Now, Snapchat has officially launched its new Snapchat+ subscription service, which will enable users to pay a monthly fee in order to gain access to exclusive in-app features, including custom app icons, new profile badges, data insights, display tools and more.
And also, make more money, which is a key concern for Snap, which has been hit hard by recent economic shifts, particularly in Europe, leading to reduced ad spend in the app. Based on initial leaks of the Snapchat+ offering, the new subscription program will include:
- Access to exclusive Snapchat icons
- A new profile badge to show that you're a Snapchat+ user
- New data insights, including the capacity to see your friends' location history (over the last 24 hours) and info on who's rewatched your Story
- The capacity to pin a user in the app as 'your #1 best friend'
In my opinion, none of those is hugely compelling. I don't think they're 'game-changing' type features that will see mass adoption. However, they may appeal to a subset of the most passionate Snap users, and if Snap only signs up, say, 1% of its active user base, that would still equate to an additional $13.2 million in monthly income ($159m p.a.) for the app.
What's your take?