Its newest feature “Spotlight” will pay professional and amateur creators $1 million per day.
As per its Investor Day Tuesday statement, Snap Inc. anticipates a continued 50% annual revenue growth for the coming years. The company highlights how its five “buttons” will help users engage with businesses and boost revenue.
It hopes its detailed investment plans in monetisation and sales capabilities will help build innovative products and drive revenue. The recent AR try-on program coupled with new camera capabilities, informative experiences, and creative designs could also drive CTRs and purchases.
Further, Snap’s communication platform is key for retention, as its Snap Kit has over 1,000 app integrations, driving nearly 150 million engagement every month. Evan Spiegel, co-founder and CEO of Snap Inc., predicts Snapchat’s camera to be “a multibillion-dollar platform” and AR to be a long-term opportunity.
[10 minute read]