Snap is developing a paid subscription called Snapchat Plus
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Amid growing revenue pressures, which forced Snapchat to issue a profit warning last month, Snap is exploring a potential new avenue for monetization, with a new subscription service called Snapchat Plus that gives users access to a new set of exclusive and experimental features and tools.
According to the example shared by app researcher Alessandro Paluzzi, Snapchat Plus comes with multiple payment levels, with a one-week free trial option as well, allowing you to test out what's on offer across the service.
Now and in this early version, this offer includes access to exclusive Snapchat icons, a new profile badge that shows you're a paid subscription user, and new data insights, including the ability to see your friends' location history (over the past 24 hours) and information about who Rewatch your story and the ability to pin a user in the app as your best friend.
Although these additions are not great. But it's still early days for the subscription, and it could change a lot between now and the official release, if it reaches that stage.
"We are conducting early internal testing of Snapchat Plus, a new subscription service for our users," the company said about the subscription. We're excited about the ability to share exclusive, beta, and pre-release features with our subscribers. We want to learn more about how we can best serve our community.
Snapchat Plus is currently undergoing early internal testing
Paluzzi also explains that the subscription price is currently listed as €4.59 per month and €45.99 per year. That is about $4.84 and $48.50. But these prices may be temporary at this point.
Note that Snapchat is not the only social network or messaging platform that is developing a paid subscription. Telegram confirmed that it is developing a premium subscription as well, which is due to be released later this month. Twitter also launched the Twitter Blue subscription late last year.
And in the wake of Apple introducing the Privacy feature for ads with iOS 14.5, allowing users to turn off ad tracking on an app-by-app basis, many free apps have had to reconsider how they make money.
Snap in particular cited changes to iOS as the reason for missing revenue targets. She said she is slowing down hiring this year.
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