In latest Snapchat earnings update, Snapchat has reported an increase in users, but slower ad growth as a result of ongoing challenges in the digital ads market.
It’s a mixed report – first off, on users: Snapchat added 16 million more daily active users for the quarter, taking it to 363 million DAU.
In the words of Snapchat –
“We grew global time spent across our content platforms by continuing to invest in personalization, driving more subscriptions to creator content, improving content ranking through better understanding of new Snapchatter interests, scaling our Creator and Partner ecosystem, and investing in operations to maximize return on content supply and capacity.”
On Spotlight, specifically, Snap says that total time spent viewing Spotlight content has increased by 55% year-over-year, while over 300 million users now engage with Spotlight content every month.
Snap brought in $1.13 billion for the quarter – a 6% year-over-year increase – its income is hugely reliant on the US market. See image below –
“Our business continued to face significant headwinds in the third quarter, and we took action to further focus our business on our three strategic priorities: growing our community and deepening their engagement with our products, reaccelerating and diversifying our revenue growth, and investing in augmented reality.”
“We believe that Spotlight offers an exciting new way for brands to experiment with video creative and learn how to make content that inspires the Snapchat community. We are also working on new tools that enable businesses to easily promote their most engaging Spotlight content, drive conversions, and measure their success with Ads Manager.”
Snapchat Earnings Update is a good report overall, but, still a long way to go.
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