Snapchat launched a paid subscription service on Wednesday in the US. Snapchat announced the paid service some weeks back and said it would be available in Canada, the United Kingdom, France, Germany, Australia, New Zealand, Saudi Arabia, and the United Arab Emirates at launch.
Last month, Snap said it would miss revenue and profit targets for the second quarter and would have to slow hiring and lower spending, sending its shares down over 40 percent in a single day. The premium service is priced at $3.99 per month as some features in the paid version include the ability to change the app’s icon, see who re-watched a story, and pin other users on chat history as a ‘BFF.’
Aside from the paid service, the social media platform has recently added a slew of new features. It unveiled a new Shared Stories feature that enables users who have already been added to a Shared Stories group to invite other Snapchatters to view and contribute to the story. In addition, Snapchat parent company Snap expanded its collaboration with ShareChat’s Moj to incorporate its AR Camera Kit into MX TakaTak. The MX TakaTak app now includes access to new camera experiences powered by Snapchat’s augmented reality (AR) technology.