Snapchat set to offer sponsored selfies
Snapchat is about to offer ‘sponsored lenses’ as the messaging app aims to monetise its enormous young user base.
Earlier in the month, Snapchat unveiled ‘lenses’ - a new type of filer that would allow its users to place them inside something that looked a lot like Iron Man’s suit or turn themselves into a demon.
The move has proved to be successful for the firm and now it seems its long-term ambitions for lenses have been revealed.
Snapchat is going to introduce the ability for brands to sponsor these lenses. So on Halloween, users may be able to transform their faces into Jigsaw or Freddie Kruger.
It's understood that sponsored lenses could cost up to $750,000 (€671,000) on a peak day like Halloween or $450,000 (€403,000) on a non-peak day.
According to reports, Snapchat has reached a $100m projected annualised run rate, that has been made up of some brands making $10m commitments.
Snapchat have tested out different forms of advertising and micro-payments in the app including its Discover feature.
It is understood that the company is shying away from payment-based revenue due to its young customer base.
While no more details about the sponsored lenses has been released the feature may allow users to click through to more sponsored content or it may link the lens with a Discover circle.