Snapchat now has over 5M paying users for Snapchat+
Reading Time: < 1 minutesSnapchat announced today its subscription service for power users, Snapchat+, has now topped 5 million subscribers — a figure that’s up from 4 million in late June and 3 million in mid-April. Now over a year old, the $3.99 per month subscription offering provides access to a sizable handful of exclusive features, including custom app themes, unique app icons, the ability to pin your No. 1 BFF, tools to enhance your Stories or see who rewatched them, and more.
The demand for the product has been growing over time as Snapchat+ added more features, including early access to Snap’s latest AI products like its My AI chatbot and Dreams, a generative AI selfie feature called Dreams. But the product’s growth has also likely been aided by other channels as well, including the ability to buy a Snapchat+ subscription through Verizon’s subscriptions store called +Play.
Even with 5 million subscribers, the subscription is not generating but a fraction of Snap’s overall revenue — $1.07 billion in Q2 — most of which comes from ads. However, it’s doing better than X’s subscription product, now called X Premium. Independent research indicated that X has sold roughly 1 million subscriptions to date, according to researcher Travis Brown, who’s been tracking the success of the product formerly known as Twitter Blue over on GitHub.
X owner Elon Musk says the app has 550 million monthly active users. Snapchat reports daily active users of 397 million.
Ref: techcrunch
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