{"id":317434,"date":"2022-08-15T15:23:08","date_gmt":"2022-08-15T15:23:08","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=352333"},"modified":"2022-08-15T15:23:08","modified_gmt":"2022-08-15T15:23:08","slug":"snap-hits-1m-subscribers-for-paid-service","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/2022\/08\/15\/snap-hits-1m-subscribers-for-paid-service\/","title":{"rendered":"Snap hits 1M subscribers for paid service"},"content":{"rendered":"

<\/p>\n

\tSocial media company Snap revealed more than 1 million subscribers have signed up to its Snapchat+ premium service six weeks after its launch as part of a push to generate new revenue following recent financial struggles.<\/p>\n

The company announced it crossed the 1 million mark in a blog outlining new features, in addition to announcing it had made the service available in 25 countries including the UK, India and Saudi Arabia.<\/p>\n

Snap launched Snapchat+ in June in the US for $3.99 a month and it now offers 11 features not available to users of the basic social media platform.<\/p>\n

The launch of Snapchat+ came shortly before the company reported poor Q2 earnings which caused a drop in its share price of 25 per cent, fitting a wider trend in which social media companies experienced weaker advertising demand.<\/p>\n

Snap issued a filing in May warning it had lowered its guidance [1] for Q2, citing deteriorating macroeconomic conditions including inflation, interest rate issues, supply chain shortages and platform policy changes, among others.<\/p>\n

Social media rival Twitter has also launched a subscription product,\u00a0Twitter Blue [2], while Meta Platforms\u2019 services Facebook and Instagram have yet to follow.<\/p>\n

Additional features launched on Snapchat+ include new app icon designs, ability to have greater exposure to celebrities and allowing users to access the service on desktops.<\/p>\n

[1] https:\/\/www.mobileworldlive.com\/apps\/news-apps\/snap-slashes-forecast-on-tough-conditions\/
\n[2] https:\/\/www.mobileworldlive.com\/featured-content\/apps-home-banner\/twitter-launches-blue\/<\/p>\n\n

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Social media company Snap revealed more than 1 million subscribers have signed up to its …<\/p>\n

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