Snapchat surpasses 30M paid subscribers

The milestone comes a year after Snapchat announced a controversial limit on free storage for its Memories feature and informed users it would start requiring users to pay $1.99 per month for additional storage or subscribe to Snapchat+ to retain their Memories. As for the company’s broader earnings release, Snap’s shares fell 12% after missing ad revenue and user growth estimates. Snap reported 495 million daily active users for the quarter, up from 493 million in the previous quarter. However, the figure fell short of analysts’ expectations of 499 million. “Daily engagement has historically been stable as a percentage of monthly engagement, but we do not intend to optimize Snapchat around daily use at the expense of long-term value for our community,” the investor letter said.

“A longer-term horizon better aligns our reported metrics with the product and safety decisions that strengthen relationships, create lasting utility, and support broader, more durable audience growth.” Spiegel said in the letter than while advertising revenue growth remains below the company’s target, the company plans to prioritize improving advertiser performance and expanding the ways businesses can reach its users. When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence. Aisha is a consumer news reporter at TechCrunch. Prior to joining the publication in