Snap Inc, the company behind Snapchat, has unveiled a 16% year on year increase in revenues for the full year ended December 31, 2024. Total revenues for 2024 weighed in at $5.36bn in 2024, compared to $4.6bn for the year before. Net loss for the same period was $698 million, compared to $1.32bn in the prior year.
Snap CEO Evan Spiegel said: “In 2024 we made significant progress on our core priorities of growing our community and improving depth of engagement, driving top line revenue growth and diversifying our revenue sources, while building toward our long-term vision for augmented reality. Active advertisers more than doubled in Q4.”
Looking at Q4 2024 highlights, Snap said daily active users (DAUs) were 453 million, an increase of 39 million, or 9% year-over-year. Commenting on Snapchat’s efforts to grow its creative community, the company said: “We continue to support and grow the number of creators in our Snap Star programme, which led to an over 40% year-over-year increase in the number of creators posting content on Snapchat in Q4.”
Looking ahead to the rest of 2025, Snap said it is focused on accelerating and diversifying revenue growth. Promising areas include Snapchat+ subscription revenue, which grew 131% year-over-year in 2024. The company will also continue to prioritise AR, AI and its new unified Monetisation Programme for creators.
