Snap officially topped 30 million paying Snapchat+ subscribers, unveiling the major milestone on Wednesday during its third-quarter 2026 financial report. This new figure reflects a 5 million user boost since February, when the social media platform originally celebrated reaching 25 million subscribers.
First rolled out in 2022, the base Snapchat+ tier grants members early and exclusive tools for $3.99 each month. Building on its early momentum, Snap expanded its paid offerings into higher pricing tiers to diversify income. The lineup now features Lens+ at $8.99 monthly for premium AR filters and creative tools, alongside a top-tier Snapchat+ Platinum option priced at $15.99 a month for a completely ad-free feed.
This subscriber surge lands roughly one year after the company sparked widespread user backlash by capping free storage within its Memories feature, requiring members to either pay $1.99 per month for extra cloud space or upgrade to a Snapchat+ subscription to save their media.
In his quarterly note to shareholders, Snap Chief Executive Officer Evan Spiegel highlighted that total paid memberships across Snapchat+, Memories Storage, and Lens+ have now passed the 30 million threshold. He noted that advanced AI features powered Lens+ beyond initial internal forecasts, proving that new digital tools can effectively drive premium sales. Spiegel added that because paid accounts currently make up a small fraction of overall monthly users, the platform maintains significant headroom to expand through fresh feature launches and wider global adoption.
Despite the subscription growth, Snap shares tumbled 12% in post-earning trades after failing to hit Wall Street forecasts for advertising revenue and overall user acquisition. The platform logged 495 million daily active users for the quarter, rising slightly from 493 million in Q2 but trailing the 499 million projected by financial analysts.
Addressing the engagement gap in the investor letter, the company explained that while daily usage historically tracks closely with monthly metrics, Snap avoids chasing short-term daily activity at the cost of long-term community value. The leadership team emphasized that focusing on sustainable growth better aligns its metrics with product safety and meaningful connection-building. Spiegel acknowledged that advertising revenues remain below internal goals, confirming that the company’s immediate focus will center on maximizing advertiser ROI and opening new commercial channels across the app.
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