Snapchat says sees “significant potential” in augmented reality advertising

New Ideas in MarketingEssential news for marketers, summarised by YouGov
October 23, 2019, 12:28 PM UTC

The messaging app’s daily active users grew to 210 million from 203 million in the last quarter.

The LA-based company sees “significant potential” in augmented reality advertising and expects its upcoming Spectacle 3 to be a significant building block for its strategy, according to CFO Derek Anderson. The company is banking on its nascent hardware business as an important part of its AR strategy.

Snapchat’s CEO Evan Spiegel said users are “interacting with augmented reality” about 30 times each day on an average. But the company said it is using Spectacles 3 to learn more about wearable computing.

Snapchat reported that it added 7 million new users and got $446 million in revenue in its third-quarter results for 2019. The number of daily active users rose to 210 million, up from 203 million last quarter with growth coming from outside North America and Europe.

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