Snapchat Introduces Buddy Passes to Promote Snapchat+ Subscription Offering

Snapchat is launching "Buddy Passes" to promote its Snapchat+ subscription offering. Snapchat+ members can gift a free week of access to their friends, which could drive take-up and add to the program's growing membership. With 15 million Snap users already paying for the add-on package, this could lead to significant exposure and more sign-ups for Snap's paid package. Snapchat+ remains a smaller contributor to revenue compared to ad intake, but its success spells opportunity for further growth.