Snapchat's Paid Service Flourishes With 5M Users, Boosting Snap's Revenue
Portfolio Pulse from Anusuya Lahiri
Snap Inc's paid service, Snapchat+, has attracted over 5 million subscribers, contributing to an estimated annual revenue of $240 million. The service offers users early access to premium features for $3.99 per month. The success of Snapchat+ stands out as social media companies explore various paid models. Snap's Q2 revenue was $1.07 billion, down 4% YoY, but above consensus of $1.05 billion.
September 21, 2023 | 6:54 pm
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POSITIVE IMPACT
Snap's paid service, Snapchat+, has attracted over 5 million subscribers, contributing to an estimated annual revenue of $240 million. This could potentially offset the 4% YoY decrease in Q2 revenue.
The success of Snapchat+ could potentially offset Snap's 4% YoY decrease in Q2 revenue. With 5 million subscribers paying $3.99 per month, the service could generate an estimated $240 million annually. This could positively impact Snap's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Snap's successful subscription model stands out as social media companies, including Meta Platforms Inc, explore various paid models.
While Meta Platforms Inc is mentioned in the context of exploring various paid models, the news does not provide specific details about Meta's plans or performance. Therefore, the impact on Meta's stock is neutral in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50