Snapchat has started to roll out some new options for advertisers on the platform, which will allow them to run their ads for up to three minutes.
The new feature is called extended play commercials, and these will be displayed as mid-roll adverts, which are similar to the current, shorter Snap commercials. These ads will still be able to be skipped after six seconds, just like all other ads on the app.
This new extended ad format has been designed to give video advertisers the opportunity to tell longer stories on the platform in order to engage avid viewers. Snapchat believes that thanks to this new ad format, it will be able to capture a greater market share in terms of video advertising.
At present, the extended play commercials are available in a closed beta test, with whitelisted advertisers being able to access them through the Snapchat Ad Manager. Advertisers who want to have early access to this new feature can request it from their advertising representatives at Snapchat, while brands can request access to them by contacting the company through the Ad Manager.
David Router, the VP of Global Agency Partnerships at Snapchat has said that the company is committed to building these long format video ads, and believes that they will be high impact and become a great opting for advertisers and for its millennial and Gen Z audiences to discover premium and safe content.
As well as this, latest research from eMarketer has suggested that Snapchat is growing at a faster rate than predicted at present, indicating that the company is making something of a comeback after a couple of years of disappointing results.
eMarketer has said that by the end of 2019, Snapchat is projected to have 293 million worldwide users, which is up over 14% compared to the same time of last year, and up in the previous estimate of 281.2 million predicted as part of its Q2 forecasts. It also expects this growth to continue through to the end of 2023, where it is expected to have 11 million more users than originally anticipated.