Snapchat has released a YouTube video for the Cannes Lions event claiming to be the number one destination for advertising to reach millennials . While Snapchat’s advertising product is only a year old, the company anticipates at least $300 million in revenue this year. Snapchat reaches 10 % of 18- to 34-year - olds , compared with 6 % for TV , according to the company 's YouTube channel . Video views on the app have grown by over 50 % in the past year , with twice as many millennials watching the first Republican presidential debate on Snapchat as on TV . The engagement figures are crucial to the company 's efforts to encourage advertisers to spend money , and a new range of ad products was announced earlier this week , including functionality for easy integration of ads on Snapchat 's platform . Despite being only four years old , Snapchat has 100 m daily users and expects revenues in excess of $ 300 million this year .
Snapchat has released a YouTube video for the Cannes Lions event claiming to be the number one destination for advertising to reach millennials . Snapchat reaches 10 % of 18- to 34-year - olds , compared with 6 % for TV , according to the company 's YouTube channel . Video views on the app have grown by over 50 % in the past year , with twice as many millennials watching the first Republican presidential debate on Snapchat as on TV . The engagement figures are crucial to the company 's efforts to encourage advertisers to spend money , and a new range of ad products was announced earlier this week , including functionality for easy integration of ads on Snapchat 's platform . Despite being only four years old , Snapchat has 100 m daily users and expects revenues in excess of $ 300 million this year .