Analyzing the growth of Snapchat Plus

The U.S.-based photo messaging app Snapchat introduced its premium version last year, in July 2022. The paid version of the application offers features that are not available to general users. Just one month into it, Snapchat had 1 million users who paid to unlock the exclusive features.

The latest analysis of Premium Subscription data by AF shows that during the first month of the launch, the app successfully made 5.7 million dollars worth of revenue; however, in August of the same year, the revenue dropped to 4.4 million.

A month later, in September 2022, the exclusive version started to experience a rise in revenue as it reached 4.6 million dollars, followed by 4.75 million dollars in October 2022, and by December 2022, it had already reached 5.6 million dollars worth of revenue. Revenue continued to rise the following year as well. In February 2023, Snapchat Plus was able to generate 6.8 million dollars worth of profit.

The platform concluded its month by generating 27 percent more profit as compared to August. And with just two months left in 2023, the net profit has gone up by another twenty-one percent.

Based on the graph's trajectory, it can be expected that revenue will keep increasing in 2023. Though Snapchat Plus is doing a decent job of generating profit, the profit generated through advertisements is still far ahead. Just last year, the platform was able to make 4.6 billion dollars. However, there are still several areas that can be improved to offer more exciting features to Snapchat Plus users.

Lately, Twitter also got famous due to its "Twitter Blue." Just like Snapchat Plus, Twitter Blue, despite not being able to offer any exclusive features, still managed to grow at a stable rate.

Some of the most exciting features offered at Snapchat Plus include being able to pin someone as your best friend, followed by indicating if anyone rewatched their story. the desktop version of the app, as well as customizing themes. Initially, it was stated that developers would keep updating the "Plus" version from time to time.

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