At the end of June, Snap launched a premium subscription to monetize its audience. The first results seem encouraging for the American company, at a time when it concedes heavy losses.
Suffering in the advertising market, like all social networks, Snap is looking for new growth drivers for its Snapchat application. In this logic, the American company launched a premium subscription at the end of June. Called Snapchat+, it provides access to ten exclusive features for €4.49/month or €45.99/year in France ($3.99/month in the United States).
Six weeks after the launch of this paid version, the company led by Evan Spiegel revealed that it had reached one million subscribers. An encouraging performance while this premium subscription offers an offer that is not really revolutionary for Snapchat users. With this paid version, users can change the application icon, find out who has reviewed their stories or even pin one of their friends to the top of the messaging system. Subscribers also have access to a web version to continue their ephemeral conversations from a PC.
Snapchat, a free application available on iOS and Android, or via an internet browser, which allows you to exchange photos and short videos, which have a limited lifespan.
Release date :
Hobbies – Communication
Operating system :
Android, Online service All Internet browsers, iOS iPhone / iPad
New features to flesh out Snapchat+
To make Snapchat+ more attractive, the Californian company has also announced the integration of new features, such as the possibility for subscribers to improve the visibility of their messages on the publications of celebrities or the introduction of new exclusive funds for the bitmojis. To date, the premium version of Snapchat is deployed in 25 countries, such as the United States, Canada, the United Kingdom, France, India, Qatar and even Saudi Arabia. .
If the beginnings of Snapchat+ are promising, and much better than those of Twitter Blue, the premium subscription of Twitter which is struggling to find its audience and which has already seen its price jump by 67%, now remains to be seen if the application will maintain this long-term trend. Currently, Snapchat boasts 347 million daily active users, up 18% year-on-year. Switching them to the paid version of the application is quite a challenge for Snap, which has suffered heavy losses lately.
Over the first six months of the year, the American company has already lost $781.6 million, after conceding $488 million in losses for the whole of 2021. Faced with a delicate context, against a backdrop war in Ukraine and runaway global inflation impacting advertisers’ budgets, not to mention competition from TikTok shaking established social networks, Snap saw its stock plummet by more than 25% on Wall Street on the announcement of its financial results for the second quarter.
Risk Disclosure: The articles and articles on Arover.net do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies.