Snapchat+ tops 25M subscribers, driving company's direct revenue ARR to $1B

Snap’s direct revenue business has reached a $1 billion annualized revenue run rate, the company announced on Wednesday. Annualized revenue refers to a business’s current revenue rate projected over a full year. The social media giant says the milestone is driven by its Snapchat+ offering, which has now surpassed 25 million subscribers.Launched in 2022, Snapchat+ gives subscribers access to exclusive and pre-release features for $3.99 per month. Following a successful launch, Snap introduced additional paid ...