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Snapchat now has over 5M paying users for Snapchat+

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Snapchat has unveiled today that its premium subscription service, Snapchat+, has surpassed the milestone of 5 million subscribers. This noteworthy achievement marks a significant increase from the 4 million subscribers recorded in late June and the 3 million subscribers noted in mid-April. Having been in existence for over a year, this subscription, priced at $3.99 per month, grants users access to a diverse array of exclusive features.

These features include the option to customize app themes, utilize unique app icons, pin your most cherished BFF as your number one, access tools to enhance your Stories, and even track who rewatched them, among other benefits.

The demand for Snapchat+ has steadily grown, particularly as it introduced additional features over time. Notably, subscribers gain early access to Snap’s latest AI products, such as the My AI chatbot and Dreams, a generative AI selfie feature known as Dreams.

Additionally, the availability of Snapchat+ subscriptions through Verizon’s +Play subscriptions store has likely contributed to its growth.

Despite boasting 5 million subscribers, it’s worth noting that Snapchat+’s revenue contribution remains a fraction of Snap’s overall earnings, which reached $1.07 billion in the second quarter, primarily derived from advertising revenue.

In a comparison with another subscription offering, X Premium, formerly known as Twitter Blue, independent research by Travis Brown suggests that X has sold approximately 1 million subscriptions to date.

Elon Musk, the owner of X, claims that the app boasts 550 million monthly active users, while Snapchat reports 397 million daily active users.

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