Snapchat reaches 422 million daily active users globally

Social media platform Snapchat reached 422 million daily active users in the first quarter (Q1) this year, an increase of 39 million or 10 per cent (year-on-year).

In Q1, the revenue of its parent company Snap grew 21 per cent (on-year) to $1.195 billion, driven by improvements made to its advertising platform and an increase in demand for its direct-response (DR) advertising



solutions.

“We continued to make progress toward diversifying our revenue sources, with Snapchat+ growing to more than 9 million subscribers in Q1,” the company said in a statement.

In the quarter, overall time spent watching content globally grew year-over-year, driven primarily by strong growth in total time spent watching Spotlight and Creator Stories.