A Quick Look at Snapchat’s Latest Initiatives
On-demand Geofilters
Snapchat has introduced another revenue stream by extending its existing feature Geofilters. Now businesses and users can create their own custom Geofilters in a specific area for an allotted time with “On-Demand Geofilters.” The new feature will allow anyone to buy Geofilters starting at $5.
Users with a bit of design savvy who want to create their own logo—for instance, for a birthday party or wedding ceremony—could use this feature. In fact, businesses could also leverage this new feature to market their products for a certain period within a specific territory. The minimum size a user can choose for this feature is 5,000 square feet, and the minimum time before this Geofilter disappears is 30 minutes.
GeoFilter expansion
Snapchat already has two varieties of Geofilters. Community Geofilters don’t include any logos because they mainly target non-business users and can be submitted for free. Another type is Sponsored Geofilters, which is available to brands and media to cover a specific marketing area promoting their logo.
In 2014, Snapchat introduced Geofilters, which adorns users’ photos and videos with stickers and words. Popular messaging apps Tencent’s (TCEHY) WeChat in China (MCHI), Line, and KakaoTalk in South Korea (QKOR) also offer stickers for users to send to friends. Earlier, Geofilters was limited to a certain events or venues in cities like Los Angeles and New York. They quickly spread to include other events and locations. Snapchat invited major advertisers like McDonald’s (MCD) to buy sponsored GeoFilters.
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