Word has gone around that Snapchat is planning to expand the service by featuring news content, videos and advertisements on the platform. According to the Wall Street Journal, Snapchat Inc. is discussing with advertisers and media companies to launch a service called Snapchat Discovery.
Rumoured to be released this November, this new service will give Snapchat users the access to news content and advertisement on the Snapchat platform. Users simply hold down a finger on the screen, just the way they do with photos and messages on the app before they vanish.
As we all know, Snapchat’s popular feature is about sharing photos and videos with friends that self-destructs within seconds. Currently 27 Million Users strong, it seems that Snapchat is planning far. According to a survey done by ComScore, Snapchat is already the third most popular social media app in the US, especially with millenials, with a 32.9 percent penetration for 18 to 34 year olds, trailing behind only Facebook and Instagram. Snapchat Discovery might be their next step to move away from being just a personal communication tool, and break into the above 35 group.
Whether Snapchat Discovery will be part of the existing app or launched as a stand-alone product, it has been guesswork so far.
Snapchat’s plan for expansion has certainly piqued the interest of several media companies in providing content. An unknown source reported that MailOnline, an online subsidiary of the Daily Mail, a British newspaper, is one of the content providers that would share their news coverage with the app – even though the MailOnline representative declined to comment.
Taco Bell and McDonald’s have also reached out to Snapchat for distributing their brands on the platform. Tech Times also reported that Snapchat was in discussions with investors led by Alibaba Group Holdings Pte Ltd for an investment that will value the company around $10 billion! Alibaba expressed interest in planning an investment in Snapchat, which will increase its presence in the States.
Snapchat is looking to grow rapidly, when they get these stars on-board. These rumoured efforts are definitely showing that the company is interested in cashing in on the app’s popularity among the young and tech-savvy users. Will these new additions make Snapchat better or worse for its loyal users? We’ll know soon enough.