Snapchat+ premium subscription service continues to grow

Snap launched its premium subscription service more than a year ago and announced back in June that Snapchat+ has around 4 million subscribers. It’s not a bad number considering that the service had about 1 million subscribers just two months after launch, but it’s not great either.

Today, Snap confirmed that more than five million people are on Snapchat+, the company’s subscription tier that offers access to new features that help users customize their app experience.

According to Bloomberg, Snap’s CEO Evan Spiegel expects the premium service to reach 10 million subscribers, a “medium-term goal” that seems far away at the moment. Currently, Snapchat has around 750 million people who use Snapchat on a monthly basis, so the number of Snapchat+ subscribers might seem insignificant in comparison.

For just $4.99 per month, Snapchat+ users have access to more than 20 new features including Snap’s latest AI powered product, such as MyAI and Dreams, before they roll out widely to the rest of the Snapchatters.

It’s an interesting approach that only temporarily gatekeeps new features coming to Snapchat. If you want to be among the first to be able to use them, you have to pay. Otherwise, you’ll probably get these features soon or later.

As Snap points out, the company released extra Streak restores and expressive text sizes, but if you’re a Snapchat+ subscriber, expect regular updates to drop your way with new features and improvements that only you can use, at least for a while.