- Snapchat buddies creates “MythBuster”-like content and buddies up with BBC, NY Times and Washington Post.
Discovery Communications pulled “MythBusters” last year, and Snapchat is now looking to snap it up…enter the world of content strategy.
While Discovery is looking for new talent to help relaunch its channel, Snapchat is interested in more TV-like content for its platform. It’s already partnered up with A&E and the BBC to produce Second Chance and Planet Earth, respectively and Snapchat is working with the NY Times and Washington Post as publishing arms. We expect more to come in due time.
To give some current perspective of Snapchat’s scope and size: 160 million daily users. Despite this, its platform’s content is not what it’s known for. Person-to-person messaging is its sweet-spot aka SNAP-SPOT. So, time to diversify with a new and expanded “media section”? Snapchat thinks so. Because the end goal is to provide content for advertisers to sponsor, and down the road, give users a reason to keep coming back for more.
In 2016, almost half of Snap’s revenue (43%) came from ads within their “Discover” section – this section showing “stories” from its media partners…think: the trending news section of Facebook, or ads being played while you read news articles online. Next biggest revenue maker for Snap was ads within its “Live Stories” section (27.7%).
Of course, the end end goal for Snap (among all of its competitors) is to compete in terms of the quality and quantity of media partnerships, and the TV ad dollars that these partnerships bring in with their associated content. Like we all know, important factor is unique content and for Snap, what partnerships can bring in the most eyeballs (and repeat eyeballs)
Facebook has countered this with its own moves: making videos play automatically with the sound on. In addition, Facebook is launching new TV apps, as it seeks more media deals = more digital content = more cash money.
So we’re all going to be staring at our phones all the time now. Great. I think we are doing that already.
Snap’s strategy…smart?…Revenue generating? To an extent, of course. But let’s look at the quality of media partnerships it has (and compared to its rivals- this will define its content quality, and thus how many eyeballs it will attract), and also how many active users Snap had when it first started out, compared with its rivals. Again, to see the magnitude of its initial draw to users in the marketplace.
But is Snap really doing anything unique from its competitors? Its platform is unique, sure, but establishing media partnerships for content to draw eyeballs, not so unique I’d say. Snap has to really hone in on its main strength, what drew users to it in the first place, and further strengthen that and build from there. Here comes Snapchat Spectacles to the rescue!
But it’ll be interesting to see which media partnerships Snap establishes, and what content they create for the platform vs. the likes of Twitter, Facebook and others. For the record, Snap’s already snapped up partnerships with several major broadcasters, including ABC and NBC, and others including E! and ESPN; shows include Saturday Night Live and the Tonight Show with Jimmy Fallon, The Bachelor, The Voice, The Rundown, and Game Day.
Side anecdotal note: I was chatting with a fellow passenger on a plane ride recently- she was at least a decade and a bit younger than me, and she said her and her friends don’t use Facebook, but are constantly on Snapchat. Though I haven’t verified it, this could be a wider case study of Snap’s average demographic of users- a younger audience. A potentially telling sign of what sort of content Snap and its media partners ought to think about putting up in the Snap “cloud”.