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Snapchat’s $3.99-a-month paid tier Snapchat+ attracted more than one million subscribers by August. Now it’s getting some new features. Those subscribers can now set their stories to expire for anywhere between one hour and one week, and also set custom notification sounds for different friends’ messages.

Why is this interesting? Because music is involved. Snap told us that it worked with producer A.G. Cook on the first set of custom notification sounds: six instrumentals with more to come. The company sees this feature as a way to collaborate with more artists in the future.

In other Snapchat news, Snap published its latest financial results yesterday. It ended Q3 with 363 million daily active users, up 19% year-on-year. However, TechCrunch noted a sharp drop in Snap’s share price following the results, with analysts disappointed by the company’s quarterly revenues ($1.13bn).

Snap’s market cap is $17.79bn at the time of writing, a long way down from its peak of $131.14bn in September 2021 – although it’s far from the only tech company to have seen such a decline.

Music Ally’s next Learn Live webinar will help you understand what’s required for artists to thrive in new international markets!

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Stuart Dredge

Music Ally's Head of Insight

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