Snapchat+ subscribers hit 1M in six weeks of release; stock rises

Aug. 15, 2022 9:54 AM ETSnap Inc. (SNAP)By: Jason Aycock, SA News Editor5 Comments

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  • Snap (NYSE:SNAP) says it's hit 1M paying subscribers to its Snapchat+ service, just over six weeks since launch.
  • It's sharing the news as part of a drop of new features for subscribers to the offering, which it rolled out for $3.99 per month to give users exclusive, experimental and pre-release features.
  • Snap stock is one of the top big gainers among Communication Services stocks, up 3.1% early Monday.
  • Four new features starting today: Priority story replies make subscribers' replies more visible to "Snap Stars"; "Post View Emoji" gives subscribers the chance to find an emoji image that friends will see after viewing posts; exclusive Bitmoji backgrounds let those subscribers get more flair into their background images; and custom app icons allow users to change up the Snapchat icon on their home screen.
  • "It’s been just over six weeks since we launched Snapchat+ and we are thrilled to share there are over 1 million paying subscribers," the company says, citing internal data as of Aug. 8.

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