Snap+ Successfully Crossed 2 Million Subscriber Mark, Beating Twitter Blue in Revenue

Snapchat is one of the most popular social media platforms and a pioneer of short videos. It is also a diversified platform with a subscriber base all around the globe. The company’s premium subscription Snapchat+ was launched last year. In its most recent earnings report, Snapchat stated that its Snapchat+ subscription has now more than 2 million paying customers. The company stated that the $3.99 monthly paid subscription (Snapchat+) is a component of “diversifying” its revenue streams.

It is pertinent to mention here that after launching Snapchat+, Snap was able to gather a million users in just 60 days. So, we can see that it has taken the company longer to acquire 2 million paying customers. In nations like the US, Canada, the UK, France, Germany, Australia, New Zealand, and the United Arab Emirates, the social network first debuted Snapchat+ in June 2022. Later, it added India, Kuwait, Qatar, Oman, Bahrain, Egypt, Israel, Denmark, Norway, and the Netherlands to the subscription service.

Snap+ Successfully Crossed 2 Million Subscriber Mark, Beating Twitter Blue in Revenue

Users of Snapchat+ can pin someone as their #1 buddy, receive precedence in replies to Snap Star, the company’s program for well-known producers, and, if location sharing is enabled, view “the broad direction of travel for where friends have moved recently.”

Furthermore, the company added new features to the subscription in the most recent quarter, including personalised chat backdrops, story expiration controls, and a plan gifting option. Data from an analytics firm showed that Snap’s subscription was performing far better than the Twitter Blue subscription. As evident, customers have spent $6.4 million on the Twitter app as of the end of October. Comparatively, Snap’s premium plan produced $28 million in revenue following its introduction, with many users choosing the $39.99 yearly plan. Although the Elon Musk-led firm has introduced a new $8 monthly Twitter Blue plan, there are no statistics on how many users are actually signing up for it.

Check out? Snapchat May Have a Connection with Fentanyl Related Deaths in US: Source