SANTA MONICA, Calif. – Snap Inc. (NYSE: SNAP): Camera company Snap Inc. today announced at its annual Snap Partner Summit a range of new features to its platform and demonstrated how the AR experiences it has built alongside its partners are seamlessly integrating into our daily lives, improving the way we live, learn, communicate and even shop.
Along with the new features, Snap announced that Snapchat now reaches over 600 million monthly users and over 332 million daily active users worldwide. Snap also works with more than half a million partners, creators and developers to provide its community with innovative products and services.
Over the past year, Snapchatters have shared content from partner apps, like songs from Spotify or tweets from Twitter, more than 6 billion times on Snapchat. And lastly, Snapchat is ranked the happiest platform compared to other apps.
Snap’s AR community is building real businesses using Snap’s technology. These developers around the world have built over 2.5 million Lenses that have been viewed over 5 trillion times. To help further support AR innovation, Snap today introduced features like Lens Cloud.
Lens Cloud is a collection of backend services available for free. Features include:
- Storage Services: This allows complex and interactive Lenses to be created by storing assets in Snap’s cloud, and calling them up on demand. Snapchatters can resume sessions where they left off last time
- Location Services: Allows developers to anchor their Lenses in custom locations around the world. Or, they can use Snap’s city templates.
- Multi-user services: AR shared between several users is possible in the same Lens
Soon, Lens Studio will feature Ray Tracing, which will allow reflections to shine from AR objects in a true-to-life way. This is the first time an ability like this has scaled to mobile devices.
AR shopping news
Since January 2021, over 250 million Snapchatters have engaged over 5 billion times with Augmented Reality Shopping Lenses. They also rank Snapchat as the #1 platform for share shopping moments.
Snapchatters love using AR to experiment. Lenses that used full-size technology generated a 42% higher return on ad spend than lenses without. This week, Snap is showcasing several new technologies to advance how brands can deliver products to their customers through augmented reality:
- Introducing Snap 3D Asset Manager: Brands can now request, manage and optimize 3D models for any product in their catalog. Now, Shopping Lenses can be created in seconds, and at no additional cost, allowing brands to create high-converting try-on experiences while ensuring minimal returns thanks to Snap’s size prediction technology.
- Introducing a new kind of shopping goal for trying on outfits without ever having to change clothes, powered by our AR image processing technology
- Introducing Dress Up: Available in Lens Explorer, or soon a click away from Snap Camera in AR Bar, Dress Up invites people to browse, discover, and share new looks from around the world. This will be the first surface dedicated to fashion experiences on Snapchat.
- Introducing Camera Kit for AR Shopping: Camera Kit for AR Shopping is an AR SDK that integrates Snap’s trial lenses into product detail pages of retailers and brands to improve the digital shopping experience of their clients. Camera Kit for AR Shopping works on Android and iOS, and will soon work on websites as well.
Live Nation Partnership
Snap announced a multi-year partnership with Live Nation that will elevate performances beyond the stages – creating a deeper connection between artists and fans – through immersive, personalized AR – only available on Snapchat.
Snap also announced a new feature allowing developers to add social experiences to Minis.
Snap introduced Minis in 2020, giving partners a way to use our html5 gaming platform to create small social experiences in Snapchat. Today, there are over 20 Partner Minis and more helping the community do everything from shopping with friends to registering to vote.
- Introducing the Minis Private Component System: Developers can add social elements to their experiences, such as ratings, reviews, recommendations and more, while protecting Snapchatter’s privacy.
There are a range of opportunities for creators on Snapchat to grow their audience, from Stories to Spotlight to Discover, and they’re building real businesses on our platform.
For creators who syndicate a show, shows are monetized with Snap Ads and Commercials, and there is a revenue share component. We’ll reveal that more than 25 Spotlight creators have syndicated shows on Discover, which were collectively watched by more than 155 million Snapchatters in the second half of last year.
Nearly two-thirds of Spotlight submissions use one of Snapchat’s creative tools or an augmented reality lens.
- Introducing Dual Mode Editing Tools: It will be even easier to create videos that stand out with the new Director Mode editing tools available in Snapchat.
Snap introduces a flying camera called Fairy. It’s pocket-sized and works on its own, with no controllers or anything complicated to set up. It floats a few meters above you and captures photos and videos, then lands in the palm of your hand after the flight. Everything he films is uploaded to your Snapchat memories.
About Snap Inc.
Snap Inc. is a camera company. We believe that reinventing the camera represents our greatest opportunity to improve the way people live and communicate. We contribute to human progress by empowering people to express themselves, live in the moment, experience the world and have fun together. For more information, visit snap.com.
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