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Snapchat is set to cash in on its surreal selfies. Eight months after securing 20th Century Fox for its first sponsored lens to promote The Peanuts Movie, the number of marketers signing on for Snapchat's bespoke filters has steadily grown. Lenses, which add colorful filters to selfies—from rainbow vomit to zombie faces—are wildly popular with users, namely millennials. Lenses change regularly, keeping users coming back every day. And since last fall, brands can pay Snapchat to create sponsored filters that appear in the same section of the app for one day at a time.
"Snapchat is a very shiny object right now," said Craig Atkinson, chief investment officer at PHD.