The Explode, Explode On Wednesday (29) launched a paid version of the application snap chat In the United States and some other markets.
The move is a major step for the company to move away from a revenue model that relies primarily on advertising. Social media is under pressure as companies have been forced to cut advertising spending in response to rising costs and declining consumer spending.
Snap, which announced the subscription version, Snapchat +, earlier this month said the feature will be available in Canada, the United Kingdom, France, Germany, Australia, New Zealand, Saudi Arabia and the United Arab Emirates.
Initial features of the paid version include the ability to change the app’s icon, see who has re-viewed a “Story” and pin more users to their chat history as “BFF,” said Snap’s senior vice president of products. , Jacob Andrew, to technology news site The Verge.
Last month, Snap revealed that it is expected to miss its second-quarter revenue and earnings targets, slow hiring and cut spending. At the time, the announcements caused the company’s shares to drop more than 40% in a single day.
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