Snapchat+ tops 25M subscribers, driving company’s direct revenue ARR to $1B

Source: TechCrunch

Milestone Overview

Snap’s direct‑revenue business has hit a $1 billion annualized revenue run rate, the company announced on Wednesday. Annualized revenue refers to a business’s current revenue rate projected over a full year. The milestone is driven by Snapchat+, which has now surpassed 25 million subscribers.

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 over the past year to further diversify its revenue streams.

“Snapchat+ has become one of the fastest‑growing consumer subscription services globally, with subscriber growth every quarter,” the company wrote in a blog post. “What started as an early‑access program for our most engaged Snapchatters has quickly scaled into a meaningful business—one that now represents a strong and growing revenue stream alongside our ads business.”

Expanded Subscription Tiers

• Lens+ – Launched last June, this tier offers exclusive Lenses and AR experiences, plus the perks of the standard Snapchat+ tier, for $8.99 per month. (TechCrunch article)
• Snapchat Platinum – Introduced in early 2025, this ad‑free tier costs $15.99 per month.
• Paid Storage – In September, Snap announced a paid storage plan at $1.99 per month, capping free storage for Memories. Snapchat+ subscribers receive up to 250 GB of storage, while Platinum users get 5 TB. (TechCrunch article)

Creator Subscriptions

Snap announced the launch of creator subscriptions in alpha with select U.S. creators, including Jeremiah Brown, Harry Jowsey, and Skai Jackson. Creators can set their own monthly prices, unlocking subscriber‑only content, priority replies to public Stories, and an ad‑free experience for that creator’s Stories. (TechCrunch article)

Looking Ahead

Snap says it will continue to grow Snapchat+ with a focus on customization and community‑driven features.

The success of Snapchat+ demonstrates a market for social‑media subscriptions. Rival Meta is following suit, planning to test premium subscriptions that grant access to exclusive features on Instagram, Facebook, and WhatsApp. (TechCrunch article)