Snap held its Q2 2018 earnings call today and it was a mixed bag of emotions for the company. While it revealed an impressive 44% rise in revenue Y/Y, the company also announced a 3 million drop in DAUs Q/Q, as it attempts to compete with Instagram. One main feature Snapchat has been investing in to give it an advantage in this fight is its Discover Section.
The section houses a slate of Snapchat Original Series and Snapchat Channels belonging to networks and studios like NBC and Elizabeth Murdoch’s Vertical Networks. While Speigel didn’t have much to say about the Discover Section, he did state in his opening remarks that the number of people that watch Publisher Stories and Shows on iOS every day has grown by more than 15 percent this year.
“Additionally, more Snaps from publisher stories and shows were viewed in July than any other month in our history,” added the CEO. Additionally, in Q2 2018, 11 Shows reached a monthly audience of over 10 million users, up from 7 in Q1 2018.
This increase in viewership is a promising sign for the company, which has been itching for a way to attract more advertisers to its platform. Between November 2017 and January 2018, just 397 brands bought video ads on Snapchat Discover channels, according to advertising intelligence platform MediaRadar. It’s a small number when compared to Facebook, which has more than 5 million advertisers; Twitter, which reported having 130,000 advertisers at the end of 2015; and Instagram, which has over half a million advertisers.
Speigel didn’t give much detail about his future plans for the Discover section or how much money the company planned to invest in its original content. Current shows in the section include “The Rundown” and “Face Forward” from E! News, “Stay Tuned” from NBC News, “Sports Center” from ESPN, “Phone Swap” and “Ghost Hunt” from Vertical Networks, which garner a combined 15 million views an episode.
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