Snapchat has posted a very impressive Q4 result, which shows the company doing great on all fronts. The image-sharing service has been able to establish itself as one of the most attractive platforms for younger audience.
Snapchat has gone about its business in the most professional manner. In the last couple of years, it has been able to re-strategize—and the results are obvious for all to see. In its Q4 report, Snap added 13 million more daily active users; bringing it to 319 million overall.
As represented by the chart below, Snap’s overall audience increased by 20 percent year-over-year. Perhaps, its biggest achievement was in the “Rest of the World” segment, which rose by million users.
Talking about “rest of the world,” Snap’s overall audience in India was quite impressive. The case of India is an interesting one—it could be Snap’s game changer in the coming years.
In terms of revenue, Snap raked in $1.3 billion in Q4; an increase of 42 percent year-over-year. The increase in revenue is a good one—and could form the bases for what is to come in the coming years.
During the week, Pinterest announced its Q4 results, and it was contrast to Snap’s numbers. Once again, Pinterest’s monthly active user count is experiencing a downward spiral for the third consecutive quarter. A report that covered Pinterest’s performance in Q4 2021, showed that it is the third consecutive time this is happening.
During the week, Snap teamed up with Universal to host a virtual concert that featured popstar Jenifer Lopez and Maluma. The concert, which was held on February 3rd, allowed viewers to watch as their Bitmoji avatars.
It was the first of its kind, especially with Snapchat; and could open a lot of other possibilities. The concert was held in the Snapchat app, but spectators were able to access the show by signing into the concert’s dedicated website with their Snapchat login.
Users’ Bitmoji avatars appeared as spectators in the crowd. Snapchat also made available a handful of interactive effects during the show. Some of these effects include the ability to start “the wave” and trigger a virtual laser effect. Both Lopez and Maluma will also appear as 3D avatars.
The event was put together to promote the upcoming rom-com ‘Marry Me,’ and lasted about 10 minutes. It is not clear currently if Snap wants this to be a regular occurrence.