At the 2024 IAB NewFronts event held on Wednesday, Snapchat announced a series of new augmented reality (AR) and machine learning (ML) tools designed to help brands and advertisers reach users on the social network with interactive experiences. announced.
The company said it is investing in ML and automation to help brands create AR try-on assets faster and easier. Over the past few years, Snapchat has worked with companies like Amazon and Tiffany & Co. to allow users to virtually try on different products within the app. The social network says it will reduce the time it takes to create these AR try-on assets, allowing brands to quickly turn more 2D product catalogs into try-on experiences.
Image credit: Snapchat
Additionally, brands can now create branded AR ads and create custom lenses using generative AI technology. Snapchat told TechCrunch that the new feature allows brands to provide simple text or image prompts to generate their own ML models that can add realistic facial effects to lenses. Lenses with these ML face effects can be used as AR ads on Snapchat.
Snapchat also announced an AR extension. This will allow advertisers to directly integrate AR lenses and filters into all ad formats in the app, including Dynamic Product Ads, Snap Ads, Collection Ads, Commercials, and Spotlight Ads.
The company, which was an early adopter of AR technology, claims that on average more than 300 million people engage in AR experiences in its apps every day.
The release of new tools for brands and advertisers comes days after Snap reported a 21% increase in revenue for the first quarter of 2024 to $1.195 million, largely due to improvements it made to its advertising platform. I was disappointed. The company also shared that the number of small and medium-sized advertisers on Snapchat has increased by 85% year over year.
Snapchat said Wednesday that it is focused on investing in its advertising business and is “encouraged” by increased demand.
Image credit: Snapchat
The company also announced the launch of a sports channel within Snapchat called Snap Sports Network. The channel features unconventional sports like dog surfing, extreme ironing, and water bottle flipping. This includes user-generated content and scripted content hosted by Snap Stars.
Additionally, Snapchat is expanding its partnership with Live Nation by launching a new Snap Nation public profile featuring exclusive behind-the-scenes content from concerts. Snapchat will also curate Live Nation concert and festival stories featuring public posts from users.