Snapchat
has partnered with CNN, ESPN and nine other media companies to feature
videos and articles on its mobile messaging service, a move that
heightens the competition with social networks such as Facebook Inc and
Twitter Inc.
Snapchat’s
new Discover service features individual “channels” for its various
media partners that include five to 10 stories a day, according to
Snapchat, which announced the move on its official blog on Tuesday.
After
24 hours the stories disappear, in keeping with Snapchat’s trademark
feature of private messages that disappear a few seconds after they are
viewed by users of the service.
The
addition of news and entertainment content represents the latest
expansion for Los Angeles-based Snapchat, which has become a popular
communications tool for teenagers. In November, Snapchat partnered with
online payments company Square to offer a service that lets users send
money to each other.
The
new Snapchat features reflect the growing competition among mobile
messaging apps and social networks to entice users to spend more time on
their free, advertising-supported services.
Snapchat
did not disclose financial terms of the media partnerships for its
Discover service, but a person familiar with the matter told Reuters
that it involved revenue-share arrangements. Full-screen video ads will
be interspersed throughout some of the stories.
Snapchat,
which previously turned down a $3 billion offer to be acquired by
Facebook according to another person with knowledge of the matter, has
been valued at $10 billion in its most recent fundraising effort,
according to media reports.
Posted by : Gizmeon
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