Snapchat Unveils New AR and ML Tools at 2024 IAB NewFronts
Snapchat has made a big splash at the 2024 IAB NewFronts event, introducing a host of new augmented reality (AR) and machine learning (ML) tools for advertising, partner programs, partnerships, and other solutions. The US multimedia instant messaging application revealed that its Q1 2024 revenue had grown by 21 percent year over year, thanks to platform enhancements such as the 7-0 Pixel Purchase optimization model, an updated Conversions API (CAPI), and additional campaign setup tools.
At the world’s largest digital content marketplace, IAB NewFronts, Snapchat showcased its platform to advertisers using “More Snapchat.” The company transformed the historic Cipriani 25 Broadway into an immersive experience using innovative multimedia projection mapping technology, capturing the spirit and vibrancy of Snapchat.
One of the highlights of Snapchat’s presentation was the introduction of new AR extensions that allow advertisers to integrate AR Lenses and Filters into all ad formats, including Snap Ads, Dynamic Product Ads, Commercials, and Spotlight Ads. This enables advertisers to draw attention to their products and increase branding exposure through augmented reality advertisements on Snapchat.
Additionally, Snapchat has invested in machine learning and automation to streamline AR asset creation, making it quicker and easier for brands to convert 2D product catalogs into try-on experiences. The company has also introduced ML Face Effects, which enables brands to create custom-produced Lenses using generative AI technology, providing users with unique and realistic face effects and selfie experiences.
In terms of partnerships, Snapchat has teamed up with actress and writer Issa Rae and her company Ensemble to enhance the 523 creator accelerator program. The company has also partnered with NBCUniversal for the Paris 2024 Olympic Games, planning to offer new AR experiences that will immerse Snapchatters in NBC’s coverage of the games.
Snapchat’s sports partnerships with the NFL, NBA, and WNBA will provide official content within Stories and Spotlight, while the launch of the Snap Sports Network sports channel will cover unusual sports like extreme ironing and dog surfing. Additionally, Snapchat is launching Snap Nation with Live Nation to give users access to festival and tour experiences.
With the introduction of Sponsored AR Filters in March, brands can now place adverts in the post-capture Filter Carousel, expanding their reach beyond the pre-capture Lens Carousel and tapping into the potential of the five billion Snaps created every day. Snapchat’s new augmented reality advertising solutions are set to revolutionize the way brands engage with users on the platform, offering innovative and immersive experiences for both advertisers and Snapchatters alike.
