Snapchat started as a messaging app for close friends and has now evolved into a hub for influencers and brands. According to Snap Inc., approximately 332 million people use the social media app every day. Much like TikTok’s audience, 75 percent of Snapchat’s users are Gen Z and millennials.
Pathmatics Explorer reveals that between January 1 and May 1, the top 10 advertisers on Snapchat collectively spent more than $189 million on ads in the United States and accrued nearly 31 billion impressions. These advertisers spent 86 percent more on Snapchat ads compared to TikTok ads in the same period. HBO was the top advertiser on Snapchat, investing nearly $26.9 million. Amazon ranked No. 2, budgeting approximately $26 million for its creatives on the platform in the same period of time.
The Media category appeared the most in our analysis, with HBO, NBC, and The New York Times Company making up the cohort. The Retail and Computers & Consumer Electronics categories appeared the second most, with Amazon, Nike, Samsung, and Meta ranking among the top 10 advertisers on Snapchat in the period studied.
Snapchat has been around for more than a decade, and has shown its ability to grow faster than other social networks like Facebook and Twitter. Next week, Pathmatics will release Snapchat spend and impression insights for the U.S., which will be available to customers on May 17, 2022.
Want to see how this data compares to TikTok? Check out our previous post where we analyzed the top 10 advertisers on TikTok. Request a demo today to explore more insights!