The key facts

  • Snap surpassed 30 million paid subscribers on Snapchat+, Memories Storage and Lens+
  • Since February 2026, when 25 million was announced, 5 million subscribers have been added
  • Snap shares fell 12%: ad revenue and user growth fell short of analysts' expectations

A new milestone for paid subscriptions

Snap reported in its third-quarter 2026 earnings that the number of paid subscribers has exceeded 30 million — the figure combines subscriptions to Snapchat+, Memories Storage and Lens+. TechCrunch reports this citing the company's report. In February 2026, the company reported crossing the 25 million mark, meaning 5 million paying users were added over eight months.

How the subscription system works

Snapchat+ was launched in 2022 at $3.99 per month and offers access to exclusive and early features. After a successful start, Snap added more expensive tiers: Lens+ at $8.99 per month with exclusive lenses and AR effects, as well as Snapchat+ Platinum at $15.99 per month without ads.

The role of paid Memories storage

The milestone was reached roughly a year after Snapchat announced a controversial limit on free storage for the Memories feature: users were asked to pay $1.99 per month for extra space or sign up for Snapchat+ to keep their archives. This decision became one element of the monetization strategy, alongside the additional tiers.

What the CEO said and why the stock fell

“We surpassed 30 million paid subscribers across Snapchat+, Memories Storage and Lens+,” said Snap CEO Evan Spiegel in a letter to investors, adding that AI-powered features helped Lens+ exceed expectations, and that paying subscribers still make up only a small share of the monthly audience, leaving room for growth.

Paid subscriptions grow, but ad revenue lags behind

Despite the subscription record, Snap's shares fell 12% after the report was published: the company failed to meet analysts' expectations on both advertising revenue and audience growth. Daily active users stood at 495 million, up from 493 million in the previous quarter, while analysts had expected 499 million. In its letter to investors, Snap explained that it does not intend to optimize the service for daily use at the expense of long-term value, and Spiegel acknowledged that advertising revenue growth remains below target: priorities named were improving performance for advertisers and expanding ways to reach users.