● Covered by 2 sources · 2 reportsLow impact2 neutral
Snapchat+ Reaches 30 Million Paid Subscribers Amidst Missed Revenue and User Growth
Key points
- Snapchat+ paid subscribers reached over 30 million.
- This is a 5 million increase since February's 25 million mark.
- Snap's shares fell 12% due to missed ad revenue and user growth.
- Daily active users reached 495 million, below 499 million expectation.
- Snap's non-advertising revenue grew 84% year-over-year.
- Lens+ grew nearly 600% since January 2026.
Paid Subscriber Growth
Snap announced it has surpassed 30 million paid subscribers across its premium offerings, including Snapchat+, Memories Storage, and Lens+. This represents a 5 million subscriber increase since February, when the company reported 25 million paid subscribers. Snapchat+, launched in 2022, provides exclusive features for $3.99 per month. Additional tiers like Lens+ ($8.99/month for AR experiences) and Snapchat+ Platinum ($15.99/month for an ad-free experience) have been introduced to diversify revenue.
Context of Paid Features
The growth in paid subscribers follows Snapchat's 2025 decision to limit free storage for its Memories feature, requiring users to pay $1.99 per month for additional storage or subscribe to Snapchat+. CEO Evan Spiegel noted that AI-powered features in Lens+ have exceeded expectations, indicating demand for new creative experiences can drive paid product adoption. Spiegel also stated that paid subscribers still represent a small portion of the monthly community, suggesting room for further growth.
Financial Performance and User Engagement
Despite the subscriber milestone, Snap's shares dropped 12% following its Q3 2026 earnings release, as the company missed analyst estimates for ad revenue and user growth. Snap reported 495 million daily active users, an increase from 493 million in the previous quarter, but below the anticipated 499 million. The company indicated it would not optimize for daily use at the expense of long-term value, aiming for a longer-term horizon that aligns metrics with product and safety decisions.
Advertising Revenue Focus
Evan Spiegel acknowledged that advertising revenue growth remains below Snap's targets. The company plans to prioritize improving advertiser performance and expanding methods for businesses to reach its user base. This strategy aims to strengthen relationships and support broader audience growth.
Updates
- Snap's non-advertising revenue grew 84% year-over-year.
- Lens+ grew nearly 600% since January 2026.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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How outlets covered it
Snap announced it has surpassed 30 million paid subscribers across its various subscription offerings, including Snapchat+ and its ad-free Platinum tier. This milestone contributed to an 84% growth in non-advertising revenue year-over-year, with AI-powered features like Lens+ showing significant growth.
Snapchat has exceeded 30 million paid subscribers across its Snapchat+, Memories Storage, and Lens+ offerings, an increase of 5 million since February. This milestone was announced in Snap's Q3 2026 earnings release, which also reported a 12% drop in shares due to missed ad revenue and daily active user growth estimates.