Snap is testing a new Snapchat + subscription service

The social networking company Snap may be getting on the pay-per-view service cart with a new offering called Snapchat +.

Rumors circulated on Twitter on Thursday about a subscription service for the disappearing photo app that would cost users around $ 5 a month and allow them to do things like fix a “best friend” at the top of the list. your messaging page. Snap spokeswoman Liz Markman confirmed to CNN Business that the company has begun early internal testing of the service, but declined to comment on features, pricing, or timing for a possible public release.

“We are excited about the potential to share unique, experimental and pre-existing features with our subscribers, and learn more about how we can best serve our community,” Markman said in a statement.

The news comes when Snap is trying to launch its business after a few strong months for the company as well as for the broader technology sector.

Since September, Snap shares have fallen more than 85 percent from an all-time high above $ 83 to just over $ 12 as of noon on Friday. During the first three months of this year, Snap recorded a net loss of about $ 360 million. Last month, Snap warned investors that its revenue and earnings for the current quarter would be lower than initially expected, and CEO Evan Spiegel warned in an internal note that the company would delay hiring, according to reports from Bloomberg and the New York Times. .

Leave a Comment

Your email address will not be published. Required fields are marked *