Snap
Inc.
is
planning
to
introduce
a
“Simple”
Snapchat
app
next
year,
the
company
CEO
announced
at
the
quarterly
investors
call
on
Tuesday.
The
company
revealed
that
it
added
37
million
users
daily
active
users
globally
in
the
third
quarter
(Q3)
of
2024,
taking
the
total
to
443
million.
Meanwhile,
the
fifth-generation
Snapchat
Spectacles,
which
were
unveiled
at
the
company’s
annual
summit
last
month,
will
now
be
available
in
more
countries,
it
is
confirmed.
New
Snapchat
App
and
Expansion
of
Spectacles
Availability
Snapchat
announced
the
financial
results
for
Q3
2024,
highlighting
a
15
percent
increase
in
the
quarterly
revenue
year-over-year
(YoY)
to
$1.3
billion
(roughly
Rs.
11,
544
Crore),
despite
the
company
reporting
a
net
loss
of
$153
million
(roughly
Rs.
15.3
Crore).
The
total
time
spent
watching
content
on
Snapchat
increased
5
percent
YoY,
with
a
billion
Snaps
being
shared
by
its
users
every
month
in
the
quarter.
Building
upon
its
recent
successes,
CEO
Evan
Spiegel
announced
that
a
new
“simple”
Snapchat
app
will
be
introduced
in
the
first
quarter
of
2025.
It
is
currently
in
testing
with
over
10
million
users
involved
in
more
than
12
markets.
The
company
also
has
plans
to
roll
it
out
in
higher
monetisation
markets
over
the
course
of
the
next
quarter.
Upon
launch,
the
app
will
target
new
and
less
engaged
users
—
an
area
where
the
company
is
reported
to
have
seen
the
biggest
increases
in
content
engagement.
Snapchat
says
its
app
has
become
complex
with
the
addition
of
new
innovations.
This
is
where
the
simple
Snapchat
app
would
come
in.
It
is
meant
to
deliver
a
simpler
and
unified
experience
for
basic
things
like
watching
stories
or
watching
Spotlight.
Snapchat
also
confirmed
that
Spectacles
—
the
augmented
reality
(AR)
glasses
that
it
debuted
at
the
Snap
Partner
Summit
2024
in
September
—
will
be
expanded
to
more
markets
outside
of
the
US.
It
will
soon
be
available
in
Austria,
France,
Germany,
Italy,
Netherlands,
and
Spain.