According to the company’s financials sourced from Tofler, Snap Camera India’s revenue rose 28% to ‘101 crore in FY24, compared to ’79 crore in the previous fiscal. Net profit stood at nearly ’10 crore, a 25% jump from ‘8 crore a year ago, while expenses surged 28% to ’88 crore.
The platform primarily generates revenue through advertising, with a smaller contribution from subscriptions. Snapchat+, its subscription service, has over 14 million global subscribers and accounted for 9% of Snap’s global revenue in Q4 2024.
Snapchat is among the fastest-growing social media platforms in India, with over 200 million users, most of whom are young. While the Snapchat app has been available since 2012, the company formally launched its India operations in Q3 2019 alongside a redesigned Android user experience. Snap Camera India declined to comment for this story.
Snapchat has seen exponential growth over the past four years, reaching 100 million monthly active users (MAUs) in Q2 2021 and surpassing 200 million in Q1 2023.
Of its user base, 155 million are in North, East, and West India, while 45 million are in the South, according to Snapchat’s 2024 presentation to brands.Snapchat further reported that 48% of its users in India are between 18 and 24 years old. Additionally, 40% of the user base comprises females, who spend twice as much time on the app compared to males.Snapchat is also investing in India’s creator economy through Spotlight, an entertainment platform for user-generated content.
