Snapchat is said to be readying a new content and advertising business under the banner Snapchat Discovery. This would provide users with news and advertisements that, like the messages Snapchat has built a name for itself upon, disappear after viewing.
This is according to a report from The Wall Street Journal, which cites people briefed on discussions the company has been having with publishers and advertisers. It says the service will launch in November, and that at least a dozen media companies have discussed providing content for it. These include newspapers (like Daily Mail), magazines, and TV networks.
Snapchat isn’t officially commenting on the plans, which would provide at least some stream of revenue for the company, which Facebook once offered $3 billion for. Bloomberg recently suggested the company is worth as much as $10 billion.
The question is, do users want news that disappears? Do Snapchat users even want news (let alone) ads in the app in the first place?
Obviously it remains to be seen just how Snapchat intends to execute the Snapchat Discovery offering. It will be interesting to see how users react. There is already an increasing number of competing apps on the market. A wrong move could prove quite detrimental for a company that some already consider overvalued.
Still, advertisers will no doubt be eager to reach a whole new social media audience.
comScore recently put out a report finding that millennials are really into Snapchat. It’s the third most popular social app for the group.
Image via Snapchat, Facebook