Snap Inc on Wednesday said its subscription service Snapchat+ now has 3 million users, as the tech company aims to diversify its business.
At its Snap Partner Summit event, the company added that in the coming days, Verizon users will have the option to buy Snapchat+ subscriptions through the carrier’s subscription store called +play.
Snapchat+, which launched last year for $3.99 per month, has been a key part of the company's efforts to expand its revenue beyond digital advertising, which is struggling as some brands cut marketing budgets amid concerns about the economy.
The number of subscribers for Snapchat+ indicates the company is seeing success at a time when social media platforms are increasingly seeking to charge users for certain features.
Snapchat has added a number of new features in the past few months like custom notification sounds, story expiration controls, customizable chat wallpapers and a plan gifting option. It has also promised that it will allow paid users to freeze their Snap Streaks.
The company has additionally focused on bringing generative AI features to subscribers. In February, it launched My AI chatbot for Snapchat+ users. Following complaints about the bot posting inappropriate responses, the company announced new safety tools around the AI bot earlier this month. In the past few weeks, Snap has also introduced a feature that lets subscribers generate a background through text prompts.
As the company is making My AI bot available to all Snapchat users, it said that Snapchat+ users will later this year gain a feature where the bot will reply to them with a visual Snap — essentially generating an image based on the conversation.
Twitter, owned by billionaire Elon Musk, revamped a subscription product called Twitter Blue in December to make users pay to have their profiles verified.
Independent researcher Travis Brown estimated that Twitter Blue had about 539,000 subscribers as of Sunday.
The Santa Monica, California-based company is also working to expand its augmented reality (AR) technology, which can enhance the view of the real world with computerized images.
Last month, Snap launched an enterprise division to help other companies build AR experiences for their own apps and websites.
With the addition of Snapchat+ to Verizon’s +play store, Verizon customers will get three months of the subscription service for free when they sign up. Snap’s service is the first of its kind on +play, which largely focuses on streaming service subscriptions. The store now offers services from over 30 other partners across streaming, entertainment, lifestyle and education services.
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