Snap has reached 1 million subscribers for its Snapchat+ premium subscription, the company said on Monday. The service was launched in June as a new source of revenue. The paid subscription feature has slowly expanded to more countries including Saudi Arabia, India and Egypt. It offers access to 11 exclusive features not yet available to general users.
Snap, parent company of social media app Snapchat, has reached 1 million subscribers for its Snapchat premium subscription, the company said on Monday, after launching the service in June as a new source of revenue.
Social media companies including Snap, Twitter, and Meta Platforms, which all earn the majority of revenue from selling digital advertising, are facing a weakening ad market due to record-high inflation causing brands to reign in their marketing spending.
