Snap appears to be making a huge success of its paid membership product, Snapchat+. According to Bloomberg, there are currently 5 million users of Snapchat+. From its 4 million users a few months ago, there are now 5 million active users, an increase of 1 million.
Of course, this pales in comparison to Snapchat, which, at the moment, has over 750 million active users.
However, in comparison to other social media apps like X, it is something remarkable. By providing a supplemental utility and benefit rather than requesting users to subscribe, Snap is taking a slightly different approach from its rivals.
“Since launch, subscribers have been the first to try more than 20 new features, including our latest AI powered products, like My AI and Dreams, before they roll out widely to the rest of our community. In the past few weeks, we’ve also introduced extra Streak restores and expressive text sizes to emphasize what really matters,” Snap said in a statement.
Snapchat+ provides users with exclusive content and features not available on the standard Snapchat. In addition to other features, subscribers can choose the notification sounds for each of their app friends, alter the chat background, and send messages to famous people to have them appear at the top of their inboxes.
Snap has been concentrating on reducing its operations over the past few months and focusing on three key areas: attracting new users and getting them to spend more time on the app, accelerating revenue growth, and investing in augmented reality technology.
In June of last year, Snapchat+ was first made available for $3.99 per month in the US, the UK, Germany, and the United Arab Emirates. If the current growth continues, Snapchat+ could become a significant source of income for its parent company.
Snap revealed in December of last year that it was testing digital goods that could be bought with Snap Tokens. According to Snap, a small group of AR developers and creators are participating in the experiment. Users will be able to access additional tools, AR items, and power-ups within specific Lenses as part of the experiment.
According to an interview with TechCrunch, the head of Snap’s global AR community efforts, the company hand-selected 10 AR creators and developers for the pilot test.
In the initial rollout, Snap concentrated on three use cases for AR. Additionally, Snap searched for three to five developers in each category before settling on a select few.