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Snapchat+ now has over 16 million subscribers

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CEO has said Snap is currently in a 'crucible moment'

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Snap seeks to drive subscription revenue

By Jaspreet Singh

Oct 28 (Reuters) - Snap is rolling out new

personalization and customization features for its

subscription-based social media platform Snapchat+, aiming to

boost retention among its paying user base in an intensely

competitive market.

The updates, which include expanding its AI-powered pet

avatars Bitmoji Pets, collaborative and group chat wallpapers,

add to the existing customization features of Snapchat+, the

company exclusively told Reuters on Tuesday.

Squeezed between dominant platforms, such as TikTok and

Meta-owned Instagram, in a crowded social media landscape, Snap

is counting on new personalized features to deepen user

engagement and attract paying subscribers.

CEO Evan Spiegel has said Snap is in a "crucible moment,"

and aims to reaccelerate revenue growth and improve gross

margins. In August, the company stumbled to its slowest

quarterly revenue growth in over a year.

Spiegel is aiming to boost revenue by expanding Snapchat+

with premium features and has a target to make direct revenue "a

durable multi-billion-dollar growth driver for Snap."

Snapchat+ has topped 16 million subscribers, more than

doubling since early 2024, with over half of its members aged 21

or older, the company said.

Internal data shared with Reuters shows Snapchat+

subscribers who utilize customization features, such as custom

app icons and personalized chat wallpapers, have retention rates

more than 10 percentage points higher than other users.

The company said that features centered on friendship and

self-expression are especially popular, with nearly 80% of

Snapchat+ subscribers having set a custom wallpaper for at least

one chat with a friend.

"Our strategy is to improve what's working and really double

down there, while also exploring new opportunities," Snapchat+

product lead Swetha Dhamodharan said.

Among the new features, subscribers will soon be able to

name their Bitmoji Pet and display it on their Snapchat profile.

The Bitmoji Pets, which are exclusive to Snapchat+, already

appear alongside users' Bitmoji on the app's Snap Map feature -

a map showing friends' location - and within individual chats.

Snap's Bitmoji feature allows users to create their

personalized digital avatar or emoji.

Another update is Wallpaper Remixing, which allows both

participants in a one-on-one chat to customize their shared chat

wallpaper. Previously, only one person could control it.

Snap said custom wallpapers are being extended to group

chats, enabling friend groups to design a collective wallpaper

that aligns with their group's identity.

The features follow Snap's announcement to charge users who

store over 5 gigabytes in its Memories storage, a photo and

video archive feature launched in 2016.