Snapchat has been soaring in popularity recently, but its growth over the past couple of months has been remarkable.
In February, Snapchat’s CEO Evan Spiegel reported to investors that the app’s users were watching 8 billion videos a day.
These views are coming from 100 million daily users, who Spiegel said spend an average of 25-30 minutes on the app daily. Eight billion just so happens to be the same number of daily video views that Facebook reports.
At the end of April, Snapchat reported not 8, but 10 billion daily video views. The app has confirmed the new numbers in a report to Bloomberg. This is significant growth in a short period of time and means that Snapchat has surpassed Facebook in video views. Considering that Snapchat has just one tenth of Facebook’s user base (Facebook boasts over 1 billion daily users), this is a significant accomplishment.
While many people think of Snapchat as being primarily centered on photos, these new numbers prove that Snapchat is all about videos too. Bloomberg reports that the 10 billion views are coming largely from “Stories,” Snapchat’s longer-lasting photo and video compilations.
When users take a photo or video, they can choose to add it to their Story. At any time, users can visit their Snapchat friends’ Stories to see Snaps they have added to it over the past 24 hours.
Unlike normal Snaps, Stories can be viewed an unlimited number of times before the 24-hour mark. Snapchat writes, “Stories honor the true nature of storytelling – Snaps appear in chronological order with a beginning, middle and end.” Both stories and direct Snaps are popular with Snapchat’s predominantly young user base. Spiegel noted that 60% of daily users are either posting Snaps to their Stories or sending them directly to friends. They’re using photos and videos not just as a way to record memories, but as a way to engage in conversations and share quick moments of their daily lives. It’s a different vibe than users find on Facebook or Instagram, and that’s what’s likely to continue setting Snapchat apart (and keep its numbers up). Snapchat is using this growth to build confidence in its upward trajectory among investors. According to Bloomberg, Snapchat’s most recent valuation was $16 billion, and the company is expected to make a public stock offering in the near future.
Written by content manager Meghan Woolley
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