- Verizon and Snap Inc. launched a partnership to develop 5G-powered augmented reality features and experiences for people.
- The idea behind the deal is to showcase the benefits of Verizon's 5G technology through Snapchat's AR features.
- Verizon also gets access to coveted ad placements in Snap Originals while Snapchat gets reach by being preinstalled on certain 5G phones.
- Such partnerships are not uncommon in the industry. This past summer, Verizon bundled Apple Music into its umlimited plan while Spotify expanded a partnership with Samsung.
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Verizon and Snap Inc., parent company of messaging app Snapchat, announced a partnership to develop 5G-powered augmented reality features and experiences.
The idea is to showcase the benefits of Verizon's 5G technology like low latency, fast speeds and high bandwidth using Snapchat's AR applications, like Landmarkers, lenses that bring famous locations to life, and Portal Lenses, that take fans backstage in a concert.
Verizon will get access to premium ad placements and sponsorships in Snap Originals while Snap will get the chance to reach a bigger audience as Verizon will preinstall Snapchat on certain 5G phones.
"5G will change the way people live, work and play and we're partnering with leading companies like Snap Inc. to create unique experiences and new offerings," Frank Boulben, SVP of marketing & products, at Verizon Consumer Group, said in a statement. "Our strategy is to partner with the best brands to ensure our customers have exclusive access to cutting edge technology and services."
Snap's Verizon deal is the first that runs across many parts of its business. Tech, and telecom companies, and mobile phone makers have struck deals in the past. This past summer, Verizon bundled Apple Music into its umlimited plan, while Spotify expanded a partnership with Samsung.
Snap and Verizon wouldn't share the deal's finances.
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