Snapchat Revenue & Usage Statistics 2023

Snapchat is a popular social media platform developed by Reggi Brown, Evan Spiegel, and Bobby Murphy in 2011. The platform allows users to share photos and videos with a viewable set duration of 1 to 10 seconds. 

As Snapchat’s popularity rose, it removed the time limitation. Additionally, it added several features, like Stories. It allows users to post photos and videos for 24 hours. Later on, the feature was copied by many other social media platforms.  

Additionally, Snapchat introduced Memories in 2016. This feature reminds users of the event a year later with the image saved or uploaded. 

By regularly adding new features, Snapchat aimed to generate better revenue. A few years after its launch, Snapchat lost $500 million a year. In 2015, Snapchat partnered with Square to add mobile payments in the US. 

Scroll down to learn the data and statistics we have collected on Snapchat. 

Snapchat Revenue

Snapchat Key Statistics 

In 2016, Snapchat debuted augmented reality glasses, i.e., Spectacles. This feature received massive media attention, but it never got to interest a wider public. To become a part of the growing AR industry, Snapchat relaunched glasses once again. 

Furthermore, the app introduced Snapchat Originals with original video series. Many broadcasting companies and brands collaborated with Snapchat Originals after its debut in 2018. 

  • In 2022, Snapchat generated $4.6 billion in revenue. It was a 12% increase year-on-year. 
  • Snapchat recorded a net loss of $1.4 billion in 2022. But the app has not recorded annual profit.
  • The US has more than 28% of daily active users. Globally, Snapchat has 375 million active users
  • By 2021, Snapchat’s stock value had increased by over 350%. But later, the stock price decreased by 70%. 

Snapchat Overview 

  1. Launch Date: 8th July 2011
  2. Headquarters: Santa Monica, California 
  3. People: Bobby Murphy and Evan Spiegel 
  4. Business Type: Public 
  5. Industry: Social 

Snapchat Revenue

By 2022, Snapchat’s revenue had increased by 12% to $4.6 billion. 

Snapchat Revenue

Snapchat Annual Revenue 2015 to 2022 ($bn) 

Year Revenue ($bn)
20150.05
20160.4
20170.8
20181.1
20191.7
20202.5
20214.1
20224.6

Snapchat Profit

In 2022, Snapchat net loss increased to $1.4 for four quarters straight. Its recent profitable quarter was Q4 2021. 

Snapchat Profit

In 2021, Snapchat generated $3.1 billion in advertising revenue. By 2026, this figure is expected to reach $5.9 billion.  

Snapchat Annual Loss 2015 to 2022 ($bn)

Year Revenue ($bn)
2015-370
2016-514
2017-1175
2018-1254
2019-1032
2020-945
2021-489
2022-1428

Snapchat Users

In 2019, Snapchat reversed its user stagnation. Ever since then, it has been adding more users every quarter. A majority of Snapchat users are from outside the US.

Snapchat Users

Snapchat Annual Users 2014 to 2022 (mm)   

Year Revenue ($bn)
201457 
201586
2016143
2017173
2018188
2019203
2020238
2021293
2022347

Snapchat Users by Region

By the year 2021, Snapchat users from the rest of the world increased in US users. Snapchat recorded 162 million users globally in 2022. 

Snapchat Users by Region

Snapchat Users by Region 2014 to 2022 (mm)

Year North America Europe Rest of World 
201430189
2015402918
2016614636
2017755742
2018806147
2019836456
2020907177
20219578120
20229986162

Snapchat Users by Country

India has the largest number of Snapchat users. The number of users in India is expected to increase between 2022 and 2028 by 46.7 million users. The app is also popular in France and the European market. 

Snapchat Users by Country

Snapchat Users by Country 2021 (mm)

Country Users (mm)
India 126
US107
France 24
UK21
Saudi Arabia 20
Pakistan 18
Mexico 16
Germany 15
Iraq 13
Egypt 13
Turkey12

Snapchat Valuation

At IPO in 2017, Snapchat was valued at $25.5 billion. But two years later, the valuation dropped to $16.4 billion. By the end of 2022, Snapchat received a valuation of $33 billion.   

Snapchat Valuation

Snapchat Valuation 2013 to 2022 ($bn)

Year Revenue ($bn)
20130.8
201410
201514.8
201617.5
201725.5
201818.5
201916.1
202019.4
202190.9
202238.3

Snapchat Users by Gender 

Unlike other social media platforms, Snapchat is more popular among women than men. About 53% of users are female, while only 46% are male. In the USA and UK, Snapchat has 55.1% female users.   

The attractive Snapchat filters have made this app quite popular among female users. In 2017, the app was reported to be widely used for dating. 

Snapchat Usage Statistics  

When it comes to usage, Snapchat gets as much attention as Instagram. As of 2022, 34% of Snapchat users were reported to use the app daily. The open rate of both Instagram and Snapchat is more than Facebook. 

Daily usage for Snapchat in Q2 2022 was reported to be 21 minutes. But over the years, the app’s engagement rate has decreased. It is less than Twitter and Facebook.  

Snapchat+ 

Snapchat rolled out its subscription-based service called Snapchat+, worth $3.99 per month. The premium version offers exclusive access to videos and images to users. It includes custom notification sounds, backgrounds, additional icons, and My Story Timer. 

By the third quarter of 2022, more than 1.5 million people have subscribed to Snapchat+. During the launch, the premium service was only available in 9 countries, but now, users from over 170 nations can access it.  

Snapchat FAQ

Ques 1: How much time do Snapchat users spend on the app? 

Ans: On average, Snapchat users spend around 30 minutes on the app. The previously estimated time spent on the app ranges from 27 to 50 minutes. 

Ques 2: How many people use the spotlight on Snapchat?

Ans: More than 125 million people engage through the spotlight on a monthly basis.

Ques 3: How often do users open Snapchat in a day?

Ans: In 2019, users were reported to open Snapchat around 30 times a day.   

Ques 4: How many snaps are sent daily?

Ans: According to Snapchat, more than 5 billion snaps are sent every day. 

Ques 5: What are the gender demographics of Snapchat?

Ans: Most Snapchat users are female. Around 61% of females use the app to share pictures and videos. 

Ques 6: How many lenses has Snapchat created?

Ans: Snapchat is reported to have created more than 3 million lenses for its users.  

Ques 7: What percentage of US teens use Snapchat?

Ans: Around 82% of US teens use Snapchat once a month. Half of the teens in the US consider Snapchat as their favorite app. 

Sunil Gill
Sunil Gill

A digital entrepreneur with over 9 years of experience in digital marketing. Over the years, I have developed a strong passion for app marketing and love to create engaging and informative content around it.