Snapchat is one of the most heavily-used apps by young, so-called millennial consumers. The photo and video sharing app’s simplistic and more-private environment than Facebook or Twitter means that it’s often seen as a real threat to its larger rivals as booming video consumption makes it more and more appealing to brands and advertisers. Now the company reportedly sees more than 10bn viewed on its platform every day, through curated Live Stories, publisher’s channels and direct messages and stories between users. It’s an increase of 150% from the 4bn consumed a year ago and is actually more than the 8bn views Facebook disclosed in November.
This increasing video consumption, as well as creation by users, means the app is becoming a more important tool in any marketer’s arsenal when trying to reach its audience mostly young 100m users. There are still limitations to Snapchat for businesses (users still need to enter a brands user name of scan a QR code to follow them), but with the company targeting USD300m in ad revenue this year it continues to experiment and open up new ways for brands and marketers to utilise the app. And video will play a primary role in that.