Snap Camera India, the local subsidiary of Snap Inc., has surpassed the ₹100 crore revenue mark for the first time since its launch in India. The company’s revenue rose by 28% to ₹101 crore in the fiscal year 2024 (FY24), up from ₹79 crore in the previous fiscal year. Net profit also saw a significant increase, standing at nearly ₹10 crore—a 25% jump from ₹8 crore in the prior year.
This growth is primarily driven by advertising revenues, complemented by subscriptions to Snapchat++, the platform’s premium service. Globally, Snapchat+ boasts over 14 million subscribers and contributed 9% to Snap’s global revenue in the fourth quarter of 2024.
Since formally launching its India operations in the third quarter of 2019, Snapchat has experienced rapid user growth in the country. The platform now boasts over 200 million users in India, with 48% aged between 18 and 24. Notably, female users account for 40% of the user base and spend twice as much time on the app compared to male users.
Geographically, Snapchat’s presence is strongest in North, East, and West India, accounting for 155 million users, while the South contributes 45 million users. The company is also investing in India’s creator economy through Spotlight, its entertainment platform for user-generated content.
These milestones underscore Snapchat’s growing influence and success in the Indian market, reflecting its commitment to catering to the preferences of India’s young and dynamic user base.-Airmedia Broadcast.
