Snapchat has introduced a new premium subscription tier called Lens+, priced at $8.99 per month, offering users access to exclusive augmented reality (AR) Lenses and immersive experiences. This latest subscription builds on the existing Snapchat+ tier, which launched in 2022 and costs $3.99 per month.
According to Snapchat, Lens+ includes everything in the standard Snapchat+ plan while also unlocking hundreds of advanced AR Lenses. These Lenses allow users to play, create, and share unique Snaps, with new AR experiences being added weekly. Some of the initial offerings include exclusive AI video Lenses, a Bitmoji Game Lens, and other AR tools developed by both Snapchat and select creators.
Importantly, Snapchat clarified that previously available free Lenses will remain accessible to all users. Lens+ is focused solely on new and exclusive content.
The launch also marks a new opportunity for creators. In the coming months, Snapchat plans to allow select Lens creators to monetize exclusive Lenses, opening up an additional revenue stream. However, the company has not yet disclosed the revenue-sharing model for these monetized experiences.
This move comes as Snapchat seeks to enhance user engagement and boost revenue. As of now, Snapchat+ boasts over 14 million paid subscribers. The company attributes its recent financial growth to its subscription services. In Q1 2024, Snap reported $1.36 billion in revenue, representing a 14% year-over-year increase, driven largely by growth in subscriptions and enhancements to its advertising technology.
Snapchat is also offering a $14.99 per month Platinum Snapchat+ tier, which removes ads and bundles all the features from both Snapchat+ and Lens+. With Lens+, the company continues its push to turn cutting-edge AR into a paid offering, catering to power users and AR enthusiasts willing to pay for premium digital experiences.
