The company which began in 2014 by selling ads is now days looking to topple social media giant, Twitter. 2016 is being billed as a year where Snapchat will outdo Twitter in advertisement sector as it plans to bring in more work-force and introduce major changes in its workings.
Out of several changes, the most anticipated one is of video marketing that Snapchat will be introducing. Furthermore, Snapchat has introduced numerous new ad formats, including sponsored lenses that let users various graphics and animations over their selfies and its native video ad product called 3V (video, vertical, views).
Analyzing upon the danger to Twitter MEC global head of social for North America, Noah Mallin said, “Twitter hasn't really built a compelling story around video, and Snapchat is tying themselves to events in a way that Twitter has as well. So that's where the real danger to another company is. I don't necessarily see them taking pieces of the pie away from Facebook or YouTube, but I do think it makes it a harder story for Twitter to tell about video,” Business Insider reported.
Even though Snapchat is younger of the two companies, the competition it will give to Twitter will be really hard. It is expected that Snapchat won’t impact Twitter in short term but it will long term rivalry that will be the determining factor.
Stating further on growing trend of video advertisement Mallin said, “One of the things that’s driving it is the rising video as a vehicle for clients. When they're looking at digital video, really Facebook and YouTube are top of the pack. For a long time it was really YouTube and others, but Facebook has kind of broken away from that pack and have really become a real rival to YouTube, and that's where we're seeing a lot of the money going into.”
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