As stated in their latest annual report, Snapchat’s user base may be less brand loyal and more likely to follow trends than other demographics, including switching to another product. dollars, highlighting the company’s struggle to monetize their predominantly young user base. In the most recently reported fiscal year, Snapchat’s net loss amounted to 944.9 million U.S. dollars in 2020, the company has yet to report a positive net income. While Snapchat’s annual company revenue grew to 2.5 billion U.S.

Snapchat’s user penetration in the United States is projected to start experiencing a slow decrease in 2022, passing from 40 percent in 2021 to 39.6 percent in 2024. In 2020, there were almost 347.3 million monthly Snapchat users worldwide. Snapchat is one of the most popular social networks worldwide. During the latest reported period, the photo and video sharing app claimed 375 million daily active users worldwide. Snapchat's largest audience increase came from users outside of North America and Europe, amounting to 183 million users in the fourth quarter of 2022, up from 175 million in the third quarter. During the final quarter of 2022, Snapchat had 100 million daily active users in North America and 92 million DAU in Europe.

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