Snapchat+ tops 25M subscribers, driving company’s direct revenue ARR to $1B
Snap’s direct revenue business has reached a $1 billion annualized revenue run rate, the company announced on Wednesday. Annualized revenue refers to a business’s current revenue rate projected over a full year. The social media giant says the milestone is driven by its Snapchat+ offering, which has now surpassed 25 million subscribers. Launched in 2022, Snapchat+ gives subscribers access to exclusive and pre-release features for $3.99 per month. Following a successful launch, Snap introduced additional paid tiers beyond the core Snapchat+ subscription over the past year to further diversify its revenue streams. “Snapchat+ has become one of the fastest-growing consumer subscription services globally, with subscriber growth every quarter,” the company wrote in a blog…
