In an effort to expand its customer base, Snap Inc. said on Wednesday that 3 million people are now using its subscription service Snapchat+.
The business said at its Snap Partner Summit event that Verizon customers would soon be able to purchase Snapchat+ memberships through the carrier’s +play subscription shop.
The company’s efforts to diversify its revenue streams beyond digital advertising, which is failing as some firms slash marketing spending due to economic concerns, have been greatly helped by Snapchat+, which debuted last year for $3.99 a month.
The quantity of Snapchat+ subscribers suggests the business is succeeding at a time when social media companies are increasingly attempting to charge consumers for particular capabilities.
In recent months:
Snapchat has launched several new features, including personalized chat backdrops, story expiration settings, unique notification noises, and a plan-giving option. Additionally, it has pledged to enable premium customers to freeze their Snap Streaks.
The firm has also concentrated on providing subscribers with generative AI features. It introduced My AI chatbot for Snapchat+ users in February. The business revealed additional safety safeguards for the AI bot earlier this month in response to concerns that the bot was publishing improper comments. Snapchat also unveiled a feature that allows users to create a backdrop using text prompts.
The business said that Snapchat+ users would later this year acquire a feature where the bot will react to them with a visual Snap—basically creating a picture based on the conversation—as it is making My AI bot available to all Snapchat users.
In order to charge users to have their profiles verified, Twitter, owned by billionaire Elon Musk, relaunched a membership service called Twitter Blue in December.
As of Sunday, according to independent researcher Travis Brown, Twitter Blue has around 539,000 subscribers.
The business, which has its headquarters in Santa Monica, California, is also trying to develop its augmented reality (AR) technology, which may improve the perception of the actual world with digital visuals.
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