Snap has announced that its direct revenue business has reached a $1 billion annualized revenue run rate, driven by the success of its Snapchat+ subscription service, which has surpassed 25 million subscribers.
The social media company launched Snapchat+ in 2022, offering exclusive and pre-release features for $3.99 per month. Since the initial launch, Snap has diversified its revenue streams by introducing additional paid tiers. In June 2024, the company launched Lens+ at $8.99 per month, providing users with exclusive AR and Lens experiences alongside standard Snapchat+ perks. In September 2024, Snapchat announced a cap on free storage for its Memories feature and introduced a paid storage plan costing $1.99 per month. Snapchat+ subscribers receive up to 250GB of storage, while Platinum users receive 5TB.
In early 2025, Snap introduced Snapchat+ Platinum for $15.99 per month. This tier offers an ad-free experience and 5TB of storage. The company stated that Snapchat+ has become one of the fastest-growing consumer subscription services globally, with subscriber growth occurring every quarter. Snap described the service as a meaningful business and a strong revenue stream alongside its advertising operations.
Snap is also expanding its subscription model to individual creators. The company announced the launch of creator subscriptions in alpha within the United States. Users can subscribe to creators such as Jeremiah Brown, Harry Jowsey, and Skai Jackson. Creators set their own monthly prices. Subscriptions unlock subscriber-only content, priority replies to public Stories, and an ad-free experience for that specific creator’s Stories.
Looking ahead, Snap plans to grow Snapchat+ by focusing on customization and community-driven features. The company has demonstrated a market for social media subscriptions. Rival Meta has announced plans to test similar subscription features across Instagram, Facebook, and WhatsApp.
