Snapchat finally has some good news. The company has now added 7 million new daily active users in the third quarter of 2019. Also, their overall revenues compared to last year grew by 50 percent to $446.2m and the overall user base for Snapchat now stands at 210 million with a 13 percent year-over-year increase.
Last year, Snapchat was facing a major crisis as it had lost many users owing to the poor redesign of the App. These users preferred having the original design and navigation across the App so they had instantly ditched the App when it was updated with the new design. The company didn’t actually do anything about it and looking at the new statistics, it seems the users have finally got adjusted to the redesign.
Also the new 7m users are not complaining about anything as such and Snap is surely back from the dead at the moment. The numbers do tell you how well the company has coped up from its design flaw and how it aims to keep growing and bring in more revenue going forward. If you look at the overall loses for the company, it’s down this year for third quarter at $227.4m in comparison to $324.9m in 2018.
The company also mentioned some of the statistics for the Discover video section. In Q3 2019, there were more than 100 Discover channels with a monthly audience of more than 10 million viewers and the daily time that is spent watching these videos grew by 40 percent. CEO Evan Spiegel also mentioned a noteworthy fact that each active user opens the App about 30 times a day on average.