April 29, 2016
Snapchat users are consuming an enormous amount of video content on a daily basis.
According to a report from Bloomberg, users of the photo- and video-messaging app view 10 billion videos a day, a significant rise from just a few months ago when it was reported there were eight billion daily views in February.
Snapchat has never reported its video consumption data publicly, but has done so with investors “to help explain that its app is focused on serving people who create and broadcast content, not just consume it,” Bloomberg said. That, likely, is where Bloomberg is getting its information from: an investor.
The company has not responded to the report.
Snapchat has come a long way since its beginnings of being strictly a self-destructing message app. It now offers video and audio calls, the ability to replay messages and the option of posting clips of sent content to a Snapchat Story where it can be viewed for 24 hours.
Snapchat rejected a $3-billion, all-cash buyout offer from Facebook three years ago and, considering that it is one of the most popular social platforms and has a steady growth rate, that was obviously a smart move by CEO Evan Spiegel.
Spiegel last year said an initial public offering (IPO) was in the works but, as yet, nothing more has been heard on the matter. There is a lot of speculation that Spiegel plans to take the company public this year, although no firm dates have been mentioned.