Snapchat Will Pull in $50m in Revenue This Year

snapchat comboSnapchat is set to bring in $50m (£32m) in revenues in 2015, thanks to its Discover and Live Stories features which have seen brands paying out unprecedented amounts to advertise on the self-destructing message service.

According to Re/code, the company is targeting $50m in revenues this year, and with 100m daily users within its reach and the US election expected to bring in a new wave of advertising, is predicting that it could make up to $200m next year.

The companys Live Stories feature, which was launched last year and have become one of its most popular capabilities, enables users to share photos and videos themed around a live event.

Snapchat reportedly charges marketers $0.02 per view on 10 second ads within the Live Stories features, and with the average Live Story attracting around 20m people in a 24 hour span, it means that ad space can cost marketers around $400,000 a day. Events like the Coachella music festival boast even higher numbers, with more than 40m unique views a day.

The startups marketing revenues are likely to be accelerated by its recent alliance with WPP and The Daily Mail to create a content marketing agency called Truffle Pig. With the expertise of veteran marketers like Sir Martin Sorrell combined with its access to the key youth demographic, the companys rise is unlikely to slow down any time soon.