Revenue increased 57% y-o-year in Q3 2021: Snapchat Q3 2021 Report

Snapchat Q3 2021

The Snapchat Q3 2021 Report highlights significant updates for brands and advertisers, new functionalities and inclusions, daily active usage, and more.

Snapchat has continued to experience a favorable FY 2021, which further amplifies with increased revenue and expanded userbase, supported by innovative AR experiences and content offerings.

Revenue & Userbase

  • Revenue increased 57% year-over-year to $1,067 million in Q3 2021
  • Daily Active Users increased 23%, year-over-year to 306 Mn in Q3 2021
  • DAUs have consistently grown 20% for four simultaneous quarters

Advertising

  • Snapchat Trends was rolled out for advertisers to improve targeting by differentiating popular keywords shared among the Snapchat community
  • Campaign Lab was launched to enable improved analysis with split tests and garner insights for future campaigns
  • The AR Lab was built in collaboration with WPP to help clients build and deliver immersive experiences on Snapchat
  • Snap announced the launch of Arcadia, a new global creative studio for branded AR

Also Read: Snapchat introduces monetization option for creators

Augmented Reality & Camera

  • Snapchat released the next generation of Scan, adding new categories of intelligence
  • Five of the new AR Lenses were driven by SnapML, a machine learning platform in Lens Studio

Content Offerings

  • Content submissions on Spotlight, a monetized in-app entertainment platform
  • 15 Discover partners reached over 50 million unique users each
  • Snapchat launched new Discover channels in 14 different countries, including 22 new channels in India and UK

“We’re now operating at the scale necessary to navigate significant headwinds, including changes to the iOS platform that impact the way advertising is targeted, measured, and optimized, as well as global supply chain issues and labor shortages impacting our partners. We will continue to focus on delivering strong results for our advertising partners and innovating to expand the capabilities of our platform and better serve our community”, Evan Spiegel, CEO, Snap Inc.


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