Snapchat and Reddit Share Q3 Performance Data

In recent Q3 reports, Snapchat and Reddit have both revealed data about their overall recent performance. While Snapchat has seen a couple of stumbles, it still remains fairly strong – whilst Reddit has only grown since last year.

Snapchat has gained 11 million daily active users, reaching 443 million globally. However, growth stagnated in North America, with daily active users remaining at 100 million, a static number for over two years. Nevertheless, Snapchat is cautiously rolling out a redesigned “Simple Snapchat” interface in top revenue-generating regions due to potential disruption.

Snapchat revenue grew by 15% year-over-year for a total of $1.37 billion, with new ad features and options being a key part of these earnings. However, the platform is also experiencing growth limitations in existing mature markets due to users “aging out” of the plaform, which has been prompting Snapchat to search for new ways to expand ad revenue and consider product changes for long-term engagement. Reaching newer audiences has been somewhat difficult, especially in places where Snap is already firmly established.

Reddit has seen an upward trend of 6 million daily active users for a total of 97.2 million. While obviously lower than Snapchat, Reddit also achieved revenue growth of 68% year-over-year, totaling $348.4 million. Additionally, data licensing has emerged as a growing revenue stream, climbing 547% from last year, supported by partnerships with companies like Google and Meltwater.

Both platforms are still seeing major success in many different markets, despite how distinctly different they are. Even with Snapchat’s struggles at growing its user base, both platforms are set to keep growing in the near future – mostly thanks to their respective tweaks and advertising overhauls.