Snap Inc. announced that its direct revenue business has reached a $1 billion annualized revenue run rate, supported by the growth of its global subscription community, which now includes more than 25 million members.
The company highlighted that Snapchat+, launched in late 2022, has become one of the fastest-growing consumer subscription services worldwide. The service began as an early-access program for highly engaged users and has since developed into a significant revenue stream alongside Snap’s advertising business.
“Snapchat+ isn’t just growing quickly. It’s working because it’s built around something deeply human,” the company stated in its announcement.
Snapchat currently reports over 946 million monthly active users globally and aims to reach one billion people worldwide. The company attributes the success of Snapchat+ to features that allow users to personalize their experience, such as pinning best friends, customizing chat wallpapers, or adding Bitmoji Pets. According to Snap Inc., these features add personal context and enjoyment to everyday communication on the platform.
“Customization, self-expression, and friendship continue to be at the heart of Snapchat+ engagement and retention,” according to the statement.
Beyond Snapchat+, Snap Inc. has introduced other paid offerings including Lens+, Snapchat Platinum, and Memories Storage Plans. These products are designed to give users more options for customizing their use of Snapchat.
Looking forward, Snap plans further investment in customization and community-driven features for Snapchat+. The company also recently announced Creator Subscriptions—a new product enabling fans to subscribe directly to creators for exclusive content, priority engagement, and an ad-free experience within creators’ Stories.
“We’re incredibly grateful to the 25 million Snapchatters who choose to subscribe and help shape the future of Snapchat. Their creativity, feedback, and enthusiasm continue to not only inspire what we build next but invest in an even better Snapchat,” said Snap Inc.
