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Posted 05/02/2025 10:41am

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Revenue ascends,
Snapchat's growth in ads and users,
Lenses bring new views.

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Snap's 2024 revenue climbs 16% amid direct response advertising surge

Snap Inc. has reported a 16% increase in full year 2024 revenue, reaching US$5.36 billion, largely driven by direct response advertising.

The social media company also saw a 14% year-over-year revenue growth in the fourth quarter, totalling $1.56 billion, despite a noted softness among brand advertisers in North America.

The company's financial performance for 2024 included $276 million in Adjusted EBITDA, $182 million in Free Cash Flow, and a Net Income of $9 million. Snap's global community expanded to 453 million Daily Active Users (DAU) in Q4 2024, marking an increase of 39 million compared to the previous year.

Direct response advertising revenue saw a 14% year-over-year increase in Q4 2024, with app-based purchase optimisations experiencing a growth of over 70% year-over-year. Snapchat+ subscribers doubled from 7 million to 14 million in 2024, contributing to a 131% year-over-year growth in Other Revenue, with an annualised revenue run rate exceeding $500 million.

Snapchat said its platform continued to see significant engagement, with over one billion Snaps shared publicly each month in Q4 2024. The number of creators posting content increased by 40% year-over-year. Snap introduced new features such as Bitmoji stickers and location sharing in its Family Centre during 2024.

The total number of active advertisers more than doubled year-over-year in Q4 2024. Sponsored Snaps and Promoted Places reportedly increased reach by 30% on average in the US. Snap also launched new Snapchat+ features and a unified Monetisation Program for creators.

In 2024, Snap introduced its first branded Dreams AI Lens and launched a Pre-Generated AI Lens. Over 200 million Spotlight videos were created featuring Lenses made by Lens Creators. More than 400 million Snapchatters engaged with new Gen AI Lenses over four billion times in Q4 2024.

Snap also launched a new version of Snap OS and expanded the availability of Spectacles to six new countries. The company introduced educational pricing for Spectacles, offering a student discount for a subscription fee of US$49.50 or €55 a month.

"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," Evan Spiegel, CEO of Snap, commented.

"Active advertisers more than doubled in Q4, with the improvements we have made to our advertising platform driving improved advertiser performance and helping to grow revenue 14% year-over-year."

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