Snap is finding early success with its paid subscription service Snapchat Plus. The company says it has amassed 1 million paid users since launching Snapchat Plus in late June.
A Snapchat Plus subscription gives users early and exclusive access to features for $3.99 a month, including changing the app icon and seeing who rewatched your story. In July, the company rolled out Snapchat for desktop to subscribers — the first major feature for paid users.
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Snapchat is also introducing a new set of features today for its more than 1 million Plus subscribers. Among the updates is priority story replies, which makes Plus subscribers’ responses more visible when replying to Snap Stars (public figures and other creators with a verified Snapchat presence).
Other features are cosmetic, like special backgrounds for users’ Bitmoji characters and new app icon designs. Subscribers will also be able to add an emoji that displays to friends after they’ve viewed a Snap.
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Snap introduced its paid tier in an effort to establish additional sources of revenue. It’s among the many companies that have been affected by changes to Apple’s privacy settings introduced last year that blew a hole in its advertising business — a key way Snap makes money.
The initial success with Plus comes at a time when Snap is signaling dissatisfaction with its performance. In addition to the hit to advertising, the company is juggling broader economic problems, slowing growth at the company, and plans to lay off employees — and the message, at least to investors, is that Snap is working on turning things around.
wazup.