Snap has announced that Snapchat+ has reached 5 million subscribers, demonstrating the company’s continued success.
What is Snapchat+?
Snapchat+ is one of the social media company’s products featuring a subscription tier, providing users with access to the latest features that enhance their app experience and allow for even more fun with friends.
What are its features?
In line with the advancements in artificial intelligence (AI), Snapchat has incorporated AI into its suite of features. This includes “My AI,” an AI-powered chatbot, and “Dreams,” where subscribers can create imaginative images transforming their persona into new identities, whether it be a mermaid in a deep seascape or a renaissance-era royal.
Recently, the company introduced two additional features to the already feature-rich Snapchat+:
- Expressive Chat Messages: Now, you can convey your emotions with larger reactions or share a brief note. Customize your messages to reflect your mood with expressive font sizes.
- Custom Chat Colors: Select a hue that resonates with you for your messages to friends.
“The idea behind Snapchat+ was to cater to the platform’s highly engaged and loyal community by offering them a subscription service with unique features and early access to app updates.”Ajit Mohan, Snap’s President of Asia Pacific
5 million subscribers = ~$18.75 million per month
Priced at $3.75 per month, the subscription brings in a substantial ~$18.75 million annually for Snap. While it may pale in comparison to other competitors, it still represents a lucrative revenue stream for the social media company, which is doing well amid a saturated industry.