Snapchat's parent co surpasses Rs 100 crore revenue in India

In a significant development for the social media landscape in India, Snap Camera India, the parent company of Snapchat, has reported a revenue exceeding Rs 100 crore for the first time. This milestone underscores the platform's growing influence and success in the Indian market.

According to financial data from Tofler, Snap Camera India's revenue for FY24 reached Rs 101 crore, marking a 28% increase from the previous fiscal year's Rs 79 crore. The company's net profit also saw a notable rise, jumping 25% to nearly Rs 10 crore. However, expenses grew in tandem, surging 28% to Rs 88 crore.

Snapchat's revenue model in India primarily relies on advertising, with a smaller portion coming from subscriptions. The platform's premium service, Snapchat+, boasts over 14 million global subscribers and contributed 9% to Snap's global revenue in Q4 2024.

The social media app has experienced remarkable growth in India, now boasting over 200 million users. This rapid expansion is particularly noteworthy given that Snapchat only formally launched its India operations in Q3 2019, coinciding with a redesigned Android user experience.

Snapchat's user base in India is predominantly young, with 48% of users aged between 18 and 24. The platform also enjoys significant engagement from female users, who comprise 40% of the user base and spend twice as much time on the app compared to their male counterparts.

Geographically, Snapchat's presence is strongest in North, East, and West India, accounting for 155 million users, while the South contributes 45 million users.

Looking ahead, Snapchat is investing in India's creator economy through Spotlight, its entertainment platform for user-generated content. This move aligns with the company's strategy to foster engagement and growth in one of its fastest-growing markets.

As Snapchat continues to evolve and adapt to the Indian market, its financial success and growing user base position it as a formidable player in India's dynamic social media landscape.