Snapchat users watch more than 2 billion videos every day, according to a recent Bloomberg interview with Snapchat CEO Evan Spiegel.
That’s roughly half the number of daily video views that Facebook gets. But Snapchat is reaching these numbers less than four years after its launch in September 2011, while Facebook has been around since 2004.
Snapchat also has a fraction of Facebook’s userbase. As of March 2015, Facebook sits at 1.44 billion monthly active users, while Snapchat is said to have at least 100 million monthly active users as of last August, according to The Wall Street Journal.
Aside from managing to achieve about half the video views of Facebook with only a fraction of its userbase, Snapchat also revealed to Bloomberg that “more than 60 per cent of 13- to 34-year-old smartphone users in the U.S. are active on the service.”
And while that engaged demographic of millennials is lucrative to advertisers, many brands are still trying to understand how valuable fleeting ads on Snapchat’s Discover service are. Snapchat was initially said to charge advertisers up to a $US750,000 for a video ad that lasts a few seconds and expires after 24 hours, causing some ad execs to balk at the high prices, but Bloomberg says that number has decreased to about $US150,000.
Snapchat is also designed to be used in portrait mode, including videos, which has forced advertisers to alter their video ads — a headache that Spiegel says advertisers are willing to put up with to access Snapchat’s engaged userbase.
“We are fortunate that we have an audience that is compelling and big enough that people will change their video to make it a better product,” Spiegel told Bloomberg.
You can read the full interview with Spiegel over at Bloomberg.