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There’s a bright spot for brands in Snapchat’s gloomy earnings report

There’s a bright spot for brands in Snapchat’s gloomy earnings report
[Photo: Digitalpfade/Pixabay]

Earlier this year, Snapchat started offering creators data and analytics on metrics like unique viewers, time spent watching, audience demographics, and more. It was one of the first indicators that Snap was finally working harder to court creators and brands.

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During Snap’s earnings call Tuesday, the company’s CEO Evan Spiegel said the company would be “introducing a lot of new tools this year for creators.” Snap introduced one such product in its prepared remarks, Snap Pro for Business and Creators. The app will make it easier for creators and brands to manage their Snapchat content and advertise on the app. Previously, the platform had pushed brands to use its ads products to spread content.

“This product will be made for public entities–from public figures to local businesses to charitable causes–that want to use our platform to organically reach an audience beyond friends and family,” Snap’s chief strategy officer Imran Khan said. The product, he wrote, will make it “easier to manage a public profile, create and distribute content, understand audience insights, and, ultimately, advertise with us.”

Snap has already recruited a number of brands and creators to test-drive Snap Pro–but the jury’s still out on whether updates like this one can entice creators who’ve decamped to Instagram, or otherwise turn the company’s numbers around. In Tuesday’s Q1 earnings report, the company said it just saw its slowest-ever growth rate, shrinking revenue per user, and growing losses. The market hasn’t responded well: The company’s stock was already down more than 16% in after-hours trading.

[Image: Google]
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