On Wednesday, Snapchat, a social media platform, revealed its paid subscription service Snapchat+ in India for INR 49 per month.
Snapchats’ large market base of over 100 million users in the region is being monetized by the service. Snapchat comes at a time when Snap Inc is trying to diversify its revenue stream and add more paying customers to its 332 million global user base.
The subscription service claims to offer a slew of exclusive features, including the ability to pin an individual as his best friend on the profile, change app icon, and a rewatch feature.
the free service will also include the recently launched Snapchat for Web, which allows a user to communicate with other users via a video call.
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“India is a key market for Snap, and investments in localizing the app experience have been critical to our growth in the region,” says Snap.
“We’re very excited to offer exclusive, experimental, and pre-release features to our Indian Snapchatter community who is eager to try our new products and features,” Snap Inc’s interim-market development lead Lakshya Malu was quoted as saying by sources.
Announcement comes more than a month after Snap Inc unveiled Snapchat+ for users in the United States, United Kingdom, and Canada for $3.99 in June 2022. In rupee terms, the service is priced upwards of INR 315 in North America, while in India it is priced at INR 49. Snap Inc reportedly saw $5 million in revenue in its first month thanks to the brand-new subscription, according to reports.
The lower price could possibly be attributed to India being the world’s largest market in terms of users for Snap and also price conscious, as the lower price is likely to be attributed to India being the largest market in terms of users for Snap.
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