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Snap Inc.'s (SNAP) New Augmented Reality "World Lenses" Could Lead to More Marketing Dollars
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Snap Inc. (SNAP - Free Report) introduced its new “World Lenses” that allow users to send photos or videos with special effects added onto the background of any location or setting in a further push into the world of augmented reality.
Snap announced on Tuesday that its users would now be able to alter any photo or video by adding 3D objects and text, such as a crying cloud or a giant moving OMG, to any scene with the use of their rear-facing smartphone camera. The new, non-selfie Snapchat lenses encourage users to “paint the world around you with new 3D experiences,” according to Snap’s official announcement.
Snap users simply tap the screen in order to look through available World Lenses, which will be updated and changed on a daily basis. Users can then add them to any photo or video in real time. Users will also be able to walk through, under, or over any 3D objects they place in their surrounding by simply looking at their phone.
Snapchat first introduced its selfie lenses, which enable users to cover their faces with puppy masks, swap faces with friends, and a laundry list of other mostly goofy features, over a year ago.
Evan Spiegel’s company did not use the phrase “augmented reality” in Tuesday’s announcement or the accompanying video, but much like the once-ubiquitous Pokémon Go, the new lenses do just that—augment the real world with virtual displays in real time.
The introduction of Snapchat’s second-generation augmented reality feature comes at a time when the newly publicly-traded company remains under siege from Facebook Inc. and its photo sharing app Instagram for domination among the coveted millennial demographic.
According to a Wall Street Journal report, there are no initial sponsors for Snapchat’s new World Lenses. But it seems highly unlikely that this is a long-term strategy since Snapchat’s first lenses quickly became popular and spawned an array of money-making corporate sponsorship opportunities.
Money Making Potential
Brands have a wide range of potential uses for the new augmented reality feature on the disappearing photo and video app.
It isn’t hard to imagine Yum! Brands, Inc.’s (YUM - Free Report) Taco Bell—an early Snapchat adopter that quickly tapped into its youthful marketing potential—paying for users to be able to place floating tacos above their friends’ heads.
Aside from sponsored world lenses, another potential money making opportunity for Snap is the ability to obtain more user data. Just last week, Snap planned to fully roll out its “Snap to Store” tool that enables marketers to see if Snapchat ads or sponsored lenses actually lead to real sales.
Snap’s introduction of the new rear-facing camera augmented reality filters could potentially lead to more non-selfie pictures, which very well could provide the app maker with more geographical information, as well as greater insight into what products users surround themselves with.
Snap’s stock price was up 2.21% to $20.38 per share through morning trading on Tuesday. Snap is currently a Zacks Rank #3 (Hold). Snap announced that it is set to host its first quarterly earnings call on May 10.
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Snap Inc.'s (SNAP) New Augmented Reality "World Lenses" Could Lead to More Marketing Dollars
Snap Inc. (SNAP - Free Report) introduced its new “World Lenses” that allow users to send photos or videos with special effects added onto the background of any location or setting in a further push into the world of augmented reality.
Snap announced on Tuesday that its users would now be able to alter any photo or video by adding 3D objects and text, such as a crying cloud or a giant moving OMG, to any scene with the use of their rear-facing smartphone camera. The new, non-selfie Snapchat lenses encourage users to “paint the world around you with new 3D experiences,” according to Snap’s official announcement.
Snap users simply tap the screen in order to look through available World Lenses, which will be updated and changed on a daily basis. Users can then add them to any photo or video in real time. Users will also be able to walk through, under, or over any 3D objects they place in their surrounding by simply looking at their phone.
Snapchat first introduced its selfie lenses, which enable users to cover their faces with puppy masks, swap faces with friends, and a laundry list of other mostly goofy features, over a year ago.
Evan Spiegel’s company did not use the phrase “augmented reality” in Tuesday’s announcement or the accompanying video, but much like the once-ubiquitous Pokémon Go, the new lenses do just that—augment the real world with virtual displays in real time.
The introduction of Snapchat’s second-generation augmented reality feature comes at a time when the newly publicly-traded company remains under siege from Facebook Inc. and its photo sharing app Instagram for domination among the coveted millennial demographic.
According to a Wall Street Journal report, there are no initial sponsors for Snapchat’s new World Lenses. But it seems highly unlikely that this is a long-term strategy since Snapchat’s first lenses quickly became popular and spawned an array of money-making corporate sponsorship opportunities.
Money Making Potential
Brands have a wide range of potential uses for the new augmented reality feature on the disappearing photo and video app.
It isn’t hard to imagine Yum! Brands, Inc.’s (YUM - Free Report) Taco Bell—an early Snapchat adopter that quickly tapped into its youthful marketing potential—paying for users to be able to place floating tacos above their friends’ heads.
Aside from sponsored world lenses, another potential money making opportunity for Snap is the ability to obtain more user data. Just last week, Snap planned to fully roll out its “Snap to Store” tool that enables marketers to see if Snapchat ads or sponsored lenses actually lead to real sales.
Snap’s introduction of the new rear-facing camera augmented reality filters could potentially lead to more non-selfie pictures, which very well could provide the app maker with more geographical information, as well as greater insight into what products users surround themselves with.
Snap’s stock price was up 2.21% to $20.38 per share through morning trading on Tuesday. Snap is currently a Zacks Rank #3 (Hold). Snap announced that it is set to host its first quarterly earnings call on May 10.
If you want to know more about Snapchat’s fight against its competition read: As Snapchat IPOs, Its Competition Is Stealing Its Best Ideas.
Sell These Stocks. Now.
Just released, today's 220 Zacks Rank #5 Strong Sells demand urgent attention. If any are lurking in your portfolio or Watch List, they should be removed immediately. These sinister companies because many appear to be sound investments. However, from 1988 through 2016, stocks from our Strong Sell list have actually performed 6X worse than the S&P 500.
See today's Zacks "Strong Sells" absolutely free >>