Snapchat sees strong growth in Q1 2021

New Ideas in MarketingEssential news for marketers, summarised by YouGov
April 23, 2021, 2:45 AM UTC

The company’s overall revenue increased 66% YoY to $770 million in Q1 2021.

With a 22% YoY increase in performance, Snapchat is used by 280 million people daily worldwide, according to Snapchat’s latest report. The app saw its biggest growth in the “Rest of the World” segment (111%) in Q1 of 2021, with the company investing in localised content and language support options.

In North America, Snapchat’s average daily active users (DAUs) increased 93% in Q1 2021, while in the European market DAU increased 77% for the quarter. Further, Snapchat’s Snap Original helped the company attract new users and drove in-app engagement.

Also, Snapchat’s AR Lenses grew 40% YoY and its feature Spotlight an option similar to TikTok, was used by over 125 million users. Snapchat’s cost of revenue increased to $158 million YoY, in part due to Spotlight costs.

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