One of Snapchat’s revenue streams used to come from cute and cool lenses that Snapchatters can use to create cool pictures and animated images. Users could pay a small fee, usually $0.99 for cool lenses, but now the lens store is closing it’s doors. However, Snapchat will still have lenses available for use, but there will only be 10 available per day, and instead of coming from users the revenue will come from sponsored lenses. People who have already bought lenses will still be able to access them.
Snapchat does plan to offer some of it’s most popular lenses to their users, but the lineup of lenses will change every day, so it will be hit or miss. If there’s one you have in mind that you didn’t buy before, you’ll just have to keep looking at the available lenses every day until the one you want comes up.
They aren’t closing the lens store because it wasn’t successful – it was very successful. But Snapchat knows that in order to succeed they are going to need to get their ad game in gear and turn up the revenue from ads and sponsored lenses. It’s reported that Snapchat is working on making their own advertising platform to help businesses and brands capitalize on the widely used social network. Snapchat has struggled to find revenue streams but it seems that they are finally figuring out where they can find a bit of revenue and focusing their development efforts on that.
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