With May behind us, it's time to look at Snapchat's revenue and see if the "paid beta testing" feature continues to be in demand.
If you're new to the series, every month, I look at the mobile revenue of social platforms that are trying to monetize their free users, which so far includes Twitter, Snapchat, and Telegram (which isn't but is a social platform).
Focusing on Snapchat, I think I owe Snap a serious apology...
See, I've been saying for months now that its offering isn't enough and that it needs more to grow, but looking at the numbers, they're doing more than fine all on their own.
And by more than fine I mean $13.9M of net revenue from the App Store in May, a 59% increase when compared to April, according to our App Intelligence.
May brings Snapchat's total net revenue since launch to $70M. And that's net, meaning what Snap gets to keep after giving Apple its share.
That's Snapchat's biggest month of revenue and also the biggest in growth. Clearly, people want features first.
Digging into the revenue a bit more, it should come as no surprise that the majority of this revenue, 65.9% to be precise, is coming from the US. But that's also pretty interesting because it means 34.1% is coming from everywhere else.
The UK was the second largest contributor of revenue, followed by Canada, France, and Australia.
Although this still isn't really comparable to its ad revenue, the rate at which revenue is growing is astounding, considering the user base is so used to getting everything for free.
I see this as a great sign for product-led revenue for such platforms.
Which platform do you think is going to follow next?
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