Since its early days as a messaging app, Snapchat has evolved into a dynamic and engaging platform. The number of media partners creating daily content has steadily increased. The next step for Snap: making a push into TV territory. This exclusive white paper features a selection of original Snapchat shows and channels. Download the white paper and discover why Snapchat shows might represent the next generation of mobile TV.
Snapchat has recently generated a wave of headlines due to parent company Snap’s $25 billion IPO in early March, but also because its functions are notoriously and successfully copied, especially by Facebook. The company is obviously doing something right and is considered an innovator and trendsetting pioneer in the realm of social media platforms.
Snapchat started out as a messaging app primarily used by teens to send photos that would disappear after 10 seconds (and it quickly had a reputation as a sexting app). In the almost six years since its launch, however, Snapchat has continuously expanded beyond photos and videos and evolved into a dynamic and engaging platform that continues to grow in popularity – both among its users and brands. When going public, Snap provided data about its financials and users. According to the company, Snapchat has 158 million daily active users, who open the app on average 18 times a day and spend between 25 and 30 minutes in the app every day. In terms of revenue, Snap generated about $404 million in 2016. In comparison to Facebook’s enormous 1.23 billion daily active users, Snapchat’s user base is relatively small, but still the company is finding ways to get a lot of money out of them.
The app is especially embraced by the Millennial and Gen Z audience, which is a huge draw for big brands and buyers who want to reach that generation. Today, the app covers three use cases: private messaging, broadcasting photos and videos (“Stories”), and consuming professional content from media outlets on Discover. Since Snapchat launched the Discover feature in January 2015, the number of media partners creating daily magazine content for the platform has grown from 12 to more than 40. For most Discover partners, the channels are profitable and audience size has been steadily increasing. Hearst-owned Cosmopolitan, for example, saw so much success in viewership and revenue that they launched Sweet, a second Discover channel.
The next step for Snap: becoming a true media powerhouse and making a push into TV territory by filling the platform with original video programming. An important part of this ambitious move are Snap’s partnerships with producers and networks. By now, almost every major media company has deals with Snap to develop content exclusively for Snapchat. Among them are NBCUniversal (which invested a whopping $500 million in the company), but also Viacom, Discovery Communications, A+E Networks, Turner, BBC Worldwide, Disney-ABC Television Group, Vice Media and MGM Television, with certainly more to follow. They all create, or begin to create, mobile content and formats that are integrated into and distributed via Snapchat Shows. Not only Snap itself, but also a number of media experts and insiders already expect Snapchat to become a leading destination for premium mobile video content that introduces us to a new kind of television.
In the following white paper, we put together a selection of original Snapchat shows and channels by broadcasters that resulted from Snap’s growing array of media/TV partnerships and represent the new generation of mobile TV. Shows featured include Snapchat-exclusive spinoffs of NBC’s “The Voice”, “Saturday Night Live”, and “The Tonight Show Starring Jimmy Fallon”, a “The Bachelor” after-show by Disney/ABC, Viacom’s range of Snapchat series, an unscripted reality series by A&E Networks, and more. As the millennial generation gradually shifts its attention from TV to mobile, Snapchat offers all these TV companies the ability to reach and engage the young demographic again.
Download the “Snapchat Originals – Exclusive White Paper” white paper here.
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