Snapchat launched a set of new augmented reality (AR) and machine learning (ML) technologies on Wednesday at the 2024 IAB NewFronts event, with the goal of assisting companies and advertisers in reaching consumers on the social network through interactive experiences.
The business stated that it has invested in machine learning and automation to make it faster and easier for companies to generate AR try-on assets. Over the last several years, Snapchat has collaborated with firms such as Amazon and Tiffany & Co. to allow users to virtually try on various things within the app. The social network claims it has lowered the time required to produce these AR try-on assets, allowing marketers to easily convert more of their 2D product catalogs into try-on experiences.
Additionally, marketers can now build customized AR advertising using generative AI technology to generate bespoke lenses. Snapchat tells TechCrunch that with this new feature, marketers may use a simple text or picture cue to develop a customized machine learning model that can add realistic facial effects to a lens. Lenses with ML face effects may then be used to create AR advertisements on Snapchat.
Snapchat also unveiled AR Extensions, which will enable marketers to include AR lenses and filters into all of the app’s ad formats, such as dynamic product ads, snap ads, collection ads, commercials, and spotlight ads.
The business, which was an early user of AR technology, claims that, on average, more than 300 million individuals interact with AR experiences on its app each day.
The unveiling of the new tools for brands and advertisers comes only a few days after Snap announced a 21% rise in revenue for the first quarter of 2024 to $1.195 million, owing mostly to enhancements made to its advertising platform. The business also said that the number of small and medium-sized advertisers on Snapchat climbed by 85% year over year.
On Wednesday, Snapchat stated that it is focused on investing in its ad business and is “encouraged” by the rising demand.
The firm also revealed that it would develop a sports channel within Snapchat called the “Snap Sports Network.” The channel will include offbeat activities such as dog surfing, extreme ironing, water bottle flipping, and more. It will comprise both user-generated and scripted content presented by Snap Stars.
In addition, Snapchat is expanding its connection with Live Nation by launching a new Snap Nation Public Profile, which will include unique behind-the-scenes concert material. Snapchat will also curate stories from Live Nation concerts and festivals that include public posts from users.
