Snap Gets 1 Million Subscribers On Snapchat+ In Less Than Two Months

Snap Inc (NYSE: SNAP) announced on Monday that it has reached 1 million subscribers on Snapchat+, the social media platform’s paid subscription program, just a little over six weeks since its launch in late June.

The milestone was announced along with new features for its paying subscribers, including prioritizing replies of Snapchat+ subscribers to ‘Snap Stars’ or creators, the option to select a ‘sign-off’ emoji at the end of their Snaps, exclusive Bitmoji backgrounds, and the option to customize the home screen icon.

The subscription service is priced at $3.99 a month, and while 1 million subscribers might sound tiny next to the social media platform’s 347 million daily active users, the uptake over the relatively short period is promising. 

Like other social media platforms, Snap aims to find other ways to grow revenue, relying less on ad sales. Twitter is currently doing the same thing with Twitter Blue, which costs $4.99 per month.

Snap last traded at $12.38 on the NYSE.


Information for this briefing was found via Snap and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

First Majestic Posts Record Cash Flows In Q1 As Production Costs Fall

Brazil Potash Secures Funding In Support Of US$2.5 Billion Autozales Project

Related News

Snap Falls 25% Following Q3 2022 Results: US$1.13 Billion In Revenue, US$359.5 Million Net Loss

After an onslaught of challenges, Snap Inc. (NYSE: SNAP) was able to squeeze out relatively...

Friday, October 21, 2022, 08:25:04 AM

Snap Shares Plummet Over 39% As CEO Warns Revenue Below Guidance Amid Grim Market Outlook, Takes SocMed Names With It

Like the ephemeral nature of its social media app Snapchat, Snap Inc. (NYSE: SNAP) saw...

Tuesday, May 24, 2022, 10:17:00 AM

Snap Sees Consensus Target Slammed Down To $20 Following Q2 Results

Snap Inc. (NYSE: SNAP) this morning reported its second quarter financial results. The company announced...

Friday, July 22, 2022, 01:30:00 PM

Ontario School Boards Sue Social Media Platforms For “Rewiring” Kids, Ask For $4 Billion In Claims

Four major school boards in Ontario have initiated legal action against tech giants Meta Platforms...

Thursday, March 28, 2024, 10:40:00 AM

Snap Inc. Shuts Down AR Division After Short-lived Run

Snap Inc (NYSE: SNAP) is closing its augmented reality enterprise services (ARES) division, just months...

Thursday, September 28, 2023, 04:19:00 PM