It’s been awhile since our last blog post dedicated to Snapchat. Snap, Inc. (the company rebranded back in 2016) has had a couple years of experience under its belt since their initial launch in 2011. From launching their IPO to a public upheaval surrounding their controversial user interface changes, the company has had its ups and downs. Though many investors and users have lost their faith (and, more importantly, loyalty) to the platform, the company still has a substantial customer base. Over 191 million users log on every day to get their fill of disappearing photos and videos, but the company has recently been trying to move away from their humble beginnings. Despite their ups and down, Snapchat remains a compelling platform that broadcasters need to pay attention to. Let’s see why.
Features on Features
As the company has grown in size, more and more features have been added to the application to grab the attention of active users. Recent additions include the ability for users to constantly share their location, creation of area sensitive stories, and more interactive face filters. The app has also built a dedicated page for paid advertisements and news articles. Their expansion into content monetization comes as a positive for many up and coming content creators.
Creating Content Developers and Attracting Companies
In an effort to push more relatable content to customers, Snap launched the Yellow program back in May. Through this new program, Snap is offering any first-class creator on the app $150,000 in seed funding as well as three months of mentorships. These efforts are an attempt to not only gain more users, but begin the company’s private content collection. Short shows, news clips, and other various video productions have started becoming the larger focus at Snap and their momentum is only beginning.
Now let’s dive into why any of these Snapchat updates matters to broadcasters or video production teams. There is a simple truth: Snapchat is where the targeted audiences spend most of their time. The app’s largest population is users under 34 years old and any marketer knows that the influence this group has on main stream media is immense. In addition, with so much money being spent on increasing content, there is now new opportunities for freelancers and video productions firms. Connecting with these younger Snapchat creators may be what helps broadcasters survive in the future. According to a Variety article by Ellis Clopton and Christi Carras, the key to growth for content creators is digital short formats. Live production is also getting it’s fair share of traffic as more accurate geo filters are increasing the number of locally shared apps. It wouldn’t be a stretch to think of this as playing a major role in live productions. Sending video straight from professional camera to individual phones during a concert may become common place.
Next Steps for Video Productions
Snap has recently allowed access for other applications and developers with the introduction of Snap Kit. These tools enable coders to take parts of Snapchat into their own applications. Image checking out a friend’s snap, and you have the ability to click on their shirt or dress to buy it for yourself. This is just one of the millions of possibilities advertisers are looking at since the recent announcement. As Snapchat grows and increases its ability to draw both content creators and brands, the need for video production will only increase. This digital space has been growing for a number of years and looks to be moving a steady pace into the future.