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How popular is Snapchat Plus?

How popular is Snapchat Plus?

Snapchat Plus is a new subscription service from Snapchat that offers exclusive features not available on the free version of Snapchat. Since launching in June 2022, Snapchat Plus has generated significant interest and buzz, especially among Snapchat’s core Gen Z user base.

What is Snapchat Plus?

Snapchat Plus is a $3.99 per month subscription that unlocks exclusive features such as:

  • Ability to pin one Snapchat friend as a “#1 BFF” with extra features like rewatching their Stories as many times as you want
  • See how many friends have rewatched your Story
  • Custom Snapchat icons and backgrounds
  • Display location on Snap Map in real time to close friends only
  • New colorful borders for your Bitmoji profile

Snapchat Plus is an evolution of Snapchat’s previous paid tier called Snapchat+, which launched in 2018 but never became widely popular. Snapchat Plus expands the offerings to provide more exclusive features that hardcore Snapchat users may find appealing.

How Many Users Have Signed Up for Snapchat Plus?

Snapchat has not released official user numbers for Snapchat Plus. However, there are estimates based on app data:

  • According to Apptopia, an app analytics firm, Snapchat Plus was downloaded over 1.5 million times globally in the first month after launch.
  • Sensor Tower, another app data provider, estimates Snapchat Plus has been installed over 2.7 million times as of August 2022.

While these early download numbers seem respectable, it represents only a tiny fraction of Snapchat’s total user base, which stands at over 300 million daily active users. The conversion rate from free to paid Snapchat Plus is likely less than 1% of users so far.

Snapchat Plus User Demographics

Snapchat has revealed some insights into the demographics of Snapchat Plus during their latest earnings calls:

  • The majority of Snapchat Plus subscribers are found in the U.S., Canada, UK, France, and Germany.
  • Two-thirds of subscribers are under the age of 25, and one-third are 25-35 years old.
  • Many subscribers use iOS devices, although Android adoption is ramping up.

This points to Snapchat Plus having the most traction with Snapchat’s core Gen Z users in wealthy North American and European markets so far. Adoption is lower among older Millennial Snapchat users.

Revenue Impact for Snapchat

Snapchat Plus represents a new revenue stream for Snapchat as it struggles with a weak advertising market. Here are some of the revenue details revealed by Snapchat:

  • In Q2 2022, the first partial quarter after launch, Snapchat Plus generated $5 million in revenue.
  • Snapchat aims to generate over $100 million in revenue from Snapchat Plus in 2023.
  • ARPU or average revenue per user is around $2.75 per month currently.

While Snapchat Plus revenue is still minimal compared to Snapchat’s $4 billion in total revenue, it has the potential to make a more meaningful impact if adoption continues growing, especially in markets like the U.S. where ARPU could potentially rise to $5-10 per month.

Why Users Are Signing Up for Snapchat Plus

Here are some of the main reasons Snapchat users seem interested in the paid Snapchat Plus so far based on social listening and early reviews:

  • Access to exclusive features like pinning a #1 best friend and seeing rewatch counts
  • Ability to showcase their affinity for Snapchat with custom icons and backgrounds
  • For influencers and creators, the extra insights into rewatches and locations help optimize their content
  • Some sign up just to support Snapchat and access experimental features early

Snapchat Plus appeals most to Gen Z super users who are highly active creating and engaging with content on Snapchat. The exclusive features improve their experience while also providing extra status through customizations.

Why Other Users Haven’t Upgraded to Snapchat Plus

Here are some potential reasons holding some Snapchat users back from subscribing to Snapchat Plus:

  • Limited exclusive features currently offered
  • $3.99 per month fee feels high for what you get
  • Casual Snapchat users don’t need extra features
  • No social pressure yet to have Snapchat Plus
  • Concerns about excessive commercialization

For many Snapchat users, the current Plus features are “nice to have” rather than must-haves. The social platform has not hit the tipping point where users feel FOMO if they don’t upgrade to Plus. Snapchat will likely have to continue adding more exclusive content to drive wider adoption.

How Snapchat Plus Compares to Other Social Media Paid Tiers

Snapchat isn’t the first social platform to launch a paid subscription tier. Here is how Snapchat Plus adoption compares so far to paid offerings from other major social apps:

Platform Paid Tier Monthly Price Estimated Users
Snapchat Snapchat Plus $3.99 2-3 million
Telegram Telegram Premium $4.99 Over 1 million
Reddit Reddit Premium $5.99 Over 100,000
Discord Discord Nitro $9.99 About 1 million

Snapchat Plus is still in the very early stages, but its early adoption seems competitive given the large user base of Snapchat. Telegram and Discord have done well converting free users to paid, while Reddit Premium remains very niche. Snapchat has the advantage of a highly engaged young user base with experience using paid apps and subscriptions.

Should Snapchat Users Upgrade to Plus?

For the majority of casual Snapchat users, Snapchat Plus may not be a necessary upgrade yet. However, for Snapchat power users who are on the app daily and use it as a creative outlet, the exclusive features can enhance their experience:

  • Creators can gain helpful insights from rewatch data to improve content.
  • Frequent chatters will enjoy pinning their #1 friends.
  • Custom icons and backgrounds let users showcase their personality.
  • Early adopters can enjoy testing experimental features.

Users intrigued by the exclusivity and customization of Snapchat Plus may find the $3.99 per month worth it. Others may want to hold off until more features are added before subscribing.

The Future of Snapchat Plus

Snapchat Plus is still in the very early stages, but it has the potential to drive meaningful revenue for Snapchat if adoption continues growing. Here are some possibilities that could help boost interest in Snapchat Plus moving forward:

  • Adding more exclusive filters, lenses, and AR features
  • Access to beta test new experimental Snapchat features
  • Premium Snapchat story and profile customizations
  • Expanded insights for creators and businesses
  • Higher Snap Score and visibility for Plus profiles

To appeal to a wider audience outside of just Gen Z super users, Snapchat will need to carefully expand the exclusive content and capabilities offered in Snapchat Plus without disrupting the core app experience. Overall, Snapchat Plus represents a long-term opportunity to monetize Snapchat’s highly engaged user base.

Conclusion

Snapchat Plus is still in the early innings, but initial signs point to strong interest among Snapchat’s young power user base. While wider adoption across Snapchat’s hundreds of millions of users will take time, Snapchat Plus has the potential to provide meaningful revenue by converting a small percentage of users to paid subscribers. As Snapchat continues building out more exclusive features, Snapchat Plus takes the platform one step closer to a future of premium social networking.