Key Takeaways from Snapchat Q1 2021 Report

The Snapchat Q1 2021 Report highlights significant updates for brands and advertisers, new functionalities, current engagement figures, and more

The Q1 2021 Report indicates Snapchat has had a productive quarter and an optimistic start for FY 2021. Snapchat Lenses continue to be a substantial contributor in driving engagement.

Brand partnerships, investment in original and localized content, native advertising solutions, and more of such capabilities continue to rise.

Here are few more highlights on how Snapchat continued to sustain its popularity:

• Revenue increased 66% YoY to $770 Mn

• DAUs were 280 Mn in Q1 2021, an increase of 51 Mn, or 22%, year-over-year, with a sequential increase on both iOS and Android platforms. For the first time, the majority of our DAUs for the quarter was on the Android version of our application

Also Read: Snapchat launches resources to help advertisers deal with iOS 14 privacy updates

• In March, over 125 Mn users used Spotlight, an in-app short-format entertainment platform

• Snapchat launched the first local market Snap Original, 'Phone Swap', in India

• Users engaging daily with the augmented reality Lenses grew more than 40% year-over-year in Q1 2021

• Snapchat released Lens Studio 3.4 with improved capabilities around hand tracking, 3D multi-body tracking, and full-body segmentation and a new asset library of 3D models, materials, scripts, and presets to help creators build Lenses

• Lenses created by the Snapchat community via Lens Studio accounted for more than 50% of daily Lens views, on average