The Undeniable Power of Snapchat
Last week, Snapchat announced that its users now consume 10 billion video views a day. With that many views, I’m sure you’re familiar with the popular photo and video sharing app. That number is an increase from 8 billion since February 2016 and 4 billion since April 2015. That is extremely quick and massive growth in one year. It’s not only that users are spending 25-30 minutes a day on the app, but more and more are flocking to the 5 year old platform each day.
Sixty percent of teenagers and millennials ages 13 to 34 years old use Snapchat. The numbers only begin to tell the story of how powerful Snapchat is becoming. For the first time in history, NBC sold the rights to its Olympic sporting event content. Who got the deal? You guessed it, Snapchat! Before this deal, NBC only aired Olympics sporting event content live on TV and then later via its owned channels including its website and mobile app. This deal not only speaks to the power that Snapchat has an app, but also as a media production and content sharing platform.
You can now be present at some of the top events across the world like Coachella Music & Arts Festivals and NACAR races with Snapchat’s “Live” section. Snapchat has access to exclusive events through partnerships, but more importantly users. The content is unpolished and the perspective of everyday people who are actually in the moment. Users are creating more video content at these events in the hopes one of the stories they picks shows up to millions of users. It’s a truly unique way to connect users from across the world. And that’s just one of the ways the app is doing that.
You will now find Snapchat content on some of the top social media channels like Instagram and YouTube. Snapchat users save photos and videos with filters and then post them on other platforms. The app is allowing users to not only repost content like other platforms, but actually create it and distribute it how the user wants to. Snapchat has also gotten in on the content creation game through their various channels. The app has been creating original content on a “show” for the ongoing presidential election.
Snapchat has 18 channels in its “Discover” section including Comedy Central, National Geographic, CNN, ESPN, and Food Network. These media channels are not repurposing content, but creating content directly for Snapchat users that can only be found and viewed within the app. Media companies producing shows for other platforms? Only Snapchat has the power to get all of these groups together in one place.
The company is now valued at $19 billion. That amount is sure to increase as brands continue to leverage the platform for marketing to teens and millennials. Lucky for users, Snapchat has found a way not to disrupt their feeds with ads like Facebook, Instagram, and Twitter. Paid brand content is only found in the “Discover” and “Live” sections of the app. Users have to opt into viewing those sections rather than just having the content appear in their feeds.
Only time will tell what the powerful app will do next. Let’s hope they stay true to users and don’t go down the road Facebook and Twitter have with advertisers. If they don’t, they are going to continue to dominate.