Snap announces Snapchat+ subscription plan that costs $3.99 a month

Snap announces Snapchat+ subscription plan that costs .99 a month


A man uses the SnapChat app on an Apple iPad Mini.

studioEAST | Getty Images

Snap announced Wednesday it’s rolling out a $3.99/month subscription plan for Snapchat that unlocks exclusive and pre-release features. It’s called Snapchat+.

The announcement comes after Snapchat gave a disappointing sales outlook for the current quarter when it reported first-quarter results in April. Snap CFO Derek Andersen said at the time that macroeconomic conditions like supply chain disruptions, labor shortages and inflation are impacting advertising, Snap’s main source of revenue.

Snapchat+ could help the company diversify its revenue sources, though 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.”

Shares of Snapchat were down about 1% at 11 a.m. ET on Wednesday morning.

The Plus plan includes pre-release, experimental and exclusive features such as pining your close friend as a BFF (best friend forever) and customizing the app’s icon. It is intended for the “most passionate members” of Snapchat users, the company said.

Other social media platforms have also rolled out subscription services recently. Twitter in 2021 announced the Blue subscription that offers ad-free access to other websites for $2.99 a month. Chat app Telegram introduced Telegram Premium in June.

Snapchat+ launches Wednesday in the United States, Canada, the United Kingdom, France, Germany, Australia, New Zealand, Saudi Arabia and the United Arab Emirates.



Source

Core Scientific shares surge 33% on report of buyout talks with CoreWeave
Technology

Core Scientific shares surge 33% on report of buyout talks with CoreWeave

Piotr Swiat | Lightrocket | Getty Images Core Scientific shares surged 35% on Thursday following a report from The Wall Street Journal that artificial intelligence infrastructure vendor CoreWeave is in talks to acquire the bitcoin mining and hosting provider. The company’s stock was briefly halted after the report, and then proceeded to have its second-sharpest […]

Read More
Microsoft says goodbye to the Windows blue screen of death
Technology

Microsoft says goodbye to the Windows blue screen of death

Digital boards are seen due to the global communications outage caused by CrowdStrike, which provides cyber security services to US technology company Microsoft, it was observed that some digital billboards in Times Square in New York City, United States, displayed a blue screen and some screens went completely black on July on 19, 2024. Selçuk […]

Read More
Tesla head of manufacturing Omead Afshar fired by Elon Musk
Technology

Tesla head of manufacturing Omead Afshar fired by Elon Musk

Elon Musk, chief executive officer of Tesla Inc., and Omead Afshar, left, leave an event at the site of the company’s manufacturing facility in Shanghai, China, on Monday, Jan. 7, 2019. Qilai Shen | Bloomberg | Getty Images Tesla CEO Elon Musk has fired Omead Afshar, the automaker’s vice president of manufacturing and operations, CNBC […]

Read More