Snap said Snapchat+ now has more than 7 million subscribers.
The company made the announcement while unveiling the latest generative artificial intelligence features it has added to the subscription tier of its instant messaging app, Snapchat, in a Tuesday (Dec. 12) press release.
The subscriber count has risen since the launch of that tier in July 2022 and is up from 5 million subscribers in September, Bloomberg reported Tuesday.
Snap has said in the past that it aims to raise that total to 10 million subscribers in the “medium term,” according to the report.
Snapchat+ gives subscribers early or exclusive access to features on the app, including AI tools, the report said.
It also provides the company with a new revenue stream and a way to pay for the development of technology at a time when it has been cutting back, per the report.
With 7 million subscribers paying $3.99 a month in most markets, the service would bring in more than $330 million a year, according to the report.
The latest additions to Snapchat+ enable subscribers to use AI to create images based on just a few words, “extend” images to provide the full picture after zooming in too close, and create selfies with friends with dreamlike backgrounds, according to the Snap press release.
These features are now being rolled out, and regional availability may vary, the release said.
“As with all of our features, we are committed to offering a safe, fun and privacy-centric experience on Snapchat,” the company said in the release.
It was reported Sunday (Dec. 10) that Snapchat+ had its best month ever in November, recording more than $20 million in monthly revenue for the first time and recording double-digit gains in subscription revenue in almost every market in which it has gone live.
Snapchat is also reportedly testing ad-free subscriptions in Australia. The new ad-free tier costs nearly three times as much as the standard Snapchat+ offering.
The platform is also reportedly testing a “Friends & Family Plan” to grow the adoption of its subscription program and find ways to monetize outside of ad sales.
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