Snap Inc. has announced that its direct revenue business, which includes products supported directly by Snapchat users, has reached an annualized revenue run rate of $1 billion. This growth is largely driven by the company’s subscription service, Snapchat+, which now counts over 25 million members worldwide.
Since its launch in late 2022, Snapchat+ has recorded subscriber increases every quarter. The service began as an early-access program for highly engaged users and has evolved into a significant source of revenue alongside Snap’s advertising business.
According to Snap, “Snapchat+ succeeds by giving our community more ways to personalize and elevate their Snapchat experience. Features that may sound simple on paper—like pinning a best friend, customizing chat wallpapers, or adding a Bitmoji Pet—are deeply meaningful in practice.” The company emphasizes that customization and self-expression are central to user engagement and retention for the subscription product.
Snapchat currently reports more than 946 million monthly active users globally and is aiming to reach one billion people worldwide.
In addition to Snapchat+, Snap has introduced other paid offerings such as Lens+, Snapchat Platinum, and Memories Storage Plans. These options give users additional ways to customize their app experience.
The company recently unveiled Creator Subscriptions, a new feature allowing fans to subscribe directly to creators for exclusive content, priority engagement, and an ad-free viewing experience within creator 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,” the company stated.
