Snapchat+ Wasn't a Mistake After All...
This is a single insight from This Week in Apps - AI Surge. Check out the full article for more insights.
When Snapchat+ rolled out I called it a way to pay to beta test features and thought it was a mistake and that it wouldn't grow.
Our App Intelligence show that last month, the total gross revenue generated by Snapchat+ crossed half a billion. That's a lot of beta testers.
So, I was wrong - kind of. Snapchat+ had a strong opening months but revenue dipped right after. Like I expected. But that's where things changed - Snap started expanding plus and it didn't take too long for it to grow the features people actually cared about.
Today, Snapchat+ is still a bundle of mostly vanity features, but there are a few features that I think make the subscription attractive to many users - story boost and priority replies. Social media has become as much about the views as it is about the followers, and both of these features go beyond the vanity.
But back to revenue. Our App Intelligence shows that since release, Snapchat+ has earned Snap $581M. We estimate that in August, users spent more than $49M in the app, and that revenue is growing roughly 9% month over month, which means Snapchat will hit a billion by next March.
Like most social media apps, the US is Snapchat's biggest earner, with the UK, France, Saudi Arabia, and Canada rounding out the top 5. Which means there's more room for growth.
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All figures included in this report are estimated. Unless specified otherwise, estimated revenue is always net, meaning it's the amount the developer earned after Apple and Google took their fee.
