What is new about ‘Snap+’, Snapchat’s new premium subscription plan?
Social media platforms are currently marathoning to provide paid-subscription plans to their users. Previously, Telegram introduced its Premium subscription for its users at an affordable price and access to exclusive features. Other social media platforms have also rolled out subscription services recently. Twitter, in 2021, announced the ‘Blue subscription’ with ad-free access to other websites for $2.99 a month.
Participating in a similar race, Snapchat has come up with Snapchat+, its new premium subscription. Let us find out what the newly launched subscription offers.
Snapchat’s Snap+ for Most Passionate Members
On 29 June 2022, Snapchat officially rolled out Snapchat Plus or Snapchat+. It is a paid subscription service offering a collection of exclusive, experimental and pre-release features that are unavailable to free members. Snapchat+ will cost $3.99/month.
The Plus plan includes pre-release, experimental, and exclusive features. These are pinning your close friend as BFF and customizing the app’s icon. These features are mainly intended for the “most passionate members” of Snapchat users, as cited by the company. Subscribers will also be able to see who has re-watched Stories, including the photos and videos that are posted to a user’s feed. Additionally, Snapchat+ users can customize the app’s icon on their home screen by selecting from a variety of designs available.
The premium subscription plan is launched in 9 countries, including the US. The remaining countries are Canada, the United Kingdom, France, Germany, Australia, New Zealand, Saudi Arabia and the United Arab Emirates.
During the rollout of Snapchat+, the team said in the news release, “Over 332 million people worldwide use Snapchat every day to express themselves, live in the moment, learn about the world, and have fun together. We’ve always enjoyed creating new features for our community, and historically we’ve tested new features in different ways, rolling them out to various Snapchatters and geographies. This subscription will allow us to deliver new Snapchat features to some of the most passionate members of our community and allow us to provide prioritized support.”
Diversifying Revenue Sources
Snapchat+ comes after the social media company reported disappointing sales outlook for the current quarter when it reported first-quarter results in April 2022. According to Snapchat CEO Derek Andersen, macroeconomic conditions like supply chain disruptions, labor shortages and inflation are impacting advertising Snap’s main source of revenue.
Moreover, it could reportedly help Snapchat diversify its revenue sources if it starts to gain traction as well as popularity. However, Snapchat’s senior vice president of products Jacob Andreou told The Verge that the company doesn’t expect the plan to become a “material new revenue source.” During the official roll out of Snap+, the company’s shares were down about 1%, as reported by CNBC. .
Moving forward, Andreou cites that ‘single-playerish’ features like the BFF pin will probably remain exclusive to Plus subscribers, while other features that rely on interactions with others may eventually be released for the general user base. It is (oddly) noteworthy that Snapchat+ will continue including advertisements, just like the free Snapchat service. According to Andreou, “ads are going to be at the core of our business model for the long term”
Anwesha has been a creative writer for a while. Currently, on her pursuit of tech writing, she is diving into the realms of technology to produce better content on the forever-changing world of technology. In her free time, you’ll find her humming tunes of her favourite shows or reading a book.