Wednesday, February 1, 2023

Snapchat Converts 2 Million To Paid Subscribers, So Far

Venice, California-based Snapchat said this week that it now has more than 2 million paid subscribers--out of approximately 375 million daily active users. The addition of paid subscriptions to the social site are an attempt to diversify the company's revenue from advertising, as it predicts "significant headwinds" will hit its Q1 earnings. Snapchat reported $1.3 billion in revenues for the fourth quarter of 2022, which was a mere 0.1 percent year-to-year growth.