Later this quarter, Snap plans to launch Select -- a new way for advertisers to buy and reserve “commercials” alongside the platform’s top Shows in Snapchat Discover.
Commercials are Snap’s non-skip, six-second, sound-on video ads, which the social giant says are presently seeing 1 cent average cost per completed view.
Snap is positioning Select as a new way to buy its most premium video inventory, via a fixed CPM.
This includes programming like Snap Originals -- which the company expanded earlier this month -- along with sports Shows and various partner offerings.
David Roter, vice president, global agency partnerships at Snap, can’t wait to start selling the new offering. “Snap Select gives marketers and agencies access to reserve inventory in the most premium, popular shows on Snapchat,” Roter stated.
Snapchat shows have been successful.
During the first quarter of the year, nearly half of Snap’s daily Discover viewers watched Discover every day of the week. Over the last year, the time spent watching shows on Snapchat every day more than tripled, per the company.
"Endless Summer," Snap’s first docu-series, reached over 28 million unique viewers in its first season, while its scripted series "The Dead Girls Detective Agency" reached more than 14 million unique viewers. Over 40% of the users that completed the first episode watched the entire first season.
In March, Snap’s partners increased their total mobile monthly audience in the U.S. by an average of more than 30% just by publishing to Discover, as measured by Comscore.
With Select, Snap also plans to invite advertisers to pick and choose ahead of time when they want their commercials to run -- at a fixed price.The new offering with also include what Snap is calling “proposals” -- a one-click tool for media buyers to review and approve a Snap Select plan.