Snapchat is currently the hottest chat app in the market. Although boasting a significantly smaller number of monthly active users, the chat app now records more than 8 billion video views each and every day.
The days of YouTube and Facebook dominating the world of online video are no longer here and it seems this startup is just the current go-to app. With this revelation, there is no doubt that this app has thrown itself into the limelight as an online video powerhouse. This information was revealed by the application’s CEO Evan Spiegel on Monday at the Morgan Stanley Technology, Media and Telecom Conference.
Snapchat’s daily video views up five times compared to last year
Even though Snapchat hasn’t been releasing its user metrics, latest reports claim that the social chat app has more than 100 million monthly active users. This is the number of people that actually accounts for the more than 8 billion daily views on the app.
According to Spiegel, this newly released figure is actually five times the number released exactly a year ago. Last year November, the largest social networking platform – Facebook – announced that it has reached 8 billion daily video views. However, this application plays home to more than 1.04 billion daily users. This is a figure that no other social media company has ever achieved, although Google’s YouTube also claims that its users generate billions of daily views as well as hundreds of millions of hours of watching.
The fact that Snapchat has just a fraction of the user base that Facebook commands, the released figure suggests that there are more videos being watched by each user on the former as compared to the latter. The way each of these companies records views is also different, where Snapchat users have to tap on a video and watch for it to be counted as a view while Facebook, on the other hand, fills its newsfeed with videos that automatically open to play. The site records any video that plays for at least three seconds as a view, even if you didn’t open to watch it.
As noted earlier, Snapchat doesn’t reveal its real figures and as such, it is hard to tell how the company actually records its video views.
Snapchat has the attention of advertisers
Advertisers from all over are now keen to land space on Snapchat now that the company seems to be attracting such huge traction. Many advertising agencies no longer depend on televisions and instead, they have moved to online platforms. Video consumption has grown immensely in the recent past and with Snapchat setting itself up as a major video destination, it won’t be long before its current market valuation of $16 billion shoots up.