None of the new Snapchat Features is hugely compelling - they’re not ‘game-changing’ type features that will see mass adoption. But they may appeal to a subset of the most passionate Snap users, and if Snap only signs up, say, 1% of its active user base, that would still equate to an
Though even that, based on the take-up of similar options in other apps, could be a stretch.
The program is very similar to Twitter’s ‘Twitter Blue’ add-on package, which enables Twitter users to pay $2.99 per month for access to similar tools.
But Twitter Blue take-up, thus far, has been slow. In its most recent performance update, Twitter reported that its revenue from subscriptions and other non-advertising sources totaled $94 million in Q4 21, which was actually a decrease of 31% for this element, year-over-year. That suggests Twitter Blue isn’t really gaining any traction at all, while Twitter CEO Parag Agrawal has also said that Twitter has not hit ‘intermediate milestones that enable confidence’ with its new revenue and growth projects, like Twitter Blue.
Will Snapchat+ fare any better?
It’s obviously impossible to predict – and there is something to be said for the connection that Snapchat users feel to the app, which they use as a key connector with their closest friends.
That enhanced alignment could lead to more paying users – and again, Snap only needs a small percentage of people to take it up to make it a significantly profitable options
And Snap has repeatedly shown that it understands its audience better than other apps.
It’ll take some time, but maybe, this could be a valuable addition for Snap, and its users.
Snapchat+ will initially be made available to users in the US, Canada, the UK, France, Germany, Australia, New Zealand, Saudi Arabia, and the United Arab Emirates. Snapchat says that it will look to further expand access over time.
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