Snapchat’s premium subscription, Snapchat+, is experiencing remarkable growth, exceeding even Twitter Blue in revenue. Data from Apptopia reveals that, in November, Snapchat+ reached a record high of over $20 million in net revenue (after app store fees), surpassing X Premium’s $6.2 million. This sustained growth indicates that younger users are increasingly embracing the subscription’s perks, including enhanced story tools, early access to AI features like My AI, and the ability to pin Best Friends and change app icons.
Key takeaways:
- Snapchat+ revenue surpasses Twitter Blue: In November, Snapchat+ generated over three times the in-app revenue of Twitter Blue, demonstrating its stronger user base and monetization strategy.
- Over 5 million subscribers: Since its launch, Snapchat+ has attracted over 5 million subscribers, showcasing its appeal among younger users.
- Early access to AI features: Exclusive access to AI features like My AI and Dreams is driving further subscriber growth.
- International popularity: The top markets for Snapchat+ revenue include the US, UK, France, Australia, and Canada, with the US leading with $1.8 million net revenue.
- Unexpected traction: Saudi Arabia’s ranking as the No. 7 market by consumer spending highlights the subscription’s reach beyond established markets.
- Underestimated revenue: Gift card purchases via Amazon are not tracked by Apptopia, suggesting the actual revenue could be even higher.
The future of Snapchat+:
- Continuous subscriber growth and revenue increases suggest a bright future for Snapchat’s premium offering.
- Introduction of new features and exclusive content will likely attract even more users.
- Snapchat+’s success provides valuable insights for other social platforms seeking to explore subscription models.
Image Credits: Apptopia
Overall, Snapchat+’s impressive growth demonstrates the potential of premium subscriptions in the social media landscape. By offering valuable features and catering to its targeted audience, Snapchat has created a successful monetization strategy that sets it apart from its competitors.
Add a Comment