In 2022, SNAP, the social network and social media platform known for its disappearing messages and creative filters, saw a huge increase in their business performance. SNAP saw a dramatic increase in user numbers across the board, with their daily active users increasing by 10% from 2021 figures to over 1 billion users worldwide. SNAP also saw over 25% growth in revenue, making it one of the fastest growing social networks in history.
SNAP's advertising business was also a major success this year. SNAP Ads, their main advertising platform, saw an increase of 45% year-on-year in revenue and they managed to take market share away from their biggest competitors like Facebook and Google. SNAP also launched their new SNAP Marketing Platform, which allowed brands to more easily create and manage campaigns across multiple channels.
SNAP's messaging business continued to be a major driver of growth in 2022, with the company launching several new features including Stories, which allow users to share photos and videos for up to 24 hours, as well as SNAPchat Pay, which allowed users to send and receive money with just a few taps. SNAP also saw a huge surge in user engagement, with the average user spending over 30 minutes on the app daily.
Overall, SNAP's performance in 2022 was incredibly impressive, and they have set themselves up for even greater success in the future. With a strong user base and innovative products and services, SNAP is well-positioned to capitalize on the growing social media landscape. SNAP's success in 2022 has solidified their position as one of the world's leading social networks and social media platforms, and we can expect even more impressive results from SNAP in the future.
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