Snap launches paid version of Snapchat app

Social media firms are under pressure as companies cut back on ad budgets in response to rising costs and weakening consumer spending

Snap Inc on Wednesday launched a paid version of the Snapchat app in the U.S., priced at $3.99 a month, and a few other markets, in a major step away from a revenue model dependent mostly on advertising, Qazet.az reports.

Snap, which had teased the subscription version, Snapchat+, earlier this month, said it would be available in Canada, the United Kingdom, France, Germany, Australia, New Zealand, Saudi Arabia and the United Arab Emirates at launch.