Snapchat’s latest feature has the potential to send its parent company’s stock (SNAP) soaring next quarter.
The self-proclaimed camera company launched Custom Lenses today. The new tool lets users create customizable augmented reality lenses for as little as $10.
When users go to the app’s settings, they can create an AR mask by choosing overlays, that include dog ears, emojis, and newly-released font styles. After that, Snapchatters choose their time window and create a geofence for how long and where the Lenses cover.
The highest price a user can be charged is $999.99. According to TechCrunch, Snapchat aimed to make the pricing “both affordable enough for the masses so custom lenses generate revenue, and to deter spam and flippant use of the platform.” Users should also submit their lenses at least three hours before the start time to be reviewed by Snapchat.
Snap also says companies will not be reviewed if they submit a lens through the user submission process.
The Create Your Own Lens feature is now available to iOS mobile users and on desktop in the U.S. Android users and Snapchatters worldwide will have to wait a little longer.
The move comes after Snap announced its first-ever earnings beat. The launch of custom lenses has the potential to diversify its earnings and help Snap stand apart from the competition. Both Facebook and Facebook’s own Instagram have successfully copied Snapchat’s ‘Stories’ feature. SNAP reported Tuesday after the bell that its daily active users had grown to 8.9 million in its fourth quarter, after struggling for many months to grow its user base.
