Snapchat+ to offer a premium version to the South Asian nation for 62 cents a month; it aims to boost its client base by attempting to monetize more than 100 million users.
Snap introduced the premium version of Snapchat+, its social networking service in India on Wednesday, bringing its exclusive and experimental features offering to the South Asian nation for 62 cents a month. The social media app aims to boost its client base by attempting to monetize more than 100 million users.
The subscription service, priced in India at 49 Indian rupees, comes after Snap introduced the $4 subscription offering in the United States, the United Kingdom, and Canada, among a few other prominent markets, in late June.
Snapchat has expanded impressively in the South Asian market in the last two years, after lagging for several years in India, the largest market by users for Google and Facebook. According to market intelligence firm Sensor Tower, the app had more than 105 million monthly active users in India last month, up from approximately 25 million two years ago. (The information was provided to TechCrunch by an industry executive.)
“India is an important market for Snap, and investments in localizing the app experience has been key to our growth in the region,” said Lakshya Malu, Interim Market Development Lead, Snap, in a statement.
A Snapchat+ subscription grants users access to a number of additional features, including the option to pin someone as their best friend on their profile, modify the app icon, and a replay indicator that shows how many people are rewatching stories. Users may now use Snapchat+ to track Ghost Trails on Snap Map to follow the general direction of friends who have agreed to reveal their location.
According to Sensor Tower, in just over a month after Snapchat+’s launch in many markets, the product has helped the firm grow its income by more than $5 million.
Snap joins a long list of companies, including Apple, Spotify, Netflix, and Google, in offering premium products in India for a fraction of the worldwide cost. Despite the fact that India is a key overseas market for technology and entertainment companies, very few people prefer to pay for services in the world’s second-largest internet market.
Snap’s success in India might be critical. Last month, the company, which serves 347 million users globally, reported poor second-quarter performance and announced plans to slow recruiting.