Snapchat has released a YouTube video for the Cannes Lions event claiming to be the number one destination for advertisers to reach millennials. While Snapchat’s advertising product is only a year old, the company anticipates at least $300 million in revenue this year. Snapchat reaches 41% of 18- to 34-year-olds, compared with 6% for TV, according to the company's YouTube video. The company is also working on an app that will let users share photos and videos from their phones without having to leave Facebook. The engagement figures are crucial to the company's efforts to encourage advertisers to spend money, and a new range of ad products was announced earlier this week, including functionality for easy integration of ads on Snapchat's platform. Despite being only four years old, Snapchat has 100m daily users and expects revenues in excess of $300m this year.
Snapchat has released a YouTube video for the Cannes Lions event claiming to be the number one destination for advertisers to reach millennials. Snapchat reaches 41% of 18- to 34-year-olds, compared with 6% for TV, according to the company's YouTube video. The company is also working on an app that will let users share photos and videos from their phones without having to leave Facebook. The engagement figures are crucial to the company's efforts to encourage advertisers to spend money, and a new range of ad products was announced earlier this week, including functionality for easy integration of ads on Snapchat's platform. Despite being only four years old, Snapchat has 100m daily users and expects revenues in excess of $300m this year.