Snap's Direct Revenue Hits $1B Run Rate on Snapchat+ Surge
Snapchat+ now has over 25 million paying subscribers, pushing Snap's direct revenue to a billion-dollar annualized run rate.
Snap just crossed a major milestone. The company's direct revenue business — led by its Snapchat+ subscription tier — has hit a $1 billion annualized revenue run rate.
The driving force? Snapchat+ has blown past 25 million subscribers since launching in 2022. That's a significant base of users willing to pay for premium features on a platform many had written off as an also-ran in the social wars.
Snap announced the numbers on Wednesday, signaling that its bet on subscriptions as a revenue diversification play is paying off in a big way. A billion-dollar ARR from direct revenue alone gives the company meaningful breathing room beyond its core advertising business.
For a company that's spent years fighting profitability questions, this is the kind of number that makes Wall Street pay attention.