Snapchat has announced a number of updates for video advertisers, including an increase to the duration of all Snap Ads, more interactive features for its six-second non-skip Commercials and Goal-Based Bidding.
Snap Ads can now run three-minutes long. Previously, the maximum duration for a Snap Ad was ten-seconds. Snap has significantly increased the maximum duration for all of its ads to 180-seconds. The company said that the user experience will not change (users will still be able to skip or interact with ads as they always have), but now advertisers can run longer ads on the platform.
Swipe-up feature for Commercials. Snap’s six-second non-skippable Commercials were introduced as video-only ads, with no interactive features attached. The company has now made it possible for users to swipe-up on these ad units — same as its other ad formats — launching either a web view, long-form video or camera attachment.
Snap reports that Commercials sold via its ad auction platform are seeing $10 to $12 CPMs, and an average cost-per-completed-view (CPCV) of $0.01.
Goal-Based Bidding to optimize for 15-second video views. Snap advertisers are getting a new bidding option to optimize for longer, 15-second video views. With Goal-Based Bidding the company aims to deliver a new level of ad engagement for with the newly optimized bidding model.
Why we should care. Snapchat, the platform known for its ephemeral content, is opening the doors to expanded, long-form video ads that drive more engagement. The audiences currently watching longer videos on the platform are growing: Snap reports the number of daily Discover viewers has increased 35% year-over-year. The total daily time spent by users watching Shows more than tripled compared to watch-time during the second quarter of 2018.
With these added video offerings — and its hold on younger audiences (Snapchat reports its user base includes 75% of 13 to 34 year olds in the U.S.) — Snap is making way to take a larger chunk of the video advertising market.