The Economist, a 173-year-old newspaper based in London, is tapping into a new way to reach millennials in the U.S.: Snapchat Discover.
The Economist will
publish a weekend edition on the platform, which gives publishers the opportunity to create and distribute content to Snapchat’s 100 million daily users.
Most are under the age of
35.
The Economist’s Snapchat Discover content will be available for users in the U.S., Canada and Australia. Each weekend edition will focus on one theme through 14 or
more “top snaps,” or animated cards.
They range across business, politics, science and technology news through a mix of graphics, video, animation and text made by its editorial
team.
Each edition will also include four advertising slots. Goldman Sachs is the exclusive advertiser of the first edition.
Reports indicate that Snapchat takes a
30% cut from ads sold by publishers and a 50% cut when the ads are sold by its own team.
Snapchat Discover is a smart way for a publisher known for its in-depth reporting to reach a
young audience across the pond that may not be familiar with the brand.
Snapchat claims it reaches 41% of 18- to 34-year-olds in the U.S.
Lydia Kaldas, SVP of strategy and
channel relationships at The Economist, stated that this partnerships marks an expansion of their content onto a new platform “as a way to grow reach and awareness with key
audiences.”
The Economist’s first edition will focus on “debunk[ing] fears about a jobless future” and will explore “the sluggish economic
growth” and the idea that “technology tends to redefine jobs, rather than replace them,” according to a statement from the company.
“We think our global, comparative and
evidence-based outlook, with a dash of wit for good measure, is a perfect fit for the Snapchat generation,” stated Tom Standage, deputy editor of
The Economist.