Snapchat is holding its 2023 Investor Day today, and its headline announcement is the fact that Snap is now up to 750 million monthly active users, a big jump on the 600 million it announced in April last year.
Snap more regularly posts daily active user counts within its quarterly updates – it’s currently sitting on 375 million DAU, as per its most recent report – but the monthly numbers provide some more perspective on the growth and presence of the app, which now sees exactly double its daily user count overall.
On one hand, that means that Snap isn’t as compulsive as some other apps. Facebook, for example, sees 67% of its total users coming back to the app every day, as opposed to Snap’s 50%. That may not be a big deal, but given the way that Snapchat is used for more intimate messaging, it is interesting that its daily usage is not as high. But then again, Facebook has the advantage of keeping you updated on key milestones and announcements, which likely keeps more of its users coming back.
So where is Snap seeing the most growth?
Well, according to its Q4 numbers, Snap’s user growth in North America is flat, while it added 4 million more daily actives in Europe in the period. Where Snap has seen the most growth, however, is in the ‘Rest of the World’ category, with India, in particular, seeing an uptick in interest.
Snap reportedly now has over 147 million users in India, and as mobile phone adoption continues to rise in the nation, Snap is slowly building its presence.
Which will provide more opportunity for revenue growth and expansion in future, but right now, there is a gap between revenue opportunities in established and developing markets.
Still, 750 million users is a big milestone, and it’s worth noting that Snap is still gaining momentum, and expanding its footprint, which will continue to hold it in good stead as it develops newer options like advanced AR tools and newer shopping experiences, built into the app.