Snapchat reached 453 million daily active users in the fourth quarter of 2024, up 39 million, or 9 percent year-over-year.
The social media company reported revenue of $1.55 billion up from $1.36 billion in the prior year. Advertising revenue made up $1.41 billion of that revenue, and was up 10% year-over-year. Net income was $9 million, after a net loss of $248 million in the prior year.
Snap attributed the swing to profit to several factors, including a $117 million improvement in adjusted EBITDA, a $78 million reduction in stock based compensation and related expenses, favorable net investment impacts of $27 million and an improvement of $22 million in non-recurring items due to business restructuring costs incurred in the prior year.
Snap added that its Snap Star program, which allows influencers to make money from their content on the platform, led to a more than 40 percent year-over-year increase in the number of creators posting content on Snapchat in Q4. However, the number of Daily Active Users in North America has remained at 100 million for some time, with growth coming from the “rest of the world” segment, which does not include Europe.
Outside of revenue generated from advertisements, the company’s Other Revenue category, most of which is made up of Snapchat+ subscription revenue, grew 131 percent year-over-year in 2024 and exited the year with an annualized revenue run rate of more than $500 million.
In 2025, the company said it plans to unveil a “simplified Snapchat experience,” focused on accessibility and usability. In 2024, Snap launched its 5th generation of augmented reality glasses, Spectacles. and it now plans to “enhance” its tools to “simplify AR creation and increase the number of Spectacles experiences that can bring augmented reality into everyday life.”
“In 2024 we made significant progress on our core priorities of growing our community and improving depth of engagement, driving top line revenue growth and diversifying our revenue sources, while building toward our long-term vision for augmented reality,” said Evan Spiegel, CEO. “Active advertisers more than doubled in Q4, with the improvements we have made to our advertising platform driving improved advertiser performance and helping to grow revenue 14% year-over-year.”
More to come.
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