Snapchat achieved milestone of 750 million monthly active users
Snapchat announced during its 2023 Investor Day that it has reached 750 million monthly active users, a significant increase from the 600 million announced in April 2022.
While Snap usually reports daily active user counts, which currently sit at 375 million, the monthly numbers provide more context on the app's overall growth and presence, as it now has double the number of daily users. However, compared to other apps, Snapchat's daily usage is not as high, with 50% of its total users returning to the app every day, unlike Facebook, which sees 67% of its total users returning daily.
Snap's user growth in North America is flat, but it added four million daily actives in Europe in the last quarter. The "Rest of the World" category has seen the most growth, with India being a significant market for the app. Snapchat reportedly has over 147 million users in India, and the continued rise of mobile phone adoption in the country will likely lead to more growth for the app. While there is a gap in revenue opportunities between established and developing markets, the growth of its user base will provide more opportunities for Snap in the future. With newer options like advanced AR tools and shopping experiences being built into the app, the expansion of its footprint will be essential for the company's growth.
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