Snap, the company behind Snapchat, says it has passed 30 million paid subscribers across its Snapchat+, Memories Storage and Lens+ plans. The figure, in the company's third-quarter prepared remarks published on 4 November, is up from the 25 million Snap reported in February, TechCrunch reports.
Subscriptions are now the fastest-growing part of the business. Snap's revenue rose 14% from a year earlier to $1.72 billion in the quarter, within its own guidance of $1.70 billion to $1.74 billion. Advertising revenue grew 4%, while other revenue, which is mostly subscriptions, grew 84%.
What people are paying for
Snapchat+ costs $3.99 a month and gives early and exclusive features; Snapchat+ Platinum, at $15.99, removes ads; Lens+, at $8.99, unlocks exclusive lenses and augmented-reality effects, according to TechCrunch. Memories Storage became a paid product after Snap capped free storage of saved snaps in September 2025, charging $1.99 a month for more space.
Chief executive Evan Spiegel said AI-powered features had helped Lens+ exceed the company's expectations, and that "paid subscribers still represent a small share of our monthly community", which he sees as room to grow.
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Snap made a net profit of $56 million, an improvement of $160 million on a year earlier, and adjusted EBITDA rose to $383 million. Free cash flow grew 76% to $164 million. Snap said about 93% of its extra revenue flowed through to adjusted EBITDA because its total costs grew only 1%.
Advertising remains the weak spot. Spiegel wrote that ad revenue growth "remains below our ambitions". Snap said direct-response ads, which aim at purchases and app installs, grew strongly, but brand advertising fell from a year earlier. Ads inside chats, called Sponsored Snaps, grew 56% from the previous quarter, and Promoted Places, which lets businesses advertise on Snap Map, now runs in 14 countries.
Daily active users rose to 495 million from 493 million in the second quarter, below the 499 million analysts expected, according to TechCrunch. Monthly users reached 977 million. Snap's shares fell about 12% after the results.
A new scorecard
From its first-quarter 2027 results, Snap will report global monthly active users and revenue per monthly user as its main metrics, instead of daily users. The company said it does "not intend to optimize Snapchat around daily use at the expense of long-term value for our community". It expects fourth-quarter revenue of $1.950 billion to $1.985 billion.
