Snapchat’s TikTok-style platform Spotlight has acquired more than 100 million monthly active users in less than three months.
Despite social media reaching a saturation point, Snapchat continues to grow in double digits. Snapchat’s TikTok competitor Spotlight – a short-form video platform where creators have the opportunity to get paid – has more than over 100 million monthly active users.
Snapchat reported steady user growth, with daily active user growing by 22% to 265 million. A significant percentage of that growth can be attributed to Snap’s Discover platform. The social platform said, “over 90% of the U.S. Gen Z population watched Shows and publisher content in Q4 2020.”
Users over 35 years old have also spent 30% more time on Discover in Q4 2020. The American multimedia messaging app further reported $911 million revenue compared to a consensus estimate of $857.4 million cited by CNBC.
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