Snapchat Unveils New Augmented Reality and Machine Learning Tools for Brands
At Wednesday’s 2024 IAB NewFronts event, Snapchat announced a series of new augmented reality (AR) and machine learning (ML) tools designed to help brands and advertisers reach users on the social network with interactive experiences.
Investing in ML for Faster AR Try-On Assets
The company said it’s been investing in ML and automation to make it faster and easier for brands to create AR try-on assets. Over the past few years, Snapchat has worked with companies like Amazon and Tiffany & Co. to let users virtually try on different products in the app. The social network says it has now reduced the time it takes to create these AR try-on assets, allowing brands to quickly turn more of their 2D product catalogs into try-on experiences.
Branded AR Ads with Generative AI Technology
Plus, brands can now create AR ads with generative AI technology to produce custom Lenses. Snapchat told AsumeTech that with this new capability, brands can provide a simple text or image prompt to generate a unique ML model that can add realistic face effects to a Lens. Lenses with these ML face effects can be used as AR ads on Snapchat.
AR Extensions for Advertisers
Snapchat also announced AR Extensions, allowing advertisers to integrate AR Lenses and filters directly into all of the app’s ad formats, including Dynamic Product Ads, Snap Ads, Collection Ads, Commercials, and Spotlight Ads.
Focus on Ad Business and New Snap Sports Network
The company, an early adopter of AR technology, says more than 300 million people engage with AR experiences on its app daily, on average. The launch of the new tools for brands and advertisers comes a few days after Snap reported that its revenue for Q1 2024 increased 21% to $1.195 million, mainly due to improvements made to its advertising platform. Snapchat said on Wednesday that it’s focused on investing in its ad business and is “encouraged” by the increased demand it’s seeing.
Snap Sports Network and Live Nation Partnership
The company also announced the launch of a sports channel called the “Snap Sports Network.” The channel will cover unconventional sports, like dog surfing, extreme ironing, water bottle flipping, and more. It will include user-generated content and scripted content hosted by Snap Stars. In addition, Snapchat is expanding its partnership with Live Nation by launching a new Snap Nation Public Profile featuring exclusive behind-the-scenes content from concerts. Snapchat will also curate stories from Live Nation concerts and festivals featuring public posts from users.
