Flip Introduces $100 Million Creator Fund to Lure Influencers Amid TikTok Uncertainty
Flip launches a $100 million creator fund, offering equity to influencers, as it competes with TikTok Shop and other social commerce platforms.
Taylor Brooks
Snapchat is taking its subscription service to the next level by introducing two new features exclusively for Snapchat+ subscribers: AI-generated stickers and self-destructing Snaps. The social media company aims to attract more paying users and increase revenue through its premium service.
The AI-generated stickers feature allows subscribers in the U.S. to create and send custom stickers that match their message. This is achieved by typing in the chat bar and selecting the sticker search button, which will display an AI-generated sticker that includes the text. While Snapchat isn't the first to offer this feature – Meta and Apple have similar capabilities – it's a significant addition to its subscription service.
This new feature builds upon another Snapchat+ offering launched in 2023, which enables subscribers to create and send AI-generated images based on a text prompt. By adding custom AI-generated stickers, Snapchat is providing its paying users with another way to utilize generative AI to enhance their chat experiences.
In addition to AI-generated stickers, Snapchat+ subscribers will also gain access to "Snap Modes," a feature that allows users to send self-destructing Snaps that vanish if they aren't viewed within a set time frame. Snapchat plans to introduce more Snap Mode options in the future, although details on what these might entail are scarce.
The launch of these features comes just two days after Snap unveiled an AI text-to-image research model for mobile devices. Although the new custom AI stickers feature isn't currently powered by this model, it's possible that Snapchat may utilize it in the future.
Snapchat's focus on expanding its subscription service is a strategic move to increase revenue. As part of its Q4 2024 earnings release, Snap revealed that it now has 14 million Snapchat+ subscribers. The company's "other revenue" unit, which is primarily comprised of Snapchat+ subscription revenue, grew 131% year-over-year, with an annualized revenue run rate of over $500 million.
According to Snap CEO Evan Spiegel, the growth of Snapchat+ has been a significant contributor to the company's revenue increase. As Snapchat continues to build out its subscription service, it's likely that we'll see more innovative features and offerings aimed at attracting and retaining paying users.
The introduction of AI-generated stickers and self-destructing Snaps marks a significant milestone in Snapchat's efforts to enhance its subscription service. As the company continues to innovate and expand its offerings, it will be interesting to see how users respond and whether these features will be enough to drive further growth and adoption.
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