Snapchat takes the lead ahead of other social media platforms in terms of Revenue and User Growth This Quarter

The social media world has a lot of platforms residing in it and among one of the top ones falls Snapchat. While Snapchat previously used to be all about pretty filters and selfies, it has advanced far from it now and so has its user’s numbers.

Snapchat's Q2 2021 earning report shows that the company has seen the highest number of daily active users as well as overall revenue this quarter.

The report claim around 293 million daily users which is an almost 23 percent more increase than the last years’ quarter. This is the highest number of the increase in the daily active users in the history of Snapchat, the last one was calculated four years ago with a rise of 22 percent.

The best and most amazing part about this drastic user increase is that this quarter Snapchat has left behind, one of the top most user favorite application Twitter which currently has 206 daily active users recorded.

While this was all for active user numbers, Snapchat has had a successful year revenue wise as well and the company has managed to collect an overall revenue of 982 million dollars which is a praise worthy increase of about 116 percent ever recorded. In this category, Snapchat has yet again left Twitter behind, but this time Facebook is on the back seat too.

According to the company, the credit for the rise in figures definitely goes to the Snap Team which puts in efforts day and night to bring about new and unique features for its users and because of all the newly introduced, user friendly features, users are more intrigued towards the application. It further stated that one of the main reasons for the increase in users and revenue is because of the massive success of its new feature Spotlight, which has now 49 percent more daily active users than before. Apple’s new ATT feature which asks applications to take user consent before storing their data also did not affect Snapchat negatively, and according to the company they have seen rather more user’s acceptance for consent on Snap than any other application in the market.

The CEO of Snapchat, Evan Spiegel, also mentioned that one reason for the increase in numbers was also because of the reopening of a lot of places in the US after the pandemic lockdown. However, with another wave hitting us and a lot of the countries going back under lockdown implementations the CEO aspects some drop. Though nothing negative has been noticed yet.

The CEO believes while there are some bumpy cracks in the near future, he is still hopeful that the future for Snapchat will be successful because of the augmented reality features the company has introduced and is working further over.

We congratulate Snapchat on this massive success and wish them all the luck for the future.

Read next: Snapchat to Change Ecommerce Space with its New “SnapShop” feature
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