Snap Inc. is planning to introduce a “Simple” Snapchat app next year, the company CEO announced at the quarterly investors call on Tuesday. The company revealed that it added 37 million users daily active users globally in the third quarter (Q3) of 2024, taking the total to 443 million. Meanwhile, the fifth-generation Snapchat Spectacles, which were unveiled at the company’s annual summit last month, will now be available in more countries, it is confirmed.
New Snapchat App and Expansion of Spectacles Availability
Snapchat announced the financial results for Q3 2024, highlighting a 15 percent increase in the quarterly revenue year-over-year (YoY) to $1.3 billion (roughly Rs. 11, 544 Crore), despite the company reporting a net loss of $153 million (roughly Rs. 15.3 Crore). The total time spent watching content on Snapchat increased 5 percent YoY, with a billion Snaps being shared by its users every month in the quarter.
Building upon its recent successes, CEO Evan Spiegel announced that a new “simple” Snapchat app will be introduced in the first quarter of 2025. It is currently in testing with over 10 million users involved in more than 12 markets. The company also has plans to roll it out in higher monetisation markets over the course of the next quarter.
Upon launch, the app will target new and less engaged users — an area where the company is reported to have seen the biggest increases in content engagement. Snapchat says its app has become complex with the addition of new innovations. This is where the simple Snapchat app would come in. It is meant to deliver a simpler and unified experience for basic things like watching stories or watching Spotlight.
Snapchat also confirmed that Spectacles — the augmented reality (AR) glasses that it debuted at the Snap Partner Summit 2024 in September — will be expanded to more markets outside of the US. It will soon be available in Austria, France, Germany, Italy, Netherlands, and Spain.