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Snap’s direct revenue business has reached an annual revenue run rate of $1 billion, the company announced Wednesday. Annual revenue refers to a company’s current expected revenue rate over a full year. The social media giant says the milestone is driven by Snapchat+ offerings, which have now surpassed 25 million subscribers.
Launched in 2022, Snapchat+ It gives subscribers access to exclusive and pre-release features for $3.99 per month. Following the successful launch, Snap introduced additional paid tiers beyond the basic Snapchat+ subscription over the past year to further diversify its revenue streams.
“Snapchat+ has become one of the fastest-growing consumer subscription services globally, with the number of subscribers growing every quarter,” the company wrote in a blog post. Blog post. “What started as an early access program for our most engaged Snapchat users has quickly evolved into a meaningful business – one that now represents a strong and growing revenue stream alongside our advertising business.”
Last June, Snapchat was launched Lens +which gives users access to exclusive lenses and augmented reality experiences, along with perks at the standard Snapchat+ level, for $8.99 per month.
In early 2025, the company launched an ad-free Snapchat+ subscription tier called Platinum for $15.99 per month. In a controversial move in September, Snapchat announced plans to do so Maximum free storage for its Memories feature It launched a paid storage plan that costs $1.99 per month. Snapchat+ subscribers will get up to 250GB of storage as part of their monthly subscription, while Snapchat Platinum users will get 5TB.
Moving beyond Snapchat+, the company announced yesterday that it is Launching creator subscriptions In the alpha phase with select people in the US, users will be able to purchase subscriptions for creators, including Jeremiah Brown, Harry Jowsey and Skai Jackson. Creators can set their own monthly pricing for subscriptions, which will unlock subscriber-only content, priority for replies to a creator’s public Stories, and an ad-free experience for that creator’s Stories.
As for the future, Snap says it will continue to develop Snapchat+ with a focus on personalization and community-driven features.
Snap has proven that there is a market for social media subscriptions, and Meta competition follows suitThe company told TechCrunch last month that it would test new subscriptions that give people access to exclusive features on Instagram, Facebook, and WhatsApp.