While attracting fewer and fewer of its users, Snapchat has managed to rectify the situation. From now on, their main objective is to gain investors’ trust. The American company is trying to find various solutions to develop its company, mainly the Ads sector, and is on the right track.
Your SMO agency details the essential points of the balance sheet unveiled by Snapchat for the third quarter.
Snapchat Exceeds Expectations
Evan Spiegel’s company has released its complete third-half financial statement, and the numbers are pretty good. The number of users is on the rise, with 210 million daily active Snapchatters, i.e., 13% more compared to last year, in the same quarter, or 7 million more than the previous quarter.
Thus, this results in an increase in the engagement rate on the application, particularly on the Discover tab, with an increase of 40% compared to last year. Figures are more than honorable, but that’s not all.
In addition, we see on this Snapchat report that there is an increase in revenue: the ghost application recorded a 50% increase from 297.7 million to 446.2 million in turnover. As for the break-even point, the company is expected to reach it before the end of the year. We are a high-development organization with merged obtaining influence, a make way to benefit, a good vision for the future, and the capacity to contribute as long as possible. We anticipate chipping away at the open doors that will come our direction.
The Underside Of This Development
This is one of the crucial points in the progress of the photo and video sharing application: taking into account what users are looking for and involving them in the progress of their community. On the one hand, Snapchat has focused on creating a particular version for Android. The company had only been involved with Apple since its inception in 2011. So it decided to offer a smoother, more convenient service for Android users.
On the other hand, Evan Spiegel wanted to provide interactive tools for the community. We can think of the development of filters and lenses; for the most part, they appeared before 2019, but their impact has grown this year, thanks to concepts such as augmented reality or the rise of the Lens Studio, for example. The second, an application for creating two-dimensional animations, saw its use climb with 100,000 more lens creations compared to the previous quarter. We can also think of Snap Games.
Then the second point is that American companies try to find ideas for their advertisements to antagonize their competition, such as Instagram and Facebook. To do this, Snapchat has developed new and different advertising placements and formats, such as Dynamics Ads or Commercials.
For once, advertisers are still a little cautious. But, they show a much stronger interest than usual. They are ready to invest in the application after the latter has diversified its advertising offer as much as possible.
What To Remember?
Despite improving financial results, Snapchat is still trying to convince investors. This is why its stock price is unstable, and Snap Inc. suffered a 4% drop on Wall Street. However, the end-of-year celebrations may be the ideal time to consolidate these suitable bases and continue to develop your strategy.
Although on the right track, it’s a long-term job, and Evan Spiegel is aware of that. In any case, do not hesitate to contact your agency specializing in social networks. Its agents will be perfectly attentive to your situation and your ideas.