According to freshly published industry projections, Snapchat is poised to rocket to new ad revenue heights.
“Snapchat’s messages may disappear, but the company’s advertising dollars are starting to pile up,” Inc. reported Tuesday.
Based on the company’s trajectory, Snapchat may top $1 billion in annual revenue next year.
That projection comes from eMarketer, Inc. confirms.
By selling video ads, sponsored geo-filters and sponsored augmented-reality lenses, Snapchat has built itself the foundation for a quickly-growing advertising business. The company is expected to rake in $366.69 million in ad revenue this year…
The startup is currently valued at $20 billion.
“Advertisers are attracted to Snapchat for its broad reach among young millennials and those in Generation Z, which are valuable demographic groups for many businesses,” says eMarketer principal analyst Cathy Boyle. “To engage those often hard-to-reach consumers, Snapchat has expanded its advertising portfolio over the past year to include a wider array of video ads, and more sponsored geo-filters and sponsored lenses.”