world – thanks to the re-designed Android app by the company. It also shows a significant increase in the user’s growth from the Indian market.

Snapchats increases its community by seven million members, shows its highest revenue in Q3

Up until now, Snapchat has mainly focused on iOS devices and has once even acclaimed not to expand into countries like India and Spain.

However, the company has denied such statements and made their stance clear by releasing a full-fledged update for the Android users in April.

Here, it’s worth noting that Android is the most used mobile operating system in India, with over 90% of the mobile users.

When it comes to revenue, Snapchat is looking better than ever with a 50% year-on-year increase to $446 million net worth. Its average revenue per user has also increased by 33% to $2.12. Additionally, the company has noted a total daily time spent watching its Discover content by 40% year-over-year.

Snap: Average revenue per user

Apart from making changes in their main app, the Snap Company continues to roll out new content for the Discover feature and new ad options that allow brands to avail the marketing benefits.

Back in May, Snap reported that their ‘Snap Originals’ were seeing tens of millions of views. The figure has gained significantly over the past few months and according to the recent report, the same is seeing double-digit million views per month.

Its Lens feature also continues to remain popular with over 600,000 Lenses being created by the end of Q3 2019.

Snapchat also added 14 new Landmark locations to its Snap Studio, with two of the new locations based in India – giving the users from the market more exposure to their features.

On the profit front, Snap has to work a little harder to make ends meet. However, the app usage shows great potential and we believe that the company will be able to grasp the same with a little more effort in no time.

What do you think about the new update? Let us know in the comments below!

Read next: Soon you can add your own Home Geofilters in your Snaps on Snapchat
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