Snap reports over 30 million paid subscribers across its subscription plans
Snap announced that more than 30 million users now pay for its Snapchat+, Lens+ or Platinum subscriptions, adding 5 million subscribers since February. The company also said non‑advertising revenue grew 84 % year‑over‑year, while daily active users rose to 495 million and monthly users to 977 million. Despite the subscription growth, Snap’s shares fell 12 % after the earnings release missed ad‑revenue and user‑growth expectations.
Why it matters
The surge in paid subscribers and strong non‑ad revenue growth could offset weaker advertising performance, but the share‑price decline signals market concern over missed ad targets. Investors will watch whether the subscription revenue stream can sustain overall earnings growth.
Key facts
- 1Snap reported more than 30 million paid subscribers across its subscription plans. finance.yahoo.com
- 2The subscriber base grew by 5 million since February. finance.yahoo.com
- 3Lens+ is priced at $8.99 per month. finance.yahoo.com
- 4Snapchat+ Platinum is priced at $15.99 per month. finance.yahoo.com
- 5Daily active users were 495 million for the quarter. finance.yahoo.com
- 6Non‑advertising "other" revenue grew 84 % compared with the prior year. engadget.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.