Millennials need news, too – preferably in a vertical smartphone format.
With that in mind, The New York Times is preparing to launch a new product, the daily “Edition,” on the Snapchat Discover platform. Published on weekdays, the Edition will provide a high-level overview of the news drawn from the I’s existing Morning Briefing product.
Intended to help readers start their day with a quick but comprehensive news roundup, Edition will be tailored to the Snapchat Discover platform, with a heavy emphasis on visual storytelling.
Ir will be produced by the NYT in partnership with Snap, the popular app’s parent company.
Separately, Snapchat is taking steps to combat fake news, clickbait and risqué content on Discover, in an effort to elevate editorial quality and provide a better advertising environment.
Snapchat’s Discover platform has been wooing legacy media companies with the promise of huge reach among a highly desirable demographic. According to Nielsen data cited by the companies, Snapchat reaches 41% of all adults ages 18-34 in the U.S. on an average day, while the global audience for Snapchat Discover tops 150 million daily.
News of the latest publisher partnership comes as Snap plans an IPO that will reportedly value the company at $25 billion or more, with the stock market debut set to take place as early as March.
On the advertising side, Snap recently struck a deal with 4C Insights, a provider of multiscreen data and media tech solutions, to enable brands and agencies to manage Snapchat ad placements from an external self-serve platform.Looking ahead, eMarketer projects that Snapchat will generate $935.5 million in worldwide ad revenue this year, an increase of 155% over last year.