Snap Inc.’s CEO, Evan Spiegel, has grand aspirations for Snapchat+, according to Bloomberg. He envisions the service reaching a remarkable milestone of 10 million subscribers in the ‘medium term.’ This ambition underscores Snap’s commitment to expanding its premium offerings and enhancing user experiences.
Snapchat+ made its debut in June 2022 as a premium subscription service that grants users access to exclusive, experimental, and pre-release features for a monthly fee of $3.99. Over time, it has continued to enrich its offerings, including early access to innovative AI products like My AI chatbot and Dreams. Some of the premium features currently available to subscribers include:
- Pin as #1 Best Friend
- Story Rewatch Indicator
- Custom App Icons
- Snapchat+ Badge
- Priority Story Replies
- Custom Notification Sounds
- Chat Wallpapers
- Chat Effects
- One free monthly Snapstreak Restore
Snapchat+ initially launched in select countries, including the US, Canada, UK, France, Germany, Australia, New Zealand, Saudi Arabia, and the United Arab Emirates. After hitting 1 million subscribers two months after its launch, Snapchat+ was made available in more countries. While reaching five million subscribers is a commendable achievement, it still represents a relatively small segment of Snapchat’s extensive global user community, which boasts 750 million monthly users.
From a revenue perspective, the income generated by Snapchat+ subscriptions remains a modest portion of Snap Inc.’s overall earnings, which primarily stem from advertising revenue. Nevertheless, the continuous growth of Snapchat+ aligns with Snap’s strategic efforts to diversify its income sources and offer added value to its loyal user base.
As Snapchat+ evolves and broadens its premium offerings, it remains an enticing choice for users seeking exclusive features and enhanced experiences on the popular social media platform.
Additionally, recently Snapchat was under investigation by the UK data watchdog over its underage user control.