Some companies have been hesitant to adopt the Snapchat app, mainly due to how the content is only posted temporarily and, more importantly, the high advertising price. However, that didn’t stop [a]listdaily from advising companies to why they should hop on the bandwagon. Now, there are even more reasons to do so.
A recent AdWeek article reveals six different statistics from the popular app that show why companies should hop get involved with it now more than ever. The company’s CEO, Evan Spiegel, was quick to point out that over 16 million viewers check out the new ad-supported Sponsored Selfie Filters program a day. That makes the fee charged for ads, which can be as high as $700,000, worth it when it comes to exposure. Traditional magazine-turned-digital-juggernaut Cosmopolitan, which is one of the handpicked publishers on the app, sees three million viewers a day through Snapchat Discover, according to Digiday.
iHeartRadio has managed to amass a huge streaming audience on Snapchat, with over 340 million impressions during its two-day music festival back in September. That’s big numbers, especially for a digital music brand like that.
Facebook should also be sweating the details from Snapchat’s popularity. A report from Piper Jaffray indicates that the app is way more popular with American teens than the social site, with 19% indicating that the mobile app is their most used social network. Instagram continues to have a steady lead with 33%, followed by Twitter (20%) and then Facebook right behind Snapchat with 15%.
Finally, the biggest stat of them all: an International Business Times report indicates that Snapchat gets an overall total of four billion video views a day. That matches the same number as Facebook’s recent video service numbers, up from three billion earlier this year.
Snapchat also played a big part at the MTV Video Music Awards. Between red-carpet coverage, backstage performances by Macklemore and Pharrell Williams, and crowd perspectives during Kanye West’s address, Snapchat managed to get twelve million viewers to tune in. That’s twice the number of those watching it on television, according to Fast Company.“With Snapchat, we’re putting our content into the pockets of 100 million millennials,” said Viacom sales chief Jeff Lucas regarding the numbers. “Snapchat is targeted television on mobile.”
The current value of Snapchat sits at $16 billion, but it operates a bit differently than most social networks. “We have two major businesses,” said Snapchat chief strategy officer Imran Khan. “One is communication, and the other is entertainment.” And they both play a part into the app’s success.
With a demographic between the ages of 13 and 34 that makes up a whopping 86% of its overall audience, Snapchat is becoming a force to be reckoned with if brands want to reach a younger demographic.