Snapchat is projecting 1 billion monthly active users in the next two to three years. The company made this projection while announcing that it now has 750 million monthly active users.
750 million is impressive considering the fact that Pinterest recently clocked 450 million MAU. That said, it is pretty difficult to know where Snapchat stands when compared to Twitter, especially since it got acquired by Elon Musk.
According to Bloomberg, CEO Spiegel has now made a priority to gain and sustain new users, which is a pathway towards achieving its projected 1 billion active users by the end of 2025/2026.
According to Snap, of its 750 million monthly active users, 150 million were in North America. The company also used the occasion of its Investor Day event to tease its latest offerings in terms of products such as its 3d Snap Map and the newly launched Communities feature.
Earlier in February, Snap announced that its premium service Snapchat+ now has more than 2 million users. That is quite impressive, and speaks volume of the hard work Snap has put in to making the product a success in the last couple of months.
Snapchat+ serves people exclusive content, and offers features that cannot be found in the regular Snapchat. Among other options, subscribers are able to customize the notification sound for each of their friends on the app, change the background in chats, and able to send messages to celebrities, and have such land at the top of their inboxes.
In the last couple of months, Snap’s main focus has been on scaling back on its operations and narrowing down on three of its priorities including; adding users and encouraging them to spend more time on the app, jump-starting revenue growth, and investing in augmented reality technology.
Snapchat+ was first launched last June in the US, UK, Germany and the United Arab Emirates for $3.99 per month. If the current rise is sustained, Snapchat+ could be a major source of revenue for its parent company.
A couple of months ago, Snap announced that it was testing digital goods that can be purchased with Snap Tokens. The experiment, according to Snap, is with a handful of AR creators and developers. As part of the experiment, users will be able to unlock power-ups, AR items, and extra tools within select Lenses.