Despite strong growth in its users (to 332 million daily actives by the end of March 2022) Snapchat’s parent company Snap saw its stock price fall sharply after a revenue warning in May. Could subscriptions restore investor confidence in what’s so far been an advertising-driven business? We’re about to find out.
Yesterday Snap took the wrappers off Snapchat+ which is a new subscription tier for its popular app. Costing $3.99 a month, it will offer “a collection of exclusive, experimental, and pre-release features” to people who pay.
It’s launching in nine countries initially: the US, Canada, UK, France, Germany, Australia, New Zealand, Saudi Arabia and the UAE. For now, some of those exclusive features seem relatively minor: seeing who rewatched one of your stories, for example, or pinning a favorite friend to the top of your chat screen.
According to The Verge, the subscription does not include the ability to remove ads, either.
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