SUMMARY
The company also said that now more than 120 Mn Indian Snapchatters are watching content across stories, and its user generated content tab ‘Spotlight’
The company also announced the launch of an experimental AI-powered chatbot, customised for Snapchat, My AI
Snap Camera India, the India arm of Snap Inc, saw its profit after tax (PAT) posted INR 6.22 Cr profit in FY22
Social media platform Snapchat has crossed over 200 Mn monthly active users in India, the company said on Tuesday.
Snapchat also said that now more than 120 Mn Indian Snapchatters are watching content across stories, and its user generated content tab ‘Spotlight’. On Spotlight, the company has seen more than 3X growth in time spent, although the company did not reveal specific numbers.
“Snap continues to invest in India through a localised platform experience, local content initiatives and partnerships, and a dedicated focus on regional creators via Spotlight and Stories, all helping Snap reach this significant milestone,” the company said in a statement.
Besides revealing user numbers, the company also announced the launch of an experimental AI-powered chatbot customised for Snapchat, My AI, that can recommend birthday gift ideas, plan a trip for a long weekend or even suggest a recipe for dinner.
As per data shared by Snap, Snapchat users in India play with Augmented Reality (AR) Lenses over 50 Bn times every month, and more than 85% of users use Lenses to visually express themselves during festive months in India.
“I am thrilled to have joined Snap at a time where the momentum among our Indian community has never been stronger. We see incredible potential for partners, creators, and brands to build communities and businesses on Snapchat, and we couldn’t be more excited about our future. Young India has particularly valued the healthy and private environment that has been at the heart of our experiences and this will continue to be our focus going forward,” Ajit Mohan, president of APAC, Snap Inc, said.
It is to be noted that Mohan, a veteran in the Indian media and entertainment industry, quit social media giant Meta last year to join Snap.
Among its many innovations in India, Snap Inc launched Snapchat Sounds Creator Fund last year to support emerging and independent artists in India. It also brought a set of parental control tools to India for its users.
Snapchat competes with the likes of YouTube, Instagram, ShareChat, Moj and others in India in the video content category. In digital advertising, it competes with Google, Facebook, Twitter, and ShareChat.
Snap Camera India, the India arm of Snap Inc, saw its profit after tax (PAT) rise 2.14X year-on-year (YoY) to reach INR 6.22 Cr in the financial year 2021-22 (FY22). Snapchat posted a profit of INR 2.91 Cr in FY21.
The company saw its revenue in India reach INR 65.87 Cr, up 2X from the INR 32.7 Cr it posted in FY21. Its expenses in India nearly doubled year-on-year, going from INR 28.75 Cr in FY21 to INR 57.42 Cr in FY22.
