Snapchat’s IPO filing gives us some credible figures for the first time about how many people use it, and how.
Five facts stand out:
- Good user numbers: Snapchat has 158m daily users – around 13% of Facebook’s level, reflecting that Snapchat is still heavily biased to younger users compared to more mainstream Facebook.
- OK messaging numbers: 2.5bn messages are sent on Snapchat daily. This is about 12% of the total daily number of SMS sent, with 3% of the number of users. Snapchat is far behind Facebook though, which has over 60bn messages sent daily. In other words user-for-user Facebook / WhatsApp has 3 times as many messages sent as Snapchat. Snapchat would argue that a picture is much more engaging than a text message, and they’d have a point.
- Good engagement: 60% of users create something daily by sending a Snap. Users visit Snapchat 18 times a day on average. These metrics look very like Facebook for stickiness.
- Great time-spent numbers: 25-30 minutes per day is, again, similar to Facebook, and puts it way ahead of virtually all other platforms. This is crucial to monetization.
- 60% of advertising watched with the sound on – a good point of differentiation from Facebook (which is largely sound off). This argument, also used by YouTube, is compelling for advertisers looking for something comparable to traditional TV spots.
One big challenge is notable by not being mentioned. How does Snapchat expand beyond its core youth audience?