Snapchat Parent Co. Crosses Rs 100 Crore Revenue in India

In a major breakthrough for the Indian social media industry, Snap Camera India, parent of Snapchat, has recorded revenue of over Rs 100 crore for the first time. This achievement reflects the platform's increasing dominance and success in India.

As per financial figures from Tofler, Snap Camera India's FY24 revenue stood at Rs 101 crore, up 28% from the Rs 79 crore of the last fiscal. The net profit of the company also registered a significant increase, increasing 25% to almost Rs 10 crore. Expenses also increased proportionately, rising 28% to Rs 88 crore.

Snapchat's revenue model in India is mainly based on advertising, with a minor contribution from subscriptions. The premium service of the platform, Snapchat+, has more than 14 million subscribers worldwide and accounted for 9% of Snap's revenue worldwide in Q4 2024.

The social media application has had astounding growth in India, now having over 200 million users. Such huge growth is especially impressive since Snapchat officially began its operations in India only in Q3 2019, around the same time when a redesigned Android user interface was released.

Snapchat's Indian user base is largely youth-oriented, with 48% of users falling in the 18-24 age group. The platform also has high usage from female users, who make up 40% of the user base and spend double the time on the app than their male counterparts.

Geographically, Snapchat is most present in North, East, and West India, with 155 million users, and South India contributes 45 million users.

In the coming days, Snapchat is betting on India's creator economy with its entertainment platform for user-generated content, Spotlight. That is in sync with the firm's strategy to boost engagement and growth in one of its most rapidly expanding markets.

As Snapchat grows more mature and refines itself to India's market, its economic success and growing client base make it a force to be reckoned with in India's dynamic social media landscape.