Snapchat is forecast to exceed £100m ($141m) annual revenues in the UK for 2018, according to a forecast by eMarketer. If achieved, it would be nearly double the company's 2017 performance and 10% of global revenues. The company has been growing at an impressive rate since its launch last year, with more than 1 million users signing up on day one alone. Snapchat still accounts for less than 1% of UK digital ad spend compared with Facebook's 20% plus and Instagram's 5%.
Snapchat is forecast to exceed £100m ($141m) annual revenues in the UK for 2018, according to a forecast by eMarketer. If achieved, it would be nearly double the company's 2017 performance and 10% of global revenues. However, Bill Fisher, UK senior analyst at eMarketer, noted that Snapchat's young user base means revenue potential will remain restricted. Snapchat still accounts for less than 1% of UK digital ad spend compared with Facebook's 20% plus and Instagram's 5%.