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 globally. It now has 190 million daily active users, up from the 186 million people who had consistently been using the platform for the last two quarters. This updated number is still 1 million people short of Snapchat’s peak user base since it went public in 2017, but this is still good news for Snap.
Snapchat CEO Evan Spiegel said in prepared remarks that the platform reaches more 13- to 34-year-olds in the US than Instagram, but didn’t elaborate on why or how its user base suddenly grew. He says Snapchat reaches 75 percent of 13- to 34-year-olds and 90 percent of 13- to 24-year-olds.
Snap had a big quarter that involved not only major product updates, but also the awaited release of its rebuilt Snapchat Android app. The Android app doesn’t have any UI or navigation changes, but it is designed to be faster and less buggy. It’s been in the works for years and talked about on most prior earnings calls. Spiegel says within the first week of upgrading the app, there was a 6 percent increase in the number of people sending Snaps. This clearly was an essential release and might make the app more enticing to people around the world, especially considering that there are billions of Android devices in use.
Last month, Snap also held its first partner summit in Los Angeles where it showed advertisers, reporters, and creators all the things they could do with the platform. It showed that Snapchat stories would come to Tinder and Houseparty; Snap ads will appear in other developers’ apps; it’s building a video game platform and a roster of original programs; and that it developed new AR filters that make the Eiffel Tower puke rainbows.
Today and at the summit, Spiegel said these changes could keep users on the platform for longer and keep them more engaged. With these big platform changes and a continued focus on ad products, Snap might have a resurgence.