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Snapchat’s Latest Monetization Plan

The social media app has embarked on a new way to monetize its 100 million+ daily active users.

As Re/code reported Monday (Oct. 26), Snapchat launched a new temporary Discover channel dedicated exclusively to advertiser-created content.

Discover is just one of the company’s revenue-generating products, which up until now has allowed media partners to publish their own content within the app and marketers to place ads alongside publisher content.

While this business model has been a moneymaker, with sources confirming advertisers are flocking to the app with a willingness to pay up to $10 million for ad packages, it seems Snapchat has opened the door for even more advertising to take place through the Discover channel.

One of the first examples of advertiser-generated content made available within Discover was purchased by Sony Pictures Entertainment to advertise its new James Bond film, “Spectre,” Re/code confirmed.

It is not clear whether this new initiative will become a mainstay in Snapchat’s advertising strategy or not, but with the company receiving an estimated 3 billion video views per day, it could be something users see more of in the future.

In recent months, Snapchat launched its Sponsored Lens concept, which allows a custom filter for selfies that helps users make the self-snapshot cooler looking, more likely to be shared and (as the big plus for the advertiser that supports the filter) gets that shot seen by a viral audience.

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