Snapchat Experiences 39% Year-Over-Year Increase in Revenue

After the decline in daily active users following their redesign in 2017, Snapchat seems to be bouncing back. In the first quarter of 2019, Snapchat reports reaching 190 million daily active users, a 2% increase over last quarter.

Perhaps the most staggering statistic comes from the company’s March report, showing the app reaching 90% of all 13 to 24-year-olds in the United States and 75% of 13 to 34-year-olds. This reach has the company reporting $320 million in revenue for the first quarter of 2019, a 39% year-over-year increase.

How is the app continuing to grow rapidly? The answer lies in advertising. The company has focused on updating its self-serve Ads Manager with features such as target cost bidding, bulk editing and more.

For advertisers and digital marketers, this growth and the investments made to the Ads Manager make the platform much more attractive when trying to reach the younger demographic. As Snapchat continues to grow, we may see an influx of advertisers targeting the app.

Sources: Marketing Land