More Success For Snapchat+ As The Popular Paid Subscription Model Reaches 5 Million Users

The concept of paid subscription models being launched for popular social media apps is just not something that users have ever been into. After all, many still hold the belief that social media is free and apps that were always up for grabs without any kind of fee attached should remain this way.

Hence, top apps launching subscriptions were always looked down upon, especially during times of an economic downturn.

But Snapchat is one platform that might be an exception as its paid variant continues to rise in terms of success and popularity across the board. It’s definitely a welcoming change as most news these days has companies talking about how their apps getting attached to a paywall has led to a massive decline in user interest.

Snapchat appears to be doing the opposite as the company just marked a massive milestone with more than 5 million paying subscribers who are more than happy with the offerings that its paid model is putting out.

And we feel it’s high time other companies followed in its shoes with a similar template to achieve the right gains.

The last time we heard about this was in the month of June this year when the count stood at 4 million and seeing it rise by another one million in September is just amazing, considering only three months have elapsed.

Let’s compare that to the new Twitter under Musk’s rebranding as X. Today, its Blue Subscription model has one million paying members as a whole. And that is despite the fact that Elon Musk and his team have worked relentlessly on providing incentives so people can sign up for the paid version and get verified with blue ticks.

So as you can imagine, it’s far from what Snapchat+ has managed to accomplish. Did we mention how the firm spoke about generating a monthly income comprising $20 million in terms of direct revenue of the company?

Before we forget to mention, that’s just one small fraction of the total user base of the app. Today, there are more than 750 million people who are active on the app on a monthly basis. And that means out of all the users, just 0.67% are actually paying for the paid variant of the platform.

Still, the success is massive when you compare all other arch-rivals doing the same. And it wouldn’t be wrong to mention how the company is the front runner for such offerings, providing a range of benefits and add-ons for users to gain from.

And that’s what has people coming back for more because they just don’t want your money and they are not only asking fans to pay extra for nothing. They care and it’s evident through such stats.

The company also launched a statement on the matter where they added how the launch of the paid version had more people make the most of their innovative rollouts including those related to AI. Common examples include Dreams and My AI.

And that’s a while before they launched them to the masses. So that means if you pay, you’re definitely benefited. Meanwhile, in the past couple of weeks, we also saw the company launch Extra Streaks as well as unique text sizes to stress things that really do matter.

While we agree that better font styles and displays for application icons are not anything huge when it comes to streaks for Snap, it’s a massive deal for many individuals. Other than that, there are a lot more offerings that add enhanced value for community members like fun wallpapers and options to make your story last longer on the app.

Read next: These Are Top 10 Social Media Platform by Traffic and Time Spent
Previous Post Next Post