Snap's Transforming Into a Media Company
Snap (NYSE: SNAP) recently debuted several new Snap Originals at Advertising Week's New York offices. Originals are custom-made for the Snapchat platform with full-screen vertical video and lots of highly visual components like graphic overlays and quick cuts. It's a style that might look out of place anywhere else.
Snap's new slate of originals comes less than six months after the company announced its last round during its first-quarter earnings call. CEO Evan Spiegel also disclosed there are over "450 premium content channels worldwide" during that call. And the company is also reportedly interested in developing a dedicated news section of the app with exclusive content from various news outlets.
Snap's continued investments in Originals and media partnerships is a good indicator that the efforts are working. Both management and marketers have mentioned the success of Snap Commercials, its six-second non-skippable ad format that complements its more premium content. Management said revenue from Commercials grew 60% sequentially in the second quarter.
Source Fool.com