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Snap Starts Testing New Subscription Feature Called Snapchat+ For Its Users

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Snap subscription

Highlights:

  • Snap tests new subscription feature called Snapchat+
  • It would cost 4.59 euros for a one-month subscription or 45.99 euros for one year.
  • A new profile badge to show that you’re a Snapchat+ user.

Snap is doing internal tests of a paid subscription called Snapchat Plus, which will apparently give users early access to features, as well as other abilities. Snapchat+ would cost 4.59 euros for a one-month subscription or 45.99 euros for one year, according to screenshots Paluzzi posted on Twitter. It would be the first subscription product for Snapchat, which lets users post content stories, play games and scroll through a TikTok-like feature called Spotlight.

Snapchat Plus is one way the company is looking to get more revenue amid falling growth due to inflation and other factors. Earlier in April, Snap Inc had said that its daily active users (DAUs) grew 18 per cent to 332 million year-on-year, more than expected even as it registered disappointing revenue growth in the current quarter. Snap, in its quarterly report mentioned that economic challenges, supply-chain disruptions and inflation may continue to affect revenue growth and advertising demand.

With 332 million users growth annually, Santa Monica, California-based Snap has been growing faster than Twitter and social networking giant Facebook. While Twitter’s monetisable DAUs grew just two per cent in the US and 15 per cent worldwide, Facebook’s DAUs fell in the last quarter.

Snap Subscription offering includes:

  • Access to exclusive Snapchat icons
  • A new profile badge to show that you’re a Snapchat+ user.
  • New data insights, including the capacity to see your friends’ location history (over the last 24 hours) and info on who’s rewatched your Story.
  • The capacity to pin a user in the app as ‘your #1 best friend.’

Snapchat’s not the only social network trying to boost its revenues through subscriptions. Last year, Twitter launched its paid plan called Twitter Blue, first in Australia and Canada, and later in the U.S. and New Zealand. Messaging app Telegram is also gearing up to launch its own subscription service this month. Google Photos also offers exclusive filters and effects to Google One subscribers.

For many years, these apps focused on user growth while offering their services for free, relying on ad money and partnerships. As more restrictions get placed on how ads can be delivered and what data they can collect — and users get increasingly annoyed with the encroaching “you are the product” approach that comes with so much of adtech — these platforms are trying to find more avenues to make money. Asking users to pay for premium features seems to be becoming an increasingly attractive option in those cases.

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