Will WhatsApp users soon start paying for the service, just like Snap? Snapchat App has just launched a paid version of the Snapchat app in the U.S., Canada and some other key markets around the world. It is priced at $3.99 a month (about N2,500).
As the major social media channels pursue growth and additional advertising revenue, WhatsApp 2 billion customers around the world and 90 million in Nigeria are wondering if WhatsApp is next.
Facebook, Twitter, Snapchat and all the other social media firms are under pressure as companies cut back on ad budgets in response to rising costs and weakening consumer spending. The value of Snap dropped by 40% in a single day when the company announced lower revenues and profit targets.
Last month, Snap said it would miss revenue and profit targets for the second quarter and would have to slow hiring and lower spending, sending its shares down over 40% in a single day. read more.
Features in the new Snapchat paid version include the ability to change the app’s icon, see who re-watched a story and pin other users on chat history as a “BFF”.
WhatsApp paid version coming soon
WhatsApp is reportedly also working on a paid subscription for Business users. It recently introduced multi-device support, a much-awaited feature that has been available on its rival app Telegram for a long time now. WhatsApp Business has become popular not only for businesses but also for users with two SIM cards who want to use WhatsApp on both their phones. Businesses have been able to use WhatsApp to connect with their customers, answer queries and take orders.
WhatsApp is looking to introduce a paid subscription for WhatsApp Business. The paid subscription will allow WhatsApp Business users to connect up to 10 devices to a single WhatsApp account, making it easier for businesses to connect with their customers. Multiple employees will be then able to access the same account on their phones.
Public relations and advertising agencies who use the WhatsApp platform for various marketing campaigns are watching the development with keen interest.
For personal users, there is no need to panic. The WhatsApp messaging application will continue to be free. 100 billion messages are exchanged on WhatsApp daily. Nigeria’s 90 million WhatsApp users can breathe a sigh of relief – for now.