Snapchat is slowly but surely getting more money from a new revenue stream with its Snapchat+ subscription service. This week, the social network"s parent company Snap revealed in its latest financial results (via TechCrunch) that the service now has over 2 million paid subscribers.
That"s actually not too bad for a service that is mainly used to test new features that might be introduced to all Snapchat users at a later date. Snapchat+ costs $3.99 a month and currently includes 12 features unavailable to the rest of its audience. Some of those extra features include pinning your best friend to your account, viewing how many friends rewatched your story, and more. You also get some custom badges as a member.
Snapchat+ launched in June 2022 and quickly gained over one million users six weeks afterward. It obviously took a bit longer to reach the 2 million milestone, but it does show growth, and that"s likely what counts in Snap"s eyes. The service is available in 18 countries and territories.
Overall, Snapchat ended the fourth quarter of 2022 with 375 million daily active users. That"s 57 million users higher compared to the same time in 2021. Revenues came in at $4.6 billion for the past year, up 12 percent compared to 2021. However, the company did suffer losses of $1.430 billion for 2022, compared to losses of $488 million. Snap admitted it faces "significant headwinds" to improve revenues.
Source: Snap via TechCrunch