The Future Of SnapChat — Monetized Users
I’ve seen it everywhere — SnapChat — “but what’s the point?”
As DJ Khaled, Gary Vee, Grant Cardone and hundreds of Youtubers make the voyage to this “new” app — it’s anything but NEW.
I’ve been on SnapChat since it first came out … it was a cool way to send 10 sec pictures of outings and fun times with my friends — to the friends that didn’t make it. It later expanded to video and chat.
As it has evolved SnapChat has quickly moved into the business realm — and while I have my own opinions on why I think it will continue to grow (psychological reasons) we will save that for a different blog.
So lets get down to what really matters — MONEY, as Kevin O’leary often says on Shark Tank. Here is my take. I think SnapChat has tapped into the growing demand for minisodes <- yes I made that word up. Gary Vee is seeing a HUGE following for his new YouTube series “Daily Vee”. It’s a 15–20 min sitcom if you will but this is nothing new. YouTubers have been blogging for a while now and they aren’t doing half bad. A recent snapchat from Matt Ogus showed a behind the scene look at his YouTube dashboard. He’s knocking down roughly $6,000 per month in rev share from YouTube Ads.
“But DJ — what the hell does YouTube have to do with SnapChat”
Stay with me George…. The YouTube Community is HUGE — and it’s my prediction that you will start to see more YouTube stars moving their audience to SnapChat. Why? Because it’s SOOOO much easier.
No bulky cameras, it’s selfie mode most of the time, and best of all it’s 10 seconds at a time. (I think the 10sec thing has a huge play in human attention span — but I’ll leave that to another day) On top of the “snaps” being easier to capture and post — I think it will be relatively easy for Snap Chat to monetize it’s users — but not just yet.
Let’s look back, here are just a few milestones in YouTube’s mission to monetize:
- August 2006 — First advertising concepts launched: Participatory Video Ads (PVA) and Brand Channels
- September 2006 — Underground music contest with first major advertiser: Cingular
- August 2007 — InVideo Ads (overlays) launched
- December 2007 — YouTube Partner Program launched
- March 2008 — YouTube Insight (analytics tool) launched
- October 2008 — Click-To-Buy e-commerce platform launched
- November 2008 — Promoted Videos launch
- November 2008 — Pre-Roll ads launch
- January 2009 — Homepage ads expanded from 1 to 7 formats (IMAGE: Homepage ad grab)
- August 2009 — Individual Video Partnerships launch
- November 2009 — Skippable pre-rolls
- December 2009 — Video Targeting launch
- March 2010 — YouTube mobile ads launched
5 years damn near for them to go from concept to full mobile ad launch so SnapChat has time.
As users continue to bring followers over to SnapChat from various other media outlets — think how easy it would be for snap chat to start slipping a 10 second ad in between 30+ daily snaps — you’d never see it coming and you couldn’t skip it, but most importantly it’s 10 seconds — you won’t care.
In closing — I think “in story” snap ads are coming — when and how often — well that’s to be seen! It’s a no brainer — added revenue for SnapChat — Monitized motivation for the content producers. Start building your audience folks — this is YouTube in 2007 all over again!