Snap CEO: US Audience Broadens with Older Users, Other Revenue Jumps 85%
Snap CEO said the US audience continued to broaden quarter-over-quarter, led by users aged 35 and older, and that Snapchat+, Memories Storage and Lens+ drove an 85% year-over-year increase in other revenue.
During a conference call, Snap CEO highlighted that the platform's US audience continued to broaden sequentially. The growth was led by people aged 35 and older, indicating an expanding demographic reach beyond its traditional younger user base.
The company's other revenue category saw an 85% year-over-year increase. Growth in this segment was attributed to paid offerings including Snapchat+, Memories Storage, and Lens+. These products are part of Snap's strategy to diversify revenue beyond advertising.
No further details on absolute figures or profitability were provided in the call.
Source: First Squawk