Snap Finally Playing Some Offense
It’s been choppy couple of years for Snapchat, to say the least. MAUs are flat at best, they’ve lost 10 executives in the past six months, and at one point in December the stock was priced under $5. With all that bad news it would have been easy to write Snap off as a once promising social platform who just couldn’t grow into a stable business.
But recently things have started to change. As part of a major strategy reset Snapchat poached Jeremi Gorman from Amazon to be there new Chief Business Officer. Now we’re starting to see some of her new initiatives being implemented to improve Snap’s content pipeline and monetization. Here’s what going on behind the ghost-shaped curtain .
First about the content side. Snap has had a notoriously bad relationship with its top content creators, which has caused many of them to shift their focus to Instagram. To win the creator community back Snapchat hosted its inaugural Partner Summit last week in LA. The goal of this summit was to give creators a seat at the content design table, with the hopes of making the app more accessible by the masses.
During the Partner Summit Snapchat also announced the launch of its new Snapchat Audience Network. While mobile ad networks are nothing new, Snap’s willingness to create an open API called the Snapchat Ad Kit and let other publishers plug in to their ad network is uncharted territory for them.
It’ll probably take a year to really know if these open initiatives will help Snapchat rally. I’ll give them credit for at least trying something.