Snap says subscription community surpasses 25M Snapchatters

In a blog post, Snap (SNAP) said: “Every day, millions of people use Snapchat to connect with friends and family in ways that feel personal and real. Today, we’re excited to share that our direct revenue category-the portfolio of products where Snapchatters support the platform directly-has exceeded a $1B annualized revenue run rate. This milestone is anchored by our global subscription community, which has now surpassed 25 million members. Since launching in late 2022, Snapchat+ has become one of the fastest-growing consumer subscription services globally, with subscriber growth every quarter. What started as an early-access program for our most engaged Snapchatters has quickly scaled into a meaningful business-one that now represents a strong and growing revenue stream alongside our ads business… Snapchat plays an intimate role in people’s lives-it’s where millions connect everyday with the people who matter most to them. With more than 946 million monthly active users worldwide, Snapchat is on a path toward reaching one billion people globally… Looking ahead, we’re continuing to grow Snapchat+ with ongoing investment in customization and community-driven features. Yesterday, we announced we’re expanding opportunities for creators with Creator Subscriptions, a new product that allows fans to subscribe directly to creators for exclusive content, priority engagement, and an ad-free experience within creators’ Stories.”