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HomeDigital MarketingSnapchat+ surpasses $20 million in monthly revenue, outpaces X Premium

Snapchat+ surpasses $20 million in monthly revenue, outpaces X Premium

Snapchat’s premium subscription, Snapchat+, is experiencing significant and continuous growth, marked by its record-breaking month in terms of in-app revenue. Recent data reveals that the younger demographic on Snapchat is willing to pay for the additional features offered by Snapchat+, such as enhanced story tools, the ability to pin a Best Friend, change the app icon, and early access to new features, including advanced AI functionalities. 

In November, the subscription surpassed $20 million in net revenue (after app store fees) for the first time, with double-digit growth observed in almost every country where Snapchat+ is available.

Comparatively, Snapchat+ outperformed X Premium, formerly known as Twitter Blue, with its in-app revenue reaching $20 million in November, while X achieved $6.2 million in consumer spending, less than a third of Snapchat+’s revenue. These findings, sourced from app intelligence provider Apptopia, coincide with Snap’s announcement in September that Snapchat+ had exceeded 5 million subscribers, indicating continued demand for the product.

The subscription’s popularity persists as Snap introduces more early access features, including the My AI chatbot and expanded access to the generative AI selfie feature called Dreams.

Snapchat+ has demonstrated consistent growth, adding new subscribers to its more-than-a-year-old subscription. Apptopia notes that the subscription generated over $31 million in consumer spending before app store commissions, marking a 23.4% month-over-month increase compared to October. While not the largest percentage increase, it represents the second-largest absolute revenue growth.

The primary markets contributing to the subscription’s consumer spending include the U.S., U.K., France, Australia, and Canada. In November, the U.S. led in net revenue growth, increasing from $1.3 million to $1.8 million, followed by the U.K. ($1.6 million net), France ($1.2 million net), Australia ($1 million net), and Canada ($960,000 net). In simpler terms, the top four countries individually generated over $1 million in revenue each for the Snapchat+ subscription.

Source: Social Samosa

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