Snapchat as a television channel
Video is the most juicy format for advertising companies and social networks, whose income depends almost entirely on ads. That’s why Facebook, Twitter, Google and Snapchat boost their original production and live video bets.
In recent months, Snap has signed agreements with producers such as the BBC, ESPN, Vice Media or the NFL to create vertical television shows aimed at young people, just what traditional channels do not know how to do. It is also closing deals with CBS and Fox, reports The Wall Street Journal.Snap hopes that in his popular application two or three episodes of original production will be aired before the end of the year through his “Stories”. They are small episodes of no more than five minutes in length, varied in content and designed to be enjoyed in small spare moments that do not require a search or previous accommodation such as movies or TV series.
They are a way to keep your 158 million users hooked to the application every day and the best source of income for a company that is now public capital.
Snap is very involved with the creation of the content, since the format is very different from that of the TV. Despite its agreements with the networks, the company wants original content that does not look like an advertisement for a series that can be seen on a channel. The first show of NBC was a reinterpretation of “La voz” in which users sent their “performances” through the social network with a 10-second video.
The company now seeks to expand its portfolio to dramas, news and documentaries. For it, they could touch up the interface and allow to see episodes emitted weeks ago, something impossible at the moment since they are eliminated in a few hours.
For Snap is a way to increase the time their users spend within the application and find new ways of income that justify their valuation in 25,000 million dollars . For producers it is a way to reach young people and invite them to watch the shows they broadcast on TV networks.
The content is not paid in advance, but a percentage of advertising revenue is offered. The executives of the production companies say, consulted by the WSJ, that at the moment the formula works since the shows are much cheaper to produce (between 6,000 and 45,000 dollars) and reaching young people is very important.
Snap is integrating the video with the philosophy that characterizes the vertical application. Twitter instead bet on live content and YouTube is trying to expand with several original production maneuvers that have not yet had the success you would expect. The biggest problem for Snapchat is that Facebook, again, begin to replicate the strategy and sign agreements with more and better producers to show shows in their stories.
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