Some people don’t really know what to do with Snapchat. Younger demographics seem to love it, but they’ve had some trouble finding reliable revenue streams. This year they launched a revolutionary new feature that has been seriously changing that. Brands can pay up to $750,000/day to have a special branded selfie filter that users can make their own selfies with and post to the network. They also have ads in the Live Stories section, which has added to their revenue. This year Snapchat is set to make $100 million in revenue.
However, they are about to become even more relevant with breaking news features, which is surprising for a social network that has become more known for sharing silly pics and nude photos than anything else. On the day of the recent San Bernardino shootings, Snapchat aggregated the up to the minute public updates coming from users into a “Story,” giving users current information. The best thing about Snapchat is that since it’s content disappears after a time, any misinformation will soon disappear as well – squashing pesky rumors before they’ve gotten too much of a chance to get off the ground. This is interesting since other social networks seem to easily perpetuate any type of myth such as quotes attributed to the wrong person, all the way to misinformation about breaking news events.
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