Snap Inc. Reports Surpassing 30 Million Paid Subscribers as AI Features Drive Lens+ Growth
Snap Inc. announced in its Q3 2026 earnings report that its paid subscriber base exceeded 30 million, up from 25 million in February. CEO Evan Spiegel cited AI-powered features driving Lens+ beyond expectations, though shares fell 12% due to missed ad revenue estimates.
US social media company Snap Inc. announced in its third-quarter 2026 earnings release that its total paid subscribers across Snapchat+, Memories Storage, and Lens+ have surpassed 30 million. This represents an increase of 5 million from the 25 million milestone reported in February.
"We surpassed 30 million paid subscribers across Snapchat+, Memories Storage, and Lens+," Snap CEO Evan Spiegel said in a letter to investors. "Innovative AI-powered features have helped Lens+ exceed our expectations, demonstrating how new creative experiences can drive demand for our paid products."
Launched in 2022 at $3.99 per month, Snapchat+ offers exclusive and pre-release features. Snap subsequently introduced additional paid tiers to diversify revenue, including Lens+ ($8.99/month) for exclusive AR experiences and Snapchat+ Platinum ($15.99/month) for an ad-free experience. Since September 2025, users have also been required to pay $1.99/month or subscribe to Snapchat+ to retain Memories beyond a capped free storage limit.
Despite strong subscription growth, Snap faced broader financial headwinds. The company reported 495 million daily active users, falling short of analysts' expectations of 499 million. Shares fell 12% after the release missed ad revenue and user growth estimates. Spiegel noted that while advertising revenue growth remains below target, the company plans to prioritize improving advertiser performance and expanding ways businesses can reach its users.