Snapchat+ Takes a Big Hit in September
This is a single insight from This Week in Apps - Ups and Downs. Check out the full article for more insights.
September wasn't the bestest of months for apps that monetize the younger crowed. I'm mainly talking about games here, but there are a few other apps that felt the crunch.
Snapchat was one of those apps.
I've been following Snapchat's mobile revenue ever since Snapchat+, the platform's "response" to Twitter Blue, launched last year.
Snapchat+ started as a very simple set of unexciting features, leading me to suggest it won't get too much traction, but I was wrong!
Initial excitement led to nearly $6M in net revenue on launch month, and while it dropped after, revenue eventually rose and with the addition of features that mimicked Elon's Blue, revenue has grown significantly ending with $17.9M in August, according to our App Intelligence.
Snap's (SNAP) biggest month of mobile revenue!
But then September happened...
According to our estimates, Snapchat's mobile revenue dropped a frightening 24% in September down to $13.7M. The drop brought Snapchat's top grossing rank in the US App Store from 24th place in August down to 47th place in mid-September.
Twitter, I mean X, I mean Twitter, took a big hit in September as well so I won't hold this drop against Snap. I'll wait to see October's haul before making any conclusions.
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All figures included in this report are estimated. Unless specified otherwise, estimated revenue is always net, meaning it's the amount the developer earned after Apple and Google took their fee.