Snapchat Update: Introducing Snapchat+ Gift Cards in Retail Stores
November 2, 2024
Snapchat is doubling down on its Snapchat+ subscriptions this holiday season by teaming up with Amazon, Walmart, and Target to sell Snapchat+ gift cards both in stores and online.
An additional spike in Snapchat+ subscriptions over the holiday season is anticipated to be driven by this tactic, following last year’s successful implementation. The Snapchat+ features aren’t for everyone, but they’ve been a big hit with millions of users. I bet a lot of young kids are going to be thrilled to open a Snap gift card this Christmas and be able to customize their app just like their pals.
With the debut of Snapchat+ gift cards exclusively through Amazon last year, the number of Snapchat subscribers skyrocketed, going from 5 million in September to 7 million by the end of Q4, a gain of 40% in just a few months. With 12 million customers, Snapchat+ is a great way for the app to diversify its business and earn more money. Snapchat+ is a useful addition to the platform as it invests in new endeavors like AR glasses, even if adverts still make up over 90% of Snapchat’s revenue.
This method exemplifies how well Snapchat knows its users and what they want.
X Premium, on the other hand, debuted at roughly the same time with a lot of hype but has since had trouble drawing in subscribers, with only about 1.3 million users, all because Elon and his team weren’t sold on the idea of buying blue checkmarks.
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