Snapchat is reportedly planning a ‘Discover’ feature for music and videos, with a number of big brands lined up to sponsor channels, according to a news reports.
The New York Post reports that the self-destructing photo app will launch ‘Discover’ with partners Comedy Central, Food Network, CNN, National Geographic, Vice Media and Warner Music Group.
The partners will be providing videos for the new section of Snapchat’s app, and sharing advertising revenues with the US startup, which recently raised $485m of funding valuing the company at $10bn.
Discover is part of Snapchat’s grand plans to start making money from its youthful and highly-engaged user base, alongside the ads that already appear within the app’s Recent Updates screen.
It was recently revealed that running an ad on Snapchat, costs a massive $750,000 a day, despite the fact ads self-destruct like messages at the end of a day.
The app has been focusing on top brands to buy placements, disclosing audience numbers (with its ‘stories’ apparently drawing tens of millions of viewers a day) in order to land big name clients.
However, the lack of reporting capabilities on Snapchat, which cannot provide clients with demographic feedback, and the self-destructing nature of the ads is making many marketers think twice before forking over such a large sum.
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