Snap has surpassed 30 million paid subscribers across Snapchat+, Memories Storage, and Lens+, adding approximately 5 million subscribers since February 2026. The milestone, announced alongside the company’s third-quarter financial results on November 4, 2026, reflects continued growth in its subscription business despite weaker-than-expected advertising revenue and daily user growth.
According to Snap’s third-quarter earnings report, paid subscriptions remain a relatively small portion of Snapchat’s overall user base. CEO Evan Spiegel said the company intends to increase adoption by introducing additional premium features and expanding its existing subscription offerings.
Snapchat+ Expands With New Subscription Tiers
Launched in 2022, Snapchat+ provides access to exclusive features, early product releases, and additional customization options for $3.99 per month. The service surpassed 25 million subscribers in February 2026, supported by growing demand for premium features.
Snap subsequently introduced additional subscription options, including Lens+, which costs $8.99 per month and provides access to exclusive augmented reality Lenses and AI-powered creative experiences. Snapchat+ Platinum, priced at $15.99 per month, offers an advertising-free experience.
Spiegel said AI-powered features have contributed to stronger-than-expected demand for Lens+, highlighting the company’s efforts to develop new paid experiences.
The subscription milestone also follows changes to Snapchat’s Memories storage service. In September 2025, Snap introduced limits on free storage and announced that users requiring additional capacity would need to purchase storage plans starting at $1.99 per month or subscribe to eligible Snapchat+ packages.
Snap Misses Advertising and User Growth Expectations
Despite subscription growth, Snap’s shares declined approximately 12% following its third-quarter earnings announcement. Investors reacted to advertising revenue and user growth figures that fell below analysts’ expectations.
Snap reported 495 million daily active users during the quarter, increasing from 493 million in the previous quarter. However, the figure missed analysts’ forecast of approximately 499 million daily active users.
The company acknowledged that advertising revenue growth remained below its internal targets. Spiegel said Snap would focus on improving advertising performance and introducing additional ways for businesses to reach Snapchat users.
Snap Adjusts Its Approach to User Engagement
In its investor letter, Snap said it would avoid prioritizing daily engagement metrics at the expense of long-term user value. The company explained that daily engagement has historically remained relatively consistent as a proportion of monthly engagement.
Snap intends to place greater emphasis on broader audience growth, product usefulness, and user safety rather than maximizing daily application usage. The company said this approach would better align its performance measurements with longer-term product development priorities.
Spiegel also identified paid subscriptions as an opportunity for additional revenue growth, noting that Snapchat’s premium services have reached only a small proportion of its total monthly users.
Featured image credits: Wikimedia Commons
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