Snap Surpasses 30 Million Paid Subscribers Amid Q3 Earnings Miss
Snap Inc. announced that its paid subscriber base, including Snapchat+, Lens+, and Memories Storage, has exceeded 30 million users. This milestone represents an increase of 5 million subscribers since February 2024. The company is diversifying revenue through tiered subscriptions ranging from $3.99 to $15.99 per month, leveraging AI-powered features to drive demand for premium experiences. Despite the growth in subscription revenue, Snap's stock fell 12% following its third-quarter earnings release. The company missed analyst expectations for both advertising revenue and user growth, reporting 495 million daily active users against an expected 499 million. CEO Evan Spiegel noted that while ad revenue growth remains below targets, the company is focusing on improving advertiser performance and long-term community value.
Tickers: $SNAP
Topics: ad revenue miss daily active users Snapchat+ subscription subscriber growth user growth miss
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Part of the story Snap Announces Over 30 Million Total Subscribers Across Various Plans (2 articles)