Snap-owned TikTok rival Spotlight garners 100 mn monthly active users

Parent Snap Inc added 16 million daily active users in Q4

e4m by exchange4media Staff
Updated: Feb 5, 2021 6:38 PM

American camera and social media company Snap Inc has added 16 million daily active users in Q4 to take its total user base to 265 million which is a growth of 22% year-over-year. Snap's newly launched short-video platform Spotlight, which is seen as a rival to TikTok, has grown to over 100 million monthly active users in January 2021.

In 2020, Snap strengthened its ad platform to drive improved outcomes for advertisers. It cited the example of OnePlus India which created Lenses for Diwali as a means to bring people together safely during a pandemic. The mobile handset brand's Lenses garnered over 80 million impressions and reached over 14 million Snapchatters in India.

The company's fourth-quarter revenue increased 62% year-over-year to $911million. Net loss and Adjusted EBITDA were $113 million and $166 million in Q42020, respectively, compared to $241 million and $42 million in the prior year, respectively.

FY20 revenue increased 46% to $2.5 billion compared to $1.7 billion. Net loss and Adjusted EBITDA were $945 million and $45 million in 2020, respectively, compared to $1 billion and $202 million in the prior year, respectively.

Sharing its Q1 2021 outlook, the company said that its revenue is estimated to be between $720 million and $740 million, compared to $462million in Q1 2020. Adjusted EBITDA loss is estimated to be between $70 and $50 million, compared to $81 million in Q1 2020.

“We’re grateful for the opportunity to serve our community and partners through this challenging period of time. Our team has worked tirelessly to help people stay close with their friends and family even while they are physically apart, and we’re proud of the strong results we delivered for our advertising partners this quarter and over the full year. We delivered our first full year of Adjusted EBITDA profitability and, as we look towards the future, we’re excited to build on our investments in augmented reality, mapping, and content to drive our ongoing growth," said Snap CEO Evan Spiegel.

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