Snapchat India’s revenue hits INR 100 crore, with ad spend up 37% in FY24

Snap Camera India, the Indian subsidiary of Snapchat, has crossed the INR 100 crore revenue mark in the fiscal year 2024, driven by strong performance in its advertising business and the introduction of its subscription service, Snapchat+. The company reported a 28.5% increase in operating revenue, rising from INR 78.8 crore in FY23 to INR 101.3 crore in FY24. The platform's India entity also saw its net profit grow by 25.9%, reaching INR 9.7 crore, up from INR 7.7 crore the previous year. 

The platform's user base in India has been growing rapidly, surpassing 200 million users, with a notable 48% of its audience aged between 18 and 24. The company has been focusing heavily on building a younger demographic, with offerings like augmented reality (AR) camera filters appealing to Gen Z users. The platform has also seen a significant expansion in its AR developer community, with a reported growth of more than 50% in the last two years. The popularity of Snapchat in India has positioned it as a strong competitor to other social media platforms like Instagram and TikTok.

Despite the growth in revenue, Snap Camera India’s total expenditure for FY24 rose by 28.7%, amounting to INR 88.3 crore, up from INR 68.6 crore in FY23. Employee benefit expenses increased by 8.1%, while advertising and promotional expenses surged by 37%, reflecting the company’s focus on expanding its reach in India. However, Snapchat did not provide a breakdown of the significant rise in miscellaneous expenses, which jumped by 134.3% to INR 17.1 crore. The company remains focused on deepening its connection with young Indian users, aiming to position Snapchat as the platform of choice for authentic self-expression and innovative brand interactions.