Snap Announces Snapchat+ Subscription Plan Costing $3.99/Month

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

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Click announced Wednesday he’s launching a $3.99/month Snapchat subscription plan that unlocks exclusive and pre-release features. It’s called Snapchat+.

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

Snapchat+ could help a company diversify its revenue streams, though Snapchat’s Senior Vice President of Products Jacob Andreu said edge that the company does not expect the plan to become a “substantial new source of revenue”.

Snapchat shares fell about 1% at 11:00 am ET Wednesday morning.

The Plus plan includes pre-release, experimental, and exclusive features such as adding your close friend to your best friends list (Best Friend Forever) and customizing the app icon. It is designed for the “most passionate members” of Snapchat users, according to the company.

Other social media platforms have also recently launched subscription services. Twitter in 2021 announced a blue subscription which offers ad-free access to other websites for $2.99 ​​per month. Telegram chat app introduced Telegram Premium in June.

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