Snap released their Q3 performance report late last week. It’s as mixed as you might expect, given the circumstances…
Growing everywhere: That’s the good news. Snap recorded 16M more daily active users (DAU) since last quarter, for a total 363M DAU across the globe.
Also, the average time spent watching content increased, mostly thanks to Spotlight, Snap’s short form video feature, where viewing increased 55% year-over-year.
… But in the US: DAU fell 4% and total content viewing time fell 5%. Not a good sign for a company that relies on US dollars.
Hitting the brakes: Snap reported $1.13B revenue this year, which is 6% more year-over-year.
However, this is the company’s slowest growth rate since going public. Snap says “business continued to face significant headwinds during Q3.”
Is the economy to blame for all? Snap says it is. Of course, Apple’s ATT might be a culprit, too, by making Snapchat Ads less efficient and less worthwhile for users.
Combine that with ad spend declining everywhere and this quarter’s results aren’t so surprising.
Our take? Snap has a lot going for it: Spotlight content, overall growth, and augmented reality being just a few advantages.
Just keep an eye on Snap’s quarterly reports in addition to your own metrics if you’re running Snapchat Ads in the US.
It’s a good idea to maintain a big picture view of the platform’s performance as it relates to your own marketing goals.