Snapchat surpasses 30M paid subscribers

Snapchat has achieved a significant milestone by surpassing 30 million paid subscribers, with the company announcing the news in its third-quarter 2026 earnings release on Wednesday. This marks a 5 million increase since February, when Snapchat crossed the 25 million mark. Launched in 2022, the Snapchat+ subscription offers exclusive and pre-release features for $3.99 per month.

Following its successful launch, Snap introduced additional paid tiers, such as Lens+ for $8.99 per month and Snapchat+ Platinum for $15.99 per month, further diversifying its revenue streams. The milestone comes a year after Snapchat addressed concerns by eliminating the limit on free storage for its Memories feature and requiring users to pay $1.99 monthly for additional storage or subscribe to Snapchat+ to retain their memories.

Evan Spiegel, Snap CEO, expressed excitement in a letter to investors, stating that the company has surpassed 30 million paid subscribers across Snapchat+, Memories Storage, and Lens+. He highlighted how innovative AI-powered features have exceeded expectations, driving demand for paid products. While paid subscribers still represent a small share of the monthly community, Spiegel acknowledged the company's potential for growth through broader adoption and new premium experiences.

However, Snap's broader earnings release saw its shares fall by 12% after missing ad revenue and user growth estimates. The company reported 495 million daily active users for the quarter, slightly below the 499 million expected by analysts. Spiegel emphasized that while advertising revenue growth remains below expectations, the company plans to focus on improving advertiser performance and expanding ways businesses can reach its users.