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Snapchat is developing a product that will make Snapchat Stories available on third-party platforms outside of the mobile app for the first time, Cheddar reports.
The product, called “Stories Everywhere,” is in early stages of development and may include a feature that lets Snapchat users share videos on other platforms. Snapchat is also considering giving other apps access to Our Stories, which are curated collections of public user snaps.
Snapchat looks to develop Stories Everywhere for three key reasons:
- It can lure new users by freeing its wealth of user-generated content normally retained in-app. Over 3.5 billion snaps are created daily, and Snapchat indexesmillions of Stories per day for its search and Snap Map features. This shows Snapchat has a significant content offering that could appeal to a wide-ranging audience. Non-Snapchat users exposed to Stories Everywhere may be enticed to sign up to view more Stories that align with their interests — this could help Snapchat reignite slowing user growth.
- It improves discoverability of the app’s heavy users, namely influencers. Stories Everywhere provides the possibility for Snapchat influencers to have their content seen beyond the app’s 178 million daily users. This will encourage content creation and could also attract new influencers to Snapchat. The company is courting influencers with its major app redesign, which also increases discoverability on the platform. Attracting influencers would be a boon for Snapchat, as these popular users could bring their large and loyal follower bases to the platform with them.
- And it creates more ad revenue opportunities for the company. Snapchat could charge brands for increased distribution of Stories on third party websites, for example. Facebook and Instagram don’t support sharing Stories on other platforms, potentially making brands more inclined to pay for this type of ad product. Generating additional ad revenue is crucial for Snap as it missed revenue expectations in every quarter since going public.
Stories Everywhere could also take away from Snapchat’s core identity as a platform where close friends to interact. In November, Snapchat pitched itself as a platform where close friends interact with each other to entice ad spend from brands — nearly 60% of snaps are sent and received between close friends, according to the company. Stories Everywhere will make Snapchat less of a closed platform, potentially frustrating users accustomed to the intimacy of the app.
Robert Elder, research analyst for BI Intelligence, Business Insider's premium research service, has put together a detailed report on social video that:
- Assesses the evolving social video landscape, with attention to Facebook, YouTube, Snap, and Instagram.
- Analyzes the relative strengths of each platform from a product, distribution, audience, and monetization perspective.
- Looks at what’s next for the industry, so that media creators and brands can invest for the future.
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