On Wednesday, in its financial report for the third quarter of 2026, Snap announced that the number of Snapchat plus paid subscription users has exceeded 30 million. Since the company disclosed that the number of paid users had surpassed 25 million in February, this figure has increased by 5 million.

Launched in 2022, Snapchat requires subscribers to pay $3.99 per month to access exclusive and pre-release features. Following the success of this launch, Snap added additional paid tiers beyond the core Snapchat subscription in order to diversify its revenue sources. These include Lens, with a monthly fee of $8.99 that unlocks exclusive footage and the AR experience; as well as Snapchat and Platinum, which offer an ad-free experience for a monthly fee of $15.99.

This milestone appears one year after Snapchat announced restrictions on free storage for the Memories feature. At that time, the company informed users that if they wanted to retain Memories, they would need to pay $1.99 per month for additional storage or subscribe to Snapchat+.

Snap CEO Evan Spiegel stated in a letter to investors: "The total number of paid subscribers on Snapchat, Memories Storage, and Lens has exceeded 30 million. The innovative features driven by AI have helped Lens exceed our expectations, demonstrating how new creative experiences can drive demand for our paid products. Paid subscribers still account for only a small portion of our monthly active community, which means we still have room for growth through broader adoption and new premium experiences."

In terms of the company's broader financial reports, after Snap's advertising revenue and user growth failed to meet expectations, its stock price fell by 12%.

According to Snap, the daily active users this quarter were 495 million, which is higher than the 493 million of the previous quarter, but lower than the 499 million expected by analysts.

In the investors' letter, it is stated: "Historically, the ratio of daily active users to monthly active users has remained relatively stable. However, we have no intention of optimizing Snapchat for everyday use at the expense of the long-term value to our community." The letter also mentions: "A longer-term perspective is more in line with the indicators we report and is more in tune with products and security decisions that can strengthen relationships, create lasting utility, and support broader and more sustained growth in our audience."

Spiegel stated in the letter that although ad revenue growth is still below the company's targets, the company plans to prioritize improving advertiser performance and expanding the ways in which the business can reach users.