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SNAP's Snapchat Rolls Out Run for Office Mini for Gen Z
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Snap Inc.’s (SNAP - Free Report) social media platform Snapchat recently launched Run for Office Mini, an in-app tool, to create awareness of the democratic setup in the United States to inspire the citizens to become election candidates.
The Run for Office Mini is enabled with database from BallotReady on more than 75,000 forthcoming elections at the federal, state and local levels. Snapchat users can certainly look out for potential opportunities of becoming election candidates, based on the important issues from the organizations like, City Neighborhood Board and the Township Council to School Board and State Representative.
A Snapchatter can access Run for Office through Snapchat, scrolling down on the camera screen for accessing in-app games, known as Minis or by searching Run for Office on the Snapchat platform.
This effort is likely to have positive effects on the democratic structure. It will guide young users through training programs, help them know the steps for starting a campaign, nominate friends whom they see as future leaders and also run a personalized campaign though the My Campaign Dashboard feature by filling in the deadlines and signature requirements and accessing the contact information for local election offices.
The company is also forging a partnership with the Center for Information and Research on Civic Learning and Engagement at Tufts University’s Tisch College to give a boost to this effort.
Currently, only 6% state legislators are under the age of 35, which makes the emergence of young leaders even more crucial. The Snapchat platform already reached 90% of people who are aged within 13-24 years.
So, through this Run for Office initiative, it is quite likely that young and updated people will contest for elections.
Robust Feature Updates of Snapchat Likely to Boost User Base
Snap is constantly benefiting from a spike in the usage of Snapchat. The growing adoption of Snapchat among Gen Z (13-24 years) is expected to drive daily active users in the near term. It is a larger platform than Facebook , Instagram and Twitter among this demography.
While DAU increased 23% to reach 293 million, ARPU soared 76% to $3.35 in the second quarter of 2021 on a year-over-year basis. Both metrics are likely to surge in the near terms as well, driven by its constant feature updates on Snapchat.
The Snapchat platform introduced a feature called My Places to its base. This feature will recommend a user the sought-after places to visit on Snap Map along with other necessary details. Recommendations of the sites will be based on the current location of the user, usual activities and the location on the map plus the kind of places a user saved as favorites. With this new aspect, the user will also get a detailed review along with other details regarding a place.
Based on the users’ shared locations, information about the location-based traffic will also be posted. The My Places feature also helps users find out 30 million businesses.
The primary purpose of this feature is to offer a distinctive location-based experience to the users to serve their needs.
Snapchat launched another feature called Birthdays Mini to inform the users about birthdays of friends on the application. This resembles the feature, which Facebook provides on its social media platform. Through this, users will be able to see the birthdays by tweaking the settings, per the date or by zodiac signs.
This apart, Snap is actively engaging in the Augmented Reality Market. Per a MarketsandMarkets report, the global Augmented Reality Market was valued at $14.7 billion in 2020 and is expected to reach $88.4 billion by 2026, seeing a CAGR of 31.5%.
In the first quarter of 2021, Snap had above 200 million daily users for its AR lenses. The number is likely to increase through some feature updates on the same.
Snapchat introduced filters/lenses on its interface, which enable its users to share photos and videos with their friends. The filters are themed on International Friendship Day 2021, which can be unlocked and utilized for a limited period of time. It also includes AR (Augmented Reality) games to be played by using the camera.
This presently Zacks Rank #3 (Hold) company’s partnership with the cross-platform game engine Unity Software (U - Free Report) to extend the latter’s Ad supply reach among the Snapchat advertisers is expected to have attracted ad revenues in the to-be-reported quarter.
Image: Bigstock
SNAP's Snapchat Rolls Out Run for Office Mini for Gen Z
Snap Inc.’s (SNAP - Free Report) social media platform Snapchat recently launched Run for Office Mini, an in-app tool, to create awareness of the democratic setup in the United States to inspire the citizens to become election candidates.
The Run for Office Mini is enabled with database from BallotReady on more than 75,000 forthcoming elections at the federal, state and local levels. Snapchat users can certainly look out for potential opportunities of becoming election candidates, based on the important issues from the organizations like, City Neighborhood Board and the Township Council to School Board and State Representative.
A Snapchatter can access Run for Office through Snapchat, scrolling down on the camera screen for accessing in-app games, known as Minis or by searching Run for Office on the Snapchat platform.
This effort is likely to have positive effects on the democratic structure. It will guide young users through training programs, help them know the steps for starting a campaign, nominate friends whom they see as future leaders and also run a personalized campaign though the My Campaign Dashboard feature by filling in the deadlines and signature requirements and accessing the contact information for local election offices.
The company is also forging a partnership with the Center for Information and Research on Civic Learning and Engagement at Tufts University’s Tisch College to give a boost to this effort.
Currently, only 6% state legislators are under the age of 35, which makes the emergence of young leaders even more crucial. The Snapchat platform already reached 90% of people who are aged within 13-24 years.
So, through this Run for Office initiative, it is quite likely that young and updated people will contest for elections.
Snap Inc. Price and Consensus
Snap Inc. price-consensus-chart | Snap Inc. Quote
Robust Feature Updates of Snapchat Likely to Boost User Base
Snap is constantly benefiting from a spike in the usage of Snapchat. The growing adoption of Snapchat among Gen Z (13-24 years) is expected to drive daily active users in the near term. It is a larger platform than Facebook , Instagram and Twitter among this demography.
While DAU increased 23% to reach 293 million, ARPU soared 76% to $3.35 in the second quarter of 2021 on a year-over-year basis. Both metrics are likely to surge in the near terms as well, driven by its constant feature updates on Snapchat.
The Snapchat platform introduced a feature called My Places to its base. This feature will recommend a user the sought-after places to visit on Snap Map along with other necessary details. Recommendations of the sites will be based on the current location of the user, usual activities and the location on the map plus the kind of places a user saved as favorites. With this new aspect, the user will also get a detailed review along with other details regarding a place.
Based on the users’ shared locations, information about the location-based traffic will also be posted. The My Places feature also helps users find out 30 million businesses.
The primary purpose of this feature is to offer a distinctive location-based experience to the users to serve their needs.
Snapchat launched another feature called Birthdays Mini to inform the users about birthdays of friends on the application. This resembles the feature, which Facebook provides on its social media platform. Through this, users will be able to see the birthdays by tweaking the settings, per the date or by zodiac signs.
This apart, Snap is actively engaging in the Augmented Reality Market. Per a MarketsandMarkets report, the global Augmented Reality Market was valued at $14.7 billion in 2020 and is expected to reach $88.4 billion by 2026, seeing a CAGR of 31.5%.
In the first quarter of 2021, Snap had above 200 million daily users for its AR lenses. The number is likely to increase through some feature updates on the same.
Snapchat introduced filters/lenses on its interface, which enable its users to share photos and videos with their friends. The filters are themed on International Friendship Day 2021, which can be unlocked and utilized for a limited period of time. It also includes AR (Augmented Reality) games to be played by using the camera.
This presently Zacks Rank #3 (Hold) company’s partnership with the cross-platform game engine Unity Software (U - Free Report) to extend the latter’s Ad supply reach among the Snapchat advertisers is expected to have attracted ad revenues in the to-be-reported quarter.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.