The famous International Festival of Creativity, Cannes Lions is about to draw curtains on June 18, Saturday. Cannes Lions is undoubtedly the biggest and the best advertising festival globally. Snapchat released an ostentatious YouTube video flaunting itself as a premiere destination for all advertisers ardent on accomplishing the fashionable futuristic set.
According to a video, Snapchat touches about 41% of people between the ages of 18 to 34, equated with approximately 6% for the average television channel. The social networking is just about 4 years old and already has a 100 million users logging on to the website every day and each of these spend about 30 minutes on the app daily.
Videos viewed on Snapchat have almost trebled and grown more than 350% in the last year and according to Snapchat, there were two times more Millennials who viewed the first Republican Presidential Debate on Snapchat than on a television.
CEO of Snapchat Evan Spiegel will use the above impressive figures to persuade advertisers and Cannes Lions and others to invest in their app. A few days back, Snapchat also publicized many new products and the most essential of them is the functionality for advertisement tech companies to effortlessly assimilate ads onto the platform of Snapchat. SnapChat also announced Snap Ads, which is an ad format and allows the users to swipe up on ads in order to view longer videos, read articles, see content in a mobile browser or even download an application.
Although the company’s advertising product is just about a year old, Snapchat expects to generate about $300 million this year.