Snap’s direct revenue business has reached 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 social media giant says the milestone is driven by its Snapchat+ offering, 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.”
Last June, Snapchat launched Lens+, which gives users access to exclusive Lenses and AR experiences, along with the perks in the standard Snapchat+ tier, for $8.99 per month.
In early 2025, the company launched an ad-free Snapchat+ subscription tier called Platinum for $15.99 per month. And, in a controversial move in September, Snapchat announced plans to cap free storage for its Memories feature and launched a paid storage plan that costs $1.99 per month. Snapchat+ subscribers will get up to 250GB of storage as part of their monthly subscription, while Snapchat Platinum users will get 5TB.
Moving beyond Snapchat+, the company announced yesterday that it’s launching creator subscriptions in alpha with select people in the U.S. Users will be able to buy subscriptions to creators, including Jeremiah Brown, Harry Jowsey, and Skai Jackson. Creators can set their own monthly prices for subscriptions, which will unlock subscriber-only content, priority replies to a creator’s public Stories, and an ad-free experience for that creator’s Stories.
In terms of the future, Snap says it’s going to continue to grow Snapchat+ with a focus on customization and community-driven features.
Snap has proven there is a market for social media subscriptions, and rival Meta is following suit, as the company told TechCrunch last month that it was going to test new subscriptions that give people access to exclusive features on Instagram, Facebook, and WhatsApp.
