Snapchat has announced that its subscription service for dedicated users, Snapchat+, has surpassed 5 million subscribers. This marks an increase from 4 million in late June and 3 million in mid-April. Launched over a year ago at a price of $3.99 per month, Snapchat+ offers a variety of exclusive features, including custom app themes, unique app icons, the ability to pin your top BFF, tools to enhance your Stories, and insights on who has rewatched them.
The growing demand for Snapchat+ can be attributed to the addition of new features, such as early access to Snap’s latest AI tools, including the My AI chatbot and Dreams, a generative AI selfie feature. The subscription’s growth has also benefited from partnerships, such as the option to purchase a Snapchat+ subscription through Verizon’s subscription platform, +Play.
Despite reaching 5 million subscribers, Snapchat+ accounts for only a small portion of Snap’s overall revenue, which was $1.07 billion in Q2, primarily driven by advertising. Nevertheless, Snapchat+ is outperforming X’s subscription service, now known as X Premium. According to independent research by Travis Brown, who tracks the performance of the product previously known as Twitter Blue, X has approximately 1 million subscriptions sold to date.
Elon Musk, owner of X, claims that the platform has 550 million monthly active users, while Snapchat reports 397 million daily active users.