Snap tops 30 million paid subscribers as shares fall after earnings

Snap said on November 4, 2026, that its paid subscription products had attracted more than 30 million subscribers. Its shares fell 12% following third-quarter results that missed estimates for advertising revenue and user growth.

CEO Evan Spiegel told investors the subscriber total covered Snapchat+, Memories Storage and Lens+. He said AI-powered features had helped Lens+ perform better than the company expected, while paying users remained a small portion of its monthly audience.

Snap reported 495 million daily active users, compared with 493 million a quarter earlier. Analysts had expected 499 million. Spiegel said advertising revenue growth was still below Snap’s target and that the company planned to focus on advertiser performance and give businesses more ways to reach users.

Snapchat+, introduced in 2022, costs $3.99 a month and provides exclusive features and early access to others. Snap later added Lens+ at $8.99 a month for exclusive Lenses and augmented-reality experiences, alongside the $15.99 monthly Snapchat+ Platinum tier, which removes ads.

The subscriber announcement follows Snapchat’s decision a year earlier to cap free Memories storage. Users were told they would need to pay $1.99 a month for extra storage or subscribe to Snapchat+ to keep their Memories.