7M Users Snap Up AI: A Snapchat+ Phenomenon

7M Users Snap Up AI: A Snapchat+ Phenomenon

The Gist

  • Rapid growth achieved. Snapchat+ hits 7 million subscribers, surpassing Instagram and Twitter.
  • Enhanced user experience. AI features significantly improve Snapchat’s functionality and appeal.
  • Significant revenue potential. Snapchat+ poised to generate $330 million annually, bolstering Snap’s finances.

Snapchat+ hit another wild milestone over the holiday break. The $3.99-per-month premium subscription reached 7 million paying users, up by 2 million since September 2023 and more than double its April total. It now dwarfs Instagram and Twitter’s premium offerings, which have struggled to move beyond 1 million subscribers. And that’s perhaps because Snapchat+ is not a social media subscription at all. 

Snapchat+ Launches AI-Packed $3.99 Plan

For the $3.99, Snapchat offers users a slew of generative AI features, not simply status markers like blue checks. Snapchat+ subscribers get an AI image generator similar to Dall-E, an AI image extender that expands pictures based on what the tech thinks is out of frame, special functionality in Snapchat’s GPT-4-powered chatbot called My AI, and a “Dreams” tool that uses selfies to create images of users in fantasy settings like alternate universes or movie posters.

A Snapchat+ subscription logo is illuminated in a close up of a smartphone screen in piece a bout AI features in Snapchat+.
For the $3.99, Snapchat offers users a slew of generative AI features, not simply status markers like blue checks. Koshiro on Adobe Stock Photos

Snapchat+, in other words, is a generative AI product, and a hit at that. And as the first breakout in the genre since ChatGPT, its success indicates that generative AI’s near-term future may be a bit different than many anticipated.

Related Article: Why Snapchat’s Product Is Booming

Snapchat+ Boosts App With AI Enhancements

As opposed to a brand new experience, Snapchat+ is a collection of AI features bolted onto an existing app. You don’t go to Snapchat to use the AI features alone, they instead enhance everything you do there. The AI helps you send more vibrant pictures to friends, post more imaginative scenes to your story, and chat with a fast (and smart) AI bot as you wait for your friends to message back. It does not fundamentally transform the Snapchat experience, and yet it’s working. Snap tells me its users have sent 20 billion messages with My AI so far, including with a limited version that is now free to everyone.

Source link