Snap gained 5 million paying customers since February 2026, driven by higher-priced options like the $15.99 ad-free Snapchat+ Platinum plan and paid Memories storage. Despite this momentum, company shares fell 12% after both advertising revenue and daily active users trailed analyst expectations. Chief Executive Evan Spiegel noted that while artificial intelligence tools like the $8.99 Lens+ tier boost paid demand, subscribers remain a small fraction of the broader audience. To remedy lagging ad growth, the company plans to focus heavily on improving performance tools for commercial partners.
Key points
Premium offerings such as Lens+ and Platinum tiers provide meaningful revenue diversifica…: Premium offerings such as Lens+ and Platinum tiers provide meaningful revenue diversification beyond Snap's original $3.99 subscription model.
Executive leadership intends to avoid maximizing daily engagement metrics if doing so thr…: Executive leadership intends to avoid maximizing daily engagement metrics if doing so threatens the platform's long-term enterprise value.
Future company initiatives will center on improving commercial advertiser tools to compen…: Future company initiatives will center on improving commercial advertiser tools to compensate for sluggish revenue growth across core promotional segments.
Sources checked by our analysis pipeline: 1
Snap has surpassed 30 million paid Snapchat+ subscribers, the company announced Wednesday in its third-quarter 2026 earnings release. The milestone marks an increase of 5 million subscribers since February, when Snap reported crossing the 25 million mark.
Launched in 2022, Snapchat+ gives subscribers access to exclusive and pre-release features for $3.99 per month. Following a successful launch, Snap introduced additional paid tiers beyond the core Snapchat+ subscription to further diversify its revenue streams. These include Lens+, a $8.99-per-month plan that unlocks exclusive Lenses and AR experiences, and Snapchat+ Platinum, a $15.99 monthly tier that offers an ad-free experience.
The milestone comes a year after Snapchat announced a controversial limit on free storage for its Memories feature and informed users it would start requiring users to pay $1.99 per month for additional storage or subscribe to Snapchat+ to retain their Memories.
“We surpassed 30 million paid subscribers across Snapchat+, Memories Storage, and Lens+,” Snap CEO Evan Spiegel said in a letter to investors. “Innovative AI-powered features have helped Lens+ exceed our expectations, demonstrating how new creative experiences can drive demand for…
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