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Business

Namrata Sen

Snap CEO Says Only 3% of Snapchat Users Pay for Subscriptions— He Thinks That's Actually Good News

SNAP Evan Spiegel

Snapchat,Logo,Displayed,On,A,Smartphone,Screen.,With,Snapchat,Ceo

Snap Inc. (NYSE:SNAP) CEO Evan Spiegel said the company’s subscription business has significant untapped potential, adding that it has only begun to capitalize on the opportunity.

During the earnings call on Monday, the CEO highlighted that fewer than 3% of its monthly active users currently pay for subscriptions, leaving “substantial room” to increase subscriber penetration over time through premium features, AI-powered creative tools, as well as additional subscription products.

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