Snapchat paid subscription enjoys immediate success

• Snapchat Plus is experiencing some early success.
• Snapchat Plus subscribers get early access to features like customizing the app icon and seeing who rewatched your story.
• The company is launching a fresh set of features for its more than 1 million Plus customers today.

With its paid membership service Snapchat Plus, Snap is experiencing some early success. The company claims that since introducing Snapchat Plus in late June, it has accrued 1 million paying users.

For $3.99 each month, Snapchat Plus subscribers get early and exclusive access to features like customizing the app icon and seeing who rewatched your story.

The first significant product for paying customers, Snapchat for desktop, was made available to subscribers in July.

Additionally, Snapchat is launching a fresh set of features for its more than 1 million Plus customers today.

One of the enhancements is priority story answers, which increases the visibility of Plus subscribers’ comments when responding to Snap Stars (public figures and other creators with a verified Snapchat presence).

Other enhancements are purely aesthetic, such as new app icon designs and customized backgrounds for users’ Bitmoji characters.

The ability to add an emoji that friends can see after viewing a Snap will also be available to subscribers.

In an effort to create new revenue streams, Snap launched its paid tier.

It is one of several companies that have been impacted by changes to Apple’s privacy settings that were made last year and which destroyed its advertising business, which is a crucial source of revenue for Snap.

Plus’s first success coincides with Snap’s indication of displeasure with its performance.

Along with the blow to advertising, the company is dealing with broader economic issues, slower business development, and employee layoff plans.

However, the message to investors is that Snap is attempting to turn things around.

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