Snapchat’s exclusive subscription service, Snapchat+, continues its upward trajectory with a remarkable achievement – it now boasts over 5 million paying subscribers, according to Snap’s latest announcement.
This milestone is a testament to the platform’s growing popularity among its most devoted users. Launched just last June, Snapchat+ reached 3 million sign-ups by April, indicating an impressive rate of expansion. While this figure represents a fraction of Snapchat’s colossal user base, which hovers around 750 million monthly users, it’s undeniably significant for Snap Inc. The company has been actively seeking avenues beyond advertising to bolster its revenue streams. As Snap CEO Evan Spiegel has articulated, the “medium-term goal” is to attain a coveted 10 million paying users.
Snapchat+ owes much of its appeal to its deployment of generative AI tools and a range of exclusive features that beckon users to subscribe to the $4-a-month service. Initially, features like the MyAI chatbot and the more recent generative AI selfie function were accessible only to paying subscribers. Additional perks, including the ability to track how frequently friends view your Story and exclusive Bitmoji customizations, are tailor-made to entice power users and provide added value.
In the world of premium subscription services, Snapchat+ stands out with its remarkable growth. This success story contrasts sharply with Twitter’s X Premium (formerly known as Twitter Blue), which has been championed by none other than Elon Musk as a linchpin of the social media giant’s revival strategy. Although formal subscriber counts for X Premium are undisclosed, estimates suggest the numbers fall shy of one million, as reported by a researcher speaking to Mashable.
Snapchat’s Snapchat+ service is undoubtedly carving its niche among dedicated users, offering an enticing blend of innovative AI technology and exclusive features that set it apart in the competitive landscape of subscription services. As the platform continues to grow, it’ll be interesting to see how it evolves to reach its ambitious 10 million subscriber goal.
Frequently Asked Questions (FAQs) about Snapchat+ Subscribers
What is Snapchat+ and what does it offer?
Snapchat+ is Snapchat’s premium subscription service, designed for its most dedicated users. It offers exclusive features such as generative AI tools, MyAI chatbot, generative AI selfie, and more. Subscribers gain access to these features for a monthly fee of $4.
How many subscribers does Snapchat+ currently have?
As of the latest announcement, Snapchat+ has surpassed the 5 million subscriber mark, showcasing its growing popularity among users.
How does Snapchat+ compare to its competitors?
Snapchat+ has been successful in attracting subscribers with its innovative features and AI technology. In contrast, Twitter’s X Premium (formerly Twitter Blue) has reportedly struggled, with estimates suggesting it has fewer than one million subscribers.
What are Snap Inc.’s future goals for Snapchat+?
Snap Inc.’s CEO Evan Spiegel has set a “medium-term goal” of reaching 10 million paying users for Snapchat+. This indicates the company’s ambition to further expand its subscription base and diversify its revenue sources beyond advertising.
What are some of the exclusive perks offered to Snapchat+ subscribers?
Subscribers to Snapchat+ enjoy several exclusive perks, including the ability to track how often friends view their Stories and customized Bitmoji features. These features are designed to cater to power users and enhance the overall Snapchat experience for subscribers.