Last week, Snapchat began rolling out some big changes to its Stories format by giving users control over whose updates they view. Previously, Auto Advance would play them all back-to-back with Snap ads in between. Now, Snapchat users can manually select which Stories they wish to view and the updates will be played in that order. If users watch more than one, ads will appear mid-roll, or at the end when viewing just one at a time. In this way, Snap, Inc. hopes to set itself apart from Instagram Stories, which (copying Snapchat) advances automatically through all updates.
Going Hollywood
Now that Snapchat is Snap, Inc., a camera company, the social media giant wants to be “in the pictures.” Enlisting Hollywood talent agencies like CAA and WME, Snapchat is now included in the same “coverage update” that Hollywood agencies regularly send to clients about “who’s buying and what they’re buying,” sources told Digiday. “Snapchat’s now on that list, which is interesting because it’s usually [TV networks like] NBC or History Channel,” said an executive at a studio that’s pitched Snapchat. Snap, Inc. wants short-form shows between 2 and 6 minutes an episode, but are open to all genres from reality TV to comedy and everything in between, according to a coverage report sent to WME.
The brand formerly known as Snapchat is out to prove itself to investors, preparing the paperwork for an IPO and hoping for a value of $25 billion or more. Should the company receive this valuation goal, it would be the biggest company to go public on the US Exchange since Alibaba Group Holding Ltd. debuted at a $168 billion valuation in 2014. Snap, Inc. plans to offer shares beginning in March 2017. By creating strong relationships with Hollywood and reinforcing brand loyalty among users by making them feel more important than advertisers, Snap, Inc. aims to prove its worth to the world.