Snap Inc., the parent company of Snapchat, is rolling out new advertising features to enhance revenue and broaden its user base. According to a recent note from CEO Evan Spiegel, the company will start displaying sponsored messages, known as Sponsored Snaps, within users’ chat inboxes. These ads will appear as new Snaps but will not trigger push notifications, making their opening optional. It remains unclear if users will have the option to dismiss these ads without viewing them.
In addition, Snap plans to introduce Promoted Places, allowing advertisers to pay for visibility in the app’s Map tab, which shows users the locations of their friends.
These moves mark Snap’s first major foray into ad placements in Snapchat’s popular sections, aiming to boost revenue amid a challenging financial climate. The company’s stock is currently near an all-time low, and the new ad features are part of its strategy to increase earnings.
Snapchat is also launching a generative AI suite with the new Lens Studio 5.0 release, enhancing its augmented reality (AR) capabilities for users.
