Snapchat Surpasses 25m Snapchat+ Subs and $1B Direct Revenue

Snapchat has hit a significant subscription benchmark: Snapchat+ now boasts more than 25 million subscribers worldwide. Announced on February 18, 2026, this growth has propelled Snap’s direct revenue business – non-advertising income from subscriptions and in-app purchases – to a $1 billion annualized revenue run rate (ARR).

Launched in late 2022 as an early-access program for highly engaged users, Snapchat+ has evolved into one of the fastest-growing consumer subscription services globally. It delivers quarterly subscriber increases, offering perks like exclusive features, custom app icons, priority story replies, and early access to tools. The milestone includes contributions from related offerings like Lens+ (premium AR lenses) and Memories storage plans, but Snapchat+ remains the primary driver.

Snap highlighted the achievement in its official announcement: “What started as an early-access program for our most engaged Snapchatters has quickly scaled into a meaningful business – one that now represents a strong and growing revenue stream alongside our ads business.” The company expressed gratitude to its 25 million+ subscribers for shaping Snapchat’s future.

This comes at a pivotal time for Snap. User growth has slowed in core markets like the U.S. and EU, suggesting saturation among its predominantly young audience. Retention challenges persist as users age out, limiting organic expansion. To counter this, Snap has diversified beyond advertising – its main revenue source – through innovations like Sponsored Snaps in the inbox and upcoming Specs AR glasses.