What are Snapchat shows, and why should you care about them?
Snapchat shows have been out since 2016, but I've been unable to find any one article detailing exactly what they are, why Snap Inc. is going all-in on them, and how they've already generated so much revenue as one of the most unique ad vehicles in the market today.
So I decided to draft one myself - a quick, but thorough overview of what Snap Inc. believes to be the next big thing. And why they may be right.
What are Snapchat Shows?
They're quick-hit, short-form, interactive, and often portrait-style videos featured under "Discover" on the Snapchat app that cover anything and everything: the most recent eSports tournament, world news, celebrity gossip, lifestyle tips, and much, much more. These shows typically last anywhere from 30 seconds-to-five minutes.
Brands are using shows to accomplish a number of things: engage audiences, establish relevance, compliment other media, etc.
If you're not as familiar, just think of Snapchat stories as tabloids of the digital age.
Here's what they look like in the UI. You can find this screenshot and many more just by searching "Snapchat shows" on Google.
The Snapchat user won't be able to view the shows without first clicking on their headlines, so the success of this feature weighs heavily on the bright colors and design, big headlines, and relevancy (like I mentioned before...very tabloid-esque...).
These shows were implemented in 2016 and featured big hitters like NBCUniversal, ESPN, and CNN, that were looking to get creative with their broadcasting.
For example, NBCUniversal's deal included the production of original Snapchat show content for "The Voice," "The Tonight Show Starring Jimmy Fallon," "Saturday Night Live," and more. In other words, NBCUniversal used the feature to compliment their other broadcasting methods, giving viewers additional 'behind the scenes' access and more personalized content.
The feature's popular. Variety.com conducted a study during the pilot year. Roughly 50% of the survey participants said they viewed the Discover Stories daily/multiple times daily.
You'll see the most viewed Discover Stories in the graphic to the right.
Like any other social platform, most of these brands/publishers are posting original content several times throughout the day.
Why is Snap Inc. going all-in?
In short, Snap believes they're:
- redefining the consumer engagement landscape
- providing an incredible ad vehicle for other big names
These two points promise a lot to potential partners, but Snapchat can back them up.
I've pasted some key usage rate metrics below. The complete study is available at BusinessOfApps.
- 53% of users in US are under 34 years old (Source: Statista)
- 28% of Snapchat US users are 18-24 years old (Source: Statista)
- 77% of college students use Snapchat (Source: Mashable)
- Snapchat users over 25 open the app 12 times / day for 20 mins in total (Source: Venturebeat)
- Snapchat users under 25 open the app 25 times / day for 30 mins in total (Source: Venturebeat)
How can you say no to those #s?
How has this feature already generated so much revenue?
Basically, Snap is guaranteeing millions of eyeballs - in a unique way.
And despite the lack of statistical evidence supporting the feature (Snap shows don't provide nearly the metrics that OTT, traditional broadcasting, or really any other social platform does), the opportunity to uniquely and creatively engage with an audience is enough for Snap's big partners.
As long as Snapchat can guarantee viewership, companies are willing to gamble on their creativity and trust their content teams to produce work that wouldn't otherwise be available anywhere else.
For example, Snapchat's lack of metrics on user watch time, retention, or monthly users didn't prevent NBCU from investing big bucks (NBCU invested 500M as part of Snap's IPO). NBCU's daily, two-to-five minute episodes of "Stay Tuned" generated 30M views in the first year, with 60% being under 25 years old.
ESPN also invested early with plans to uniquely target the younger demo. They inked a 2 year contract with Snapchat back in 2017 to bring users a more casual, millennial focused "SportsCenter" experience.
And just today, July 31st, 2018, Snapchat announced an extended partnership with the NFL to provide unique stories, videos, and other content for every game across the country.
The moral of the story
Brands want to creatively engage with their consumers. Snap shows provide them with a unique platform to do so. Business are willing to pay big money for it.
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This feature is only a couple of years in, but it's completely reshaping the way we advertise. As a marketer, it'll be exciting to keep up with the maturity of this feature and to see how else it reshapes the industry.