Snap Inc. plans to introduce an “easy” Snapchat app next year, the company’s CEO announced on its quarterly investor call Tuesday. The company revealed that it added 37 million daily active users globally in the third quarter (Q3) of 2024, bringing the total to 443 million. Meanwhile, the fifth-generation Snapchat Spectacles, which were unveiled at the company’s annual summit last month, are now confirmed to be available in more countries.
New Snapchat app and expanded glasses availability
Snapchat announced financial results for the third quarter of 2024, highlighting a 15 percent increase in quarterly revenue year-on-year (YoY) to $1.3 billion (approximately Rs. 11,544 Crore), even though the company reported a net loss of $153 million (approximately Rs. 15.3 crore). Total time spent viewing content on Snapchat increased 5 percent year over year, and its users shared 1 billion Snaps each month during the quarter.
Building on its recent successes, CEO Evan Spiegel announced that a new “easy” Snapchat app will be introduced in the first quarter of 2025. It is currently in testing with more than 10 million engaged users in more than 12 markets. The company also plans to roll it out in higher monetization markets in the next quarter.
Upon launch, the app will target new, less engaged users, an area where the company has reportedly seen the largest increases in content engagement. Snapchat says its app has become complex with the addition of new innovations. This is where the simple Snapchat app would come into play. It’s meant to offer a simpler, more unified experience for basic things like watching stories or watching Highlight.
Snapchat too confirmed Spectacles, the augmented reality (AR) glasses that debuted at the Snap Accomplice Summit 2024 in September, will expand to more markets outside the US. It will soon be available in Austria, France, Germany, Italy, the Netherlands and Spain.
