Snapchat announces paid subscription service at $3.99 per month

Snapchat has launched a new $3.99 a month subscription service that will offer exclusive features to paying subscribers, but the same advertising experience as non-subscribers.

Subscribers will be able to access new features, including the ability to see who has rewatched their stories, pin a “best friend” to their profile and customise the apps icon.

The plus plan is intended for the “most passionate members” of Snapchat users, the company said.

READ MORE: Snap unveils raft of new AR shopping tools

The news comes after Snapchat gave a lacklustre sales outlook for the current quarter when it reported $1.06b in revenue during the first quarter of the year but a $359.6m net loss.

At the time, Snap chief financial officer Derek Anderson said the loss was due to a “$100 million year-over-year decline in other income, driven primarily by a $92 million unrealized loss on an investment.”

Snapchat+ is available in the US, UK, Canada, France, Germany, Australia, New Zealand, Saudi Arabia and the United Arab Emirates, though more countries are expected to be added in the future.

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