Snapchat Plans To Add A “Plus” Subscription Service Amid Below Guidance Outlook

Weeks after Snap Inc. (NYSE: SNAP) announced its expected revenue and adjusted EBITDA guidance miss, it is reportedly in the works to develop a premium subscription service for its flagship app.

Called Snapchat Plus, the paid service gives users access to early features and exclusive capabilities–much like Twitter’s Blue service.

“We’re doing early internal testing of Snapchat Plus, a new subscription service for Snapchatters. We’re excited about the potential to share exclusive, experimental, and pre-release features with our subscribers, and learn more about how we can best serve our community,” said spokesperson Liz Markman in an interview with The Verge.

Among the potential features of the premium service, according to app researcher Alessandro Paluzzi, includes capability to designate a “#1 BFF”, change the app icon, display a badge on your profile, and see how many have rewatched one’s snaps.

Monthly rates are expected to land at €4.59, up to a discounted €45.99 for an annual payment.

The effort comes on the heels of the company’s announcement that it is likely to hit the revenue and adjusted EBITDA “below the low end of [its] Q2 2022 guidance range.” This grim outlook sent the shares falling 34.36%.

Snap last traded at US$12.42 on the NYSE.


Information for this briefing was found via The Verge and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

ESGold Outlines $24.3 Million NPV For Tailings Reprocessing Project

First Majestic Encounters 711 g/t Silver Equivalent Over 8.0 Metres In Ongoing Exploration At Los Gatos

Related News

Snap Shares Plummet Over 39% As CEO Warns Revenue Below Guidance Amid Grim Market Outlook, Takes SocMed Names With It

Like the ephemeral nature of its social media app Snapchat, Snap Inc. (NYSE: SNAP) saw...

Tuesday, May 24, 2022, 10:17:00 AM

Snap Falls 7% Amid Reports Of 20% Workforce Layoff, Ad Exec Leaving For Netflix

Following the expected guidance miss, Snap Inc. (NYSE: SNAP) is rumored to be considering letting...

Wednesday, August 31, 2022, 08:20:43 AM

Snap Inc. Shuts Down AR Division After Short-lived Run

Snap Inc (NYSE: SNAP) is closing its augmented reality enterprise services (ARES) division, just months...

Thursday, September 28, 2023, 04:19:00 PM

Snap Plummets Following Disappointing Forecast

Snap Inc. (NYSE: SNAP), the parent company of Snapchat, experienced a significant stock decline of...

Wednesday, July 26, 2023, 10:44:39 AM

Canaccord: Headwinds To Begin To Pressure Snap Inc Stock

On Thursday Snap Inc (NYSE: SNAP) reported its first-quarter financial results. The firm reported revenues...

Tuesday, April 26, 2022, 11:28:00 AM