Snapchat has reported in its latest earnings call that it now has more than 2 million paid subscribers on its Snapchat+ program.
The social network first launched Snapchat+ in June 2022 in a bid to diversify its revenue stream.
Snapchat+ was launched in countries like the US, Canada, the UK, France, Germany, Australia, New Zealand, and the United Arab Emirates before it got expanded to India, Kuwait, Qatar, Oman, Bahrain, Egypt, Israel, Denmark Norway, and the Netherlands.
Snapchat+ offers users features like the ability to pin someone as their #1 friend; priority in replies to Snap Star, and see “the general direction of travel for where friends have moved recently” if they have turned on location sharing.
Snapchat has introduced new things to the subscription such as custom notification sounds, story expiration controls, customizable chat wallpapers, and a plan gifting option.
Snap registered a revenue of $1.3 billion in Q4 2022, which was marginally higher than $1.298 billion for the same period in 2021.