Snapchat adds 70 lakh new users, revenue goes up 50% in Q3 2019

Snapchat anunced its quarterly results for period July - October 2019. While overall revenue of Snapchat increased to $446 million in 3rd quarter this year recording 50 per cent YoY (year-over-year) growth, aver revenue per user saw a 33 per cent year-over-year boost to $2.12.

Snapchat 'Discover' continues to see expansion

Snapchat is betting heavily on fresh, original content delivered to users through its 'Discover' tab. social media company said it aims to focus on building a sustainable premium content ecosystem. app also generated significantly improved user engment while total daily time spent by users watching Discover increased 40 per cent year-over-year. Snapchat also said over 100 Discover channels reached a monthly audience of over 10 million viewers this quarter. More than 50 new Discover channels internationally across eight markets were ded while time spent on premium content globally increased by more than 55 per cent year-over-over.

"Our new horror-thriller Snap Original “De of Night” has reached over 14 million unique viewers since its premiere in September," company said in its presentation slides.

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Focus on augmented reality, gaming

company said it continues to invest in augmented reality platform. At end of Q3 2019, Snap said more than 600,000 Lenses h been created by users through Lens Studio. It also said more than 15 per cent of se Lenses are created using Lens Studio while 'top-performing' Community Lenses reach of billions of views on Snapchat. In Q3 2019, Snap partnered with SYBO Games to launch Subway Surfers Airtime multiplayer game exclusively on Snapchat.

In September, Snap said more than 100 million users interacted with Snaps, courtesy of Snap Kit platform that allows third-party developers to integrate Snapchat features with or platforms. Snap said it doubled number of apps integrated with Snap Kit since Q1 2019. company also anunced Dynamic s to let vertisers create real-time s based on products across hundreds of thousands of categories.

"We anunced that vertisers can w d swipe actions to ir Commercials campaigns, allowing Snapchatters to swipe up to access a web p, view a long-form video, or view a Lens. maximum duration of Snap s has been extended to enable vertisers to tell more detailed brand stories through our video products," company said.

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