Snapchat has introduced new augmented reality (AR) and machine learning (ML) tools for advertising, partner programs, partnerships, and other solutions at 2024 IAB NewFronts.
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The US multimedia instant messaging application also revealed that its Q1 2024 revenue had grown 21 percent year over year, powered by platform enhancements, which include the 7-0 Pixel Purchase optimisation model, an updated Conversions API (CAPI), extra campaign setup tools, and more.
IAB NewFronts is the world’s largest digital content marketplace, giving buyers a unique perspective of the video marketplace. Google, for example, took the opportunity to reveal four Display and Video 360 updates at IAB NewFronts 2024.
According to Snapchat’s blog post about the event, it took the opportunity to showcase its platform to advertisers using “More SnapChat”:
“Today, Snap returned to the IAB NewFronts with “More Snapchat” to bring the magic of Snapchat to life for partners and announce new solutions, programs, and content partnerships for advertisers to connect with Snapchat’s unique and growing audience.
“Leveraging innovative multimedia projection mapping technology, we reimagined the historic Cipriani 25 Broadway into an immersive experience that captures the spirit, vibrancy, and joyful world of Snapchat.”
The Latest AR and MR Advertising Solutions
Snapchat has released AR extensions that enable advertisers to integrate AR Lenses and Filters into all ad formats, such as Snap Ads, Dynamic Product Ads, Commercials, and Spotlight Ads.
As a result, advertisers will be able to draw attention to their products and get branding exposure via augmented reality adverts on Snapchat.
AR asset creation has also been made quicker and easier through the company’s recent investments in machine learning and automation.
It can now speed up and increase the scale of AR ‘try-on’ asset creation to help brands convert 2D product catalogues into try-on experiences.
ML Face Effects allows brands to create branded AR ads with generative AI technology to enable custom-produced Lenses. Brands will also be able to quickly generate unique machine learning models and create realistic face effects and selfie experience for Snapchat users.
New Programs and Partnerships
The 523 creator accelerator program is being taken to the next level through a partnership with the actress and writer Issa Rae with her company Ensemble to assist partners and brands in content creation.
Snapchat has also partnered with NBCUniversal for the Paris 2024 Olympic Games. It is planning to add new AR experiences through its in-house augmented reality team that will enable Snapchatters to get fully involved in NBC’s coverage of the games.
Other Snapchat sports partnerships are also in place with the NFL, NBA, and WNBA to provide official content within Stories and Spotlight.
Snapchat is also launching the Snap Sports Network sports channel to cover unusual sports like extreme ironing and dog surfing.
Finally, the social networking app is launching Snap Nation with Live nation to give its users access to festival and tour experiences.
In March this year, Snapchat launched Sponsored AR Filters, enabling brands to place adverts in the post-capture Filter Carousel.
The new augmented reality advertising expands the reach for brands beyond the pre-capture Lens Carousel, leveraging the potential of the five billion Snaps created every day.
