It seems that before Snapchat rolls out Snapchat Discovery for news organizations and brands, the app will introduce its first ads as part of its Stories feature. At a Vanity Fair event in San Francisco, CEO Evan Spiegel said that the ephemeral messaging platform’s first paid advertising will debut “soon.” Introducing Snapchat ads on its Stories feature would mean that they could be viewed for up to 24 hours. Spiegel described the ads as “not fancy… not targeted.”
It is widely reported that Snapchat is now valued at $10 billion, and thus under a lot of pressure to live up to that valuation. Mashable reports that even if the ads are not targeted, they still hold appeal for advertisers. “From an advertising standpoint, it’s an immature medium, but the audience composition is amazing — 50 percent are below 25 and the number above 35 is in the single digits,” Ben Winkler, chief digital officer at OMD, told Mashable.
Spiegel was interviewed by Katie Couric at the event, and shared the stage with former New York mayor Michael Bloomberg (who can also add “knight” to his resume now). When the older media mogul was asked if he had advice for the younger one, Bloomberg responded:
“His challenge is always going to be somebody else comes up with, instead of Snapchat, a ChatSnap, and then he’s got to find some ways to not only keep his technology better but to stay au courant, to be the fashion,” Bloomberg said.
“People use it because people use it,” he said. “How you get into that virtuous cycle is to some extent luck, to some extent really a unique product, to some extent being in the right place at the right time.”