Snapchat+ Gains 4 Million Subscribers Within a Year with AI Chatbot Feature
- tech360.tv
- Jun 30, 2023
- 2 min read
Updated: Jan 3, 2024
[Edited] Snap, the parent company of Snapchat, announced on Thursday that its subscription service, Snapchat+, has amassed over 4 million paying customers.
This milestone comes exactly one year after the launch of the service on Snapchat's flagship platform, showcasing early success in convincing users to invest in premium features. The subscription fee for Snapchat+ is US$3.99 per month.
While the number of paying subscribers revealed by Snap is impressive, it still represents a small fraction of the platform's 750 million monthly active users, as highlighted during its Investor Day event earlier this year.
Snapchat+ offers exclusive access to experimental and pre-release features, as stated in a blog post by Snap on Thursday. Subscribers currently enjoy more than 20 features, including custom app themes, unique app icons, and the ability to pin their #1 BFF.
The introduction of paid subscription services is not unique to Snapchat. Other social media platforms are also exploring ways to monetize their offerings. Twitter, under the ownership of Elon Musk, launched a subscription service called Twitter Blue, priced at US$8 per month. This service grants users coveted features such as the blue check mark, reduced ads, and prioritized tweets in replies, mentions, and search. Twitter Blue has already attracted an estimated 550,000 paying subscribers as of late April. Meta, the parent company of Facebook and Instagram, has also introduced a paid service called Meta Verified, which comes with a monthly price tag of US$11.99.
Despite facing challenges in the past, Snap's shares have seen a rise of approximately 30% in 2023. However, the stock is still down around 86% from its all-time high in late 2021.
Snap announced that Snapchat+ has gained over 4 million paying subscribers in its first year.
The subscription service offers exclusive access to experimental and pre-release features.
The number of paying subscribers is a small fraction of Snapchat's 750 million monthly active users.
Source: CNN
