Snap’s direct revenue business has reached a one billion dollar annualized revenue run rate. Annualized revenue refers to a business’s current revenue rate projected over a full year. The social media company says this 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 subscription over the past year to further diversify its revenue streams.
The company stated that Snapchat+ has become one of the fastest-growing consumer subscription services globally, with subscriber growth every quarter. What started as an early-access program for its most engaged users has quickly scaled into a meaningful business that now represents a strong and growing revenue stream alongside its 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. Then, in a controversial move in September, Snapchat announced plans to cap free storage for its Memories feature and launched a paid storage plan costing $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 it is launching creator subscriptions in alpha with select people in the United States. Users will be able to buy subscriptions to creators, who can set their own monthly prices. These subscriptions will unlock subscriber-only content, priority replies to a creator’s public Stories, and an ad-free experience for that creator’s Stories.
Looking ahead, Snap says it will 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. Meta stated last month that it will test new subscriptions giving people access to exclusive features on Instagram, Facebook, and WhatsApp.