Snapchat Revenue and Usage Statistics (2024)

Mansoor Iqbal

Updated: October 10, 2024

Snapchat is an image and video messaging app, developed by Stanford University students Evan Spiegel, Bobby Murphy, and Reggie Brown in 2011.

Its unique selling point was that photos and videos sent to friends would only be viewable for a set duration of 1 to 10 seconds, although Snapchat has removed these limitations.

A number of additional features have also been added, the first of which was Stories. This allowed users to post photos and videos to a feed for 24 hours. The feature was notoriously cloned by Facebook’s Instagram.

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Memories, launched in 2016, was another step towards saving images for longer. When an image is saved or uploaded to Stories, the user is reminded of the event a year later.

Part of the reason for adding new features was to find ways of generating revenue. In 2014, Snapchat only made $3.4 million revenue, while losing over $500 million a year. It added mobile payments in 2015 in the United States, in a partnership with Square.

It also debuted augmented reality glasses, known as Spectacles, in 2016. While the debut received significant media attention, the glasses never caught on with the wider public, but Snapchat relaunched them once and aims to be a big part of the growing AR industry.

Snapchat has added original video series to the app, in the form of Snapchat Originals. ABC, BBC, Buzzfeed, Metro-Goldwyn-Mayer and NBCUniversal have all been tied to Snapchat Originals, although only a few have launched since it debuted in 2018.

The search for new forms of social interaction came as Snapchat’s growth started to stagnate, with daily active users decreasing from 191 million in Q1 2018 to 186 million in Q4 2018. This sent the company’s stock tanking, from a high of $27.09 at IPO in 2017 to $4.92 on 21 December, 2018.

It started to see some recovery when its usage increased, especially in other parts of the world such as India, Saudi Arabia and Mexico, although Apple’s ad tracking changes alongside a downturn in online advertising in 2022 has led to another stock selloff.

That said, it seems unlikely that Snapchat is on the brink of failure, as it continues to grow in users each quarter. Snapchat has found a market, especially in teenagers, but has struggled to win over older users and is far behind Facebook on the revenue generation front. Augmented reality may change that however, a field Snapchat has devoted a lot of resources into.

We have collected data and statistics on Snapchat. Read on below to find out more. Want to dive deeper? Check out our social app report.

Snapchat Key Statistics

Snapchat annual revenues were flat in 2023, reporting $4.6 billion for the second year in a row
Snapchat has not recorded an annual profit, it made a net loss of $1.3 billion in 2023
Over 397 million people use Snapchat daily, 26% are based in the US
Snapchat has seven million subscribers to its premium service

Social App Report 2024

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Snapchat Overview

Title1	Title2
	8 July 2011
	Santa Monica, California
	Evan Spiegel (CEO, co-founder), Bobby Murphy (CTO, co-founder)
	Public (NYSE: SNAP)
	Social

Snapchat Revenue

Snapchat revenue growth stagnated in 2023, as it reported the same annualized total of $4.6 billion.

Snapchat quarterly revenue 2015 to 2024 ($mm)

Snapchat annual revenue 2015 to 2023 ($bn)

Year	Revenue ($bn)
2015	0.05
2016	0.4
2017	0.8
2018	1.1
2019	1.7
2020	2.5
2021	4.1
2022	4.6
2023	4.6

Sources: Company data, Social App Report

Snapchat Profit

Snapchat net loss decreased in 2023 to $1.3 billion. It has not a profitable quarter since Q4 2021.

Snapchat annual net loss 2015 to 2023 ($mm)

Year	Net income / loss ($mm)
2015	-370
2016	-514
2017	-1175
2018	-1254
2019	-1032
2020	-945
2021	-489
2022	-1428
2023	-1322

Sources: Company data, Social App Report

Snapchat Users

Snapchat reversed its user stagnation in 2019 and has continued to add users every quarter since, although the majority of new users are from outside the US.

Snapchat daily active users 2014 to 2024 (mm)

Snapchat users 2014 to 2023 (mm)

Year	Users (mm)
2014	57
2015	86
2016	143
2017	173
2018	188
2019	203
2020	238
2021	293
2022	347
2023	397

Note: Values are daily active users in Q2 of each year. Source: Company data

Snapchat Users by Region

In 2021, Snapchat users from the rest of the world (primarily India) surpassed US users. Over 200 million Snapchat users are from outside the US and Europe.

Snapchat users by region 2014 to 2023 (mm)

Year	North America	Europe	Rest of World
2014	30	18	9
2015	40	29	18
2016	61	46	36
2017	75	57	42
2018	80	61	47
2019	83	64	56
2020	90	71	77
2021	95	78	120
2022	99	86	162
2023	101	94	202

Note: Values taken in Q2 of each respective year. Source: Company data

Snapchat Users by Country

As mentioned above, India makes up 36% of all Snapchat users. The app is popular in France, its largest European market.

Snapchat users by country 2023 (mm)

Country	Users (mm)
India	200
United States	106
Pakistan	30
France	27
United Kingdom	23
Saudi Arabia	22
Germany	19
Iraq	17.7
Egypt	17.2
Mexico	16
Turkey	15.4
Nigeria	15.1
Canada	12
Algeria	7.8
Australia	7.8
Russia	7.7
Netherlands	6.9
Brazil	6.8
Morocco	6.6
Philippines	5

Sources: Hootsuite, We Are Social

Snapchat+ Subscribers

Snapchat had seven million users subscribe to its premium service in March 2024, which gives them access to new features early and an AI selfie maker.

Snapchat+ subscribers 2022 to 2024 (mm)

Date	Subscribers (mm)
2022	1
April 2023	3
September 2023	5
March 2024	7

Sources: Company data

Snapchat Valuation

Snapchat was valued at $25.5 billion at IPO in 2017, but dropped to $16.1 billion value by 2019. In 2021, the company’s market cap shot up more than 350% to $90.9 billion, it has since declined by 79% to $18.7 billion in 2023.

Snapchat valuation 2013 to 2023 ($bn)

Year	Valuation ($bn)
2013	0.8
2014	10
2015	14.8
2016	17.5
2017 (IPO)	25.5
2018	18.5
2019	16.1
2020	19.4
2021	90.9
2022	38.3
2023	18.7

Note: Valuations post-IPO taken on April of respective year. Sources: Crunchbase, Yahoo Finance

Snapchat vs Social Apps: Users

Snapchat has struggled to reach the levels of other messaging apps, such as WhatsApp and Facebook Messenger, but it is very popular with teenagers.

Social app active users 2023 (bn)

Want to learn more about social apps? Check out our Social App Report

Snapchat FAQ

How long does the average Snapchat user spend the on the app?

The average Snapchat user spends 30 minutes on the app, according to Snapchat. Previous estimates range from 27 to 50 minutes

How often do Snapchat users open the app per day?

In 2019, users opened Snapchat 30 times a day on average (TechCrunch)

How many snaps are sent a day?

In 2020, four billions photos were sent on Snapchat on average everyday

What are the age demographics of Snapchat?

61 percent of Snapchat users are female (Hootsuite, We Are Social)

How many lenses have been created on Snapchat?

Over one million lenses have been created as of Q1 2021

What percentage of US teens use Snapchat?

82 percent of US teens use Snapchat once a month and 36 percent say it is there favourite social platform (Marketing Charts)