Dive Brief:
- Snapchat ran its first-ever live streaming video ad last night, according to Variety. The spot, promoting Turner network TruTV's "Upscale with Prentice Penny" series, was in the 360-degree video format.
- After users swiped up on the initial Snapchat ad, they were sent to a live stream that gave a behind-the-scenes look at a red carpet event for the show with its titular star and creator Prentice Penny.
- In related news, Variety reports parent company Snap signed a deal with MGM Television to produce original series for Snapchat's Discover portal. The new partnership marks the first major entertainment studio to create shows for Snapchat, though content plans are unclear at the moment.
Dive Insight:
Snap has weathered an uneven few weeks since its IPO, but a few fluctuations in stock price and some analyst skepticism around user growth clearly aren't enough to keep media brands like MGM and Turner away. The live video ad from Turner highlights where Snapchat really shines for marketers, capturing an in-the-moment event in real-time and giving viewers insider access to it.
Other brands, including L'Oréal and Toyota, have leveraged Snap's Spectacles wearable for similar purposes, with the former tapping the hardware to provide Snapchat users a sneak peek at the Golden Globes red carpet.
Snapchat broadcasting the Turner stream in 360-degree video is another evolution in its marketing capabilities and the immersion its platform can provide. Brands have seen success with 360 video ads on Snapchat to date, but have had to use workarounds to create them, as the format is not native to Snapchat.
When it comes to the MGM partnership, Snapchat isn’t alone in looking to produce more TV-like content, as Twitter and Facebook have been searching out media deals for both live streaming and premium, long-form video series. Facebook might have an advantage here given the sheer size of its user base, but TV networks — and now, notably, a major studio like MGM — are chasing younger eyeballs belonging to Gen Z and millennials, many of which pay closer attention to Snapchat.
