Snap Inc, the parent company of photo messaging app Snapchat, is testing a new subscription service called Snapchat+ that would give subscribers access to exclusive and pre-release features, a Snap spokesperson confirmed on Thursday.
The subscription feature, which Snap said is being tested internally, was first revealed on Twitter by a user named Alessandro Paluzzi, a mobile developer and reserve engineer according to his Twitter bio.
Snapchat+ would cost 4.59 euros for a one-month subscription or 45.99 euros for one year, according to screenshots Paluzzi posted on Twitter.
It would be the first subscription product for Snapchat, which lets users post content stories, play games and scroll through a TikTok-like feature called Spotlight.
Snapchat is the latest social platform looking to monetise its product with a special paid version of the app for users. Twitter and Telegram have also confirmed their respective paid versions. Telegram CEO Pavel Durov officially shared the details about the paid Telegram service which will offer additional features for its subscribers. Similarly, Twitter has its Blue subscription model that could be opened up to more countries in the coming months.
But unlike these two, Snapchat caters to a younger audience. So it will be interesting to see if Snap has the scope and viability to become a paid product for users without losing them to rival platforms.
(With inputs from Reuters)
