"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."
"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."
Snap's direct revenue business reached a $1 billion annualized revenue run rate driven by Snapchat+, which surpassed 25 million subscribers. Snapchat+ launched in 2022 at $3.99 per month and offers exclusive and pre-release features. Additional paid tiers introduced over the past year include Lens+ at $8.99 per month for exclusive Lenses and AR experiences, and Platinum at $15.99 per month for an ad-free experience. Snapchat introduced a paid storage plan at $1.99 per month while capping free Memories storage; Snapchat+ includes up to 250GB and Platinum includes 5TB. Creator subscriptions launched in alpha, allowing creators to set monthly prices for subscriber-only content and priority replies.
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