Snapchat has launched a series of new ad offerings in a bid to convince advertisers that the platform is worth their investment. The platform is positioning itself as “the home of real relationships,” focusing on providing personal connections rather than viral trends.

The offerings include the First Story, allowing brands to reserve the first video ad that Snapchatters see between friend stories, and ads in Spotlight, which allows advertisers to reach more than 350 million users each month.

Snapchat is also introducing the Snap Star Collab Studio, which enables brands to work with creators.

However, while marketers are encouraged by these updates, they note that there has been little outreach to promote the new ad placements, and the pricing and targeting exclusions remain unknown.

Despite a decline in revenue during Q1 2023 earnings call, Snap achieved a 15% increase in daily active users year-over-year, but still faces competition from Instagram and TikTok.

Categorized in: