Snap has announced that Snapchat+ has exceeded 30 million paid subscribers as of its third-quarter 2026 earnings release, marking an increase of 5 million since February. Snapchat+ originally launched in 2022 with a $3.99 monthly fee, offering users special access to exclusive and pre-release app features. Beyond the base subscription, Snap added higher-tier plans like Lens+ at $8.99 per month, which offers unique augmented reality experiences, and Snapchat+ Platinum for $15.99 monthly, providing an ad-free experience.

This growth in paid subscribers comes about a year after Snap introduced a controversial policy capping free storage for its Memories feature. Users needed to either pay $1.99 monthly for additional storage or subscribe to Snapchat+ to maintain their saved Memories, a move that contributed to the monetization of the platform. CEO Evan Spiegel underscored the role of innovative AI-powered features in driving demand, particularly citing the popularity of Lens+ as a key factor in subscription growth.

Despite hitting the subscriber milestone, Snap's overall quarterly report revealed some challenges. The company’s shares fell 12% after missing analysts’ expectations for ad revenue and daily user growth. Snap reported 495 million daily active users, a slight increase from the previous quarter but short of the anticipated 499 million. The company emphasized its long-term focus on user engagement and community value over short-term daily activity metrics.

Going forward, Spiegel highlighted Snap’s intention to enhance advertiser performance and introduce new ways for businesses to connect with users, indicating a strategy aimed at boosting revenue from advertising while expanding premium subscription offerings. Although paid subscribers represent a small fraction of the total user base, Snap sees significant opportunity for growth by broadening adoption and innovating its paid product lineup.