Four million subscribers have signed up for Snapchat+, the company’s subscription service that gives access to exclusive, experimental, and pre-release features. There is a monthly fee of $3.99 for the service in the United States.
A Snapchat+ badge, custom app icons, and Best Friends Forever are just some of the exclusive features available to Snapchat+ users. Snapchat+ will soon have custom chat colors and expressive chat messages, the company said today.
While Snap has grown its subscriber base over the last year, its revenues declined from $1.06 billion in the first three months of 2022 to $988 million in the first three months of 2023.
In addition, Snap must determine whether it can grow its subscriber base over the next year – shareholders will be closely watching.
Between January and March 2023, Snapchat+ managed to reach three million subscribers, according to its first-quarter results press release. To reach four million subscribers, the company has added an additional million subscribers in the past five to six months.
In recent months, Snapchat has gained two features previously only available to Snapchat+ subscribers if they don’t use it or haven’t used it for a while. You can use My AI – a GPT-powered friend to chat with – and Snapchat for the Web from your browser.
If they are ever planning to spend money on Snapchat+, many Snapchat users who use it daily will have already switched to Snapchat+. It will be interesting to see if Snap can maintain or extend its Snapchat+ growth rate despite the economy’s inflation.