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Snapchat plans on doubling the number of TV-like shows it releases on the platform this year to 80, Digiday reports.
The company is looking to engage more digital companies beyond the traditional TV networks like ESPN and A+E Networks it typically works with, recently ordering at least one show each from Conde Nast Entertainment and Group Nine Media, for example. This effort highlights Snapchat’s broader push to lure TV ad spend as eyeballs shift away from linear TV to digital platforms.
Creating shows for Snapchat is an attractive proposition to TV networks and publishers for several reasons:
- The ability to reach young users who aren’t on Facebook or Instagram. A December 2017 survey by RBC Capital found that 79% of US respondents aged 13 to 18 had a Snapchat account, a higher portion than any other social media platform. Of this group, 57% were on Facebook and 73% on Instagram.
- Snapchat shows are gaining traction among users. In Q4 2017, more US users aged 13-34 watched E!’s Face Forward Snapchat show than many of the most popular TV shows, according to Snap CEO Evan Spiegel. Moreover, NBCUniversal’s Stay Tuned has garnered tens of millions of monthly unique viewers on the platform since launching in July 2017. That said, Snapchat doesn’t disclose what it counts as a view, so the company’s viewership figures are likely not fully comparable to TV views.
- Show producers retain ownership over their programs. This paves the way for show creators to expand their Snapchat shows beyond the platform, and potentially license their programs to other buyers down the road. This contrasts with Facebook’s approach of outright buying more shows for its Watch video section, according to Digiday.
Snapchat isn’t subsidizing the production of shows, though, which could be a barrier for small publishers. Additionally, monetization has been an issue for some Snapchat show partners. The company has struggled to fill the ad slots on some of its shows in the past, according to an October report by Digiday, while CNN pulled the plug on its daily Snapchat news show due to low monetization. Nonetheless, the platform just beat daily user expectations for its first time ever as a public company, and this reinvigorated user growth could also encourage companies to create shows for Snapchat.
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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