Snap Subscription Service Tops 5 Million Users, Halfway to Goal
At about $4 a month, 5 million users would generate an estimated $240 million a year.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Snap Inc. has gained more than 5 million subscribers for its paid service, an offering that gives users early access to new features like an AI-generated selfie maker for $3.99 a month.
Snapchat+, the subscription product, is part of a broader strategy shift the company made last year to help generate new moneymaking opportunities. Adding a paid option for the video-sharing app was a notable move in a social media industry where apps have historically been free. Snap’s bet seems to be working, with the latest subscriber number jumping from the 3 million figure disclosed in April.