Snap announced in its fourth quarter earnings report that it now counts 319 million daily active users – a 20% increase over that same figure in 2020.
Furthermore, fourth quarter revenues increased 42% to $1.3 billion year-over-year, marking Snap’s first quarter of positive net income as a public company. Annually speaking, Snap’s revenues were 4.1 billion in 2021 – a 64% increase over 2020.
As a result, Snap’s stock popped as high as 62%, reports CNBC.
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“The strength of our core business has enabled us to accelerate our investments in augmented reality, transforming the way that the Snapchat community experiences the world through our camera,” CEO Evan Spiegel said in a statement.
In terms of content, Snap says the number of viewers of Spotlight — its TikTok competitor — that subscribe to a creator more than doubled over Q3. And Spotlight creators are posting three times as much on a monthly basis compared to when it launched a year ago – with 65% of submissions using Snapchat Lenses or other creative tools.
And roughly 20 Spotlight creators are syndicating shows on Discover, including Patrick Starrr and LaurDIY – whose shows have reached 5 million Snapchatters. In Q4 2021, Snap also said that 25 different Discover partners each reached more than 50 million unique viewers globally. Last quarter, the company added more than 160 international Discover channels.