From a shareholder and advertiser's perspective, Snapchat was already hitting viewership parity with tv's most popular shows nearly 2 years ago. 30% of millenials are on Snapchat, one of the most expensive demographics to reach through television. Like it or hate it, Snapchat hit critical mass a long time ago.
Snapchat vs. Television - https://gigaom.com/2015/02/24/snapchats-our-stories-are-gene...
Pretty Up-to-date Metrics - http://expandedramblings.com/index.php/snapchat-statistics/