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Snap launched Spectacles in Europe on Friday, marking the first time the video-recording sunglasses will be available for purchase outside the US, according to TechCrunch. Snap is making Spectacles — which lets users record 10-second videos that can be uploaded to their Snapchat account — available for purchase online and in a select number of vending machines, called Snapbots, in certain countries including France, Italy, and Spain.
Snap could be launching Spectacles in Europe as a part of a larger play to eventually offer augmented reality (AR) glasses. That’s because Spectacles could break down major barriers for AR, including familiarity and social acceptance, according to CNET. If those barriers are overcome, Snap could offer a truly robust AR headset. However, given the modest performance of Spectacles in the US, it's possible they could underwhelm European audiences, too. Just 5 million snaps were created with Spectacles since the device launched in November 2016, representing a small portion of the roughly 3 billion snaps that were created daily in Q1 2017.
As aversion to advertising continues to grow and as ad-blocking adoption increases across the globe, publishers and brands are turning to immersive video — namely 360-degree video, augmented reality (AR), and virtual reality (VR) — to win back some of their lost market share.
Immersive video can provide the impactful, emotion-driven storytelling that's needed to capture the attention of consumers and cut through the saturated ad space.
Already, brands across numerous industries have seen significant success. For example, Hong Kong Airlines’ 360-degree ad was 35 times more effective than the same traditional 2D ad. Meanwhile, Lionsgate's Blair Witch VR campaign elicited a 57% voluntary replay rate. And consumers are confident in the future of immersive video – 63% of US consumers who’ve tried an immersive experience feel it’s the “next big thing” in video, according to a YuMe study.
Dylan Mortensen, senior research analyst for BI Intelligence, Business Insider's premium research service, has compiled a detailed report on immersive video that breaks down the benefits of each immersive video format and outlines the ways in which brands and publishers can implement each format into their digital strategy.
Here are some key points from the report:
- Google and Facebook continue to dominate the digital ad space. Excluding Facebook and Google, the digital industry saw a 2% ad revenue decline year-over-year in H1 2016, according to the IAB.
- Marketers are falling behind on the consumer shift to mobile. Consumers in the US spent over a third of their total media time on mobile devices in 2016, while only 17% of advertisers' digital spend went toward mobile.
- 360-degree video presents an opportunity for advertisers to reach massive audiences, while allowing viewers to engage with ads as they see fit. The format also has the potential to generate longer viewing times.
- AR blends the physical and digital worlds. The global AR market is forecast to grow at a nearly 81% compound annual growth rate (CAGR) from 2016 to 2024, according to Global Market Insights.
- VR is the most complex experience, but also the most rewarding. VR content was found to elicit higher emotional engagement and longer engagement periods than traditional 2D, according to YuMe and Nielsen. BI Intelligence predicts that global VR headset shipments will increase 359% over the next six years, from 12 million in 2017 to just over 55 million in 2022.
In full, the report:
- Highlights the rising popularity of immersive video with consumers and brands.
- Explores why immersive video advertising growth will help publishers buck the Google and Facebook digital duopoly.
- Outlines successful use cases that have propelled brands’ overall reach and retention.
- Forecasts the growth of the virtual reality market.
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