Snapchat now has over 750 million active monthly users. Interestingly, just 10 months ago, the social media platform was attracting just 600 million monthly users. For the year through April 2022, the monthly count rose 20%, Snap Inc. Chief Executive Officer Evan Spiegel said at its Investor Day event on Thursday.
“All of this was achieved as a result of the changes we made to our business and despite the deceleration to our revenue growth,” Spiegel told an audience of investors in Santa Monica, California.
Meanwhile, rival Facebook has roughly 2.96 billion monthly active users and Instagram sees close to 2 billion monthly active users. And, Pinterest recently said that it reached 450 million monthly users. In 2021, TikTok announced that it had a 1 billion monthly active users milestone, which is expected to reach 1.8 billion by year-end 2022.
The new number shows that Snapchat’s plan to shift its strategy is paying off and that the app can continue to expand its user base. Last year, the company said that was scaling back operations and narrowing its focus to three priorities: adding users and getting them to spend more time on Snapchat; jump-starting revenue growth; and investing in augmented reality technology.
Out of Snapchat’s 750 million monthly active users, 150 million were in North America. The company plans to move in a direction where it attracts over 1 billion people in the next two to three years.