Snapchat Passes 30 Million Paid Subscribers

Snap said on November 4 that its paid subscriber base had topped 30 million across Snapchat+, Lens+ and paid Memories storage. That is 5 million more than the company reported in February. Snap introduced Snapchat+ in 2022, and it now offers several paid plans, including an ad-free tier and a subscription for augmented-reality effects.

Lens+ subscribers have risen nearly 600% since January, Snap said. Chief Executive Evan Spiegel credited AI-powered tools with helping the plan outperform expectations, and said new creative features can encourage users to pay. Snap did not provide a subscriber count for each individual plan.

Subscriptions helped lift Snap’s non-advertising revenue, which grew 84% from a year earlier. But the company’s broader quarterly results disappointed investors: advertising revenue and user growth fell short of analyst forecasts, and its shares dropped 12% after the earnings release.

Snap reported 495 million daily active users, up from 493 million in the prior quarter but below the 499 million analysts had expected. It has 977 million monthly users. Starting in 2027, Snap plans to focus its reporting on monthly active users rather than daily users, saying it wants to balance daily engagement with the company’s long-term prospects.

Spiegel said advertising growth remained below the company’s ambitions and that Snap would work to improve advertisers’ results and expand ways for businesses to reach users. Snap also said legal challenges and increased regulatory scrutiny of youth-related issues could affect its outlook.