More than 1,400 companies advertised on Snapchat during 2018, according to MediaRadar, helping propel fourth-quarter revenue at parent Snap Inc. to a company record of $389.8 million, up 36 percent from the the previous year.
Snap co-founder and CEO Evan Spiegel said during the company’s fourth-quarter earnings call Tuesday that the platform now reaches 70 percent of 13- to 34-year-olds in the U.S. with premium mobile ads on a monthly basis.
Snap would not comment on third-party data, nor would it reveal the number of advertisers on its platform.
However, a source with knowledge of Snapchat’s ad platform pegged MediaRadar’s total as much too low, saying it likely did not take into account the variety of ad formats—including augmented reality lenses, filters, Story ads, Snap Ads and commercials—or targeting and options like goal-based bidding.
The 1,400 figure pales in comparison to other social platforms.
Facebook chief operating officer Sheryl Sandberg said during her company’s fourth-quarter-2018 earnings call last week that it had over 7 million active advertisers across its services.