The newly introduced bidding option will allow advertisers to optimize their content for fifteen-second video views. As well as this, Snap Ads will now be able to run up to three whole minutes in duration - in the past, the maximum length allowed was just ten seconds, so that's a relatively massive hike.
There isn't going to be any change to how users interact with Snap Ads, they'll still be able to skip ads in exactly the same way they always have. The move is aimed purely at making it possible for advertisers to run longer ads on the platform.
Snap didn't quite stop there when it came to rolling out the new features, however. Advertisers have also been given Goal-Based Bidding so that they can optimize for fifteen-second video views. The idea behind Goal-Based Bidding seems to be by way of delivering a new level of ad engagement and making the platform more effective for advertisers.
So what? I hear you say - another dawn, another social media platform update, right? Well, this one is relatively significant and marks what is perhaps a reaction by Snapchat to the changing face of its user base. Snap itself has reported that there's a growing audience watching longer videos - and longer-form video ads drive better engagement - even if Snap has been known for its ephemeral content up until this point in time.
Given Snapchat claims to have a user base which comprises of 75% 13-34-year-olds in the United States, there's the potential for the platform to aim for a massive slice of the video advertising market after this move. It won't be an opportunity lost on the many advertisers and businesses who stand to benefit from opening up that demographic to longer, more effective ads. Do you guys think this is a hugely significant tactical pivot for Snapchat? Who stands to gain most - and who might the losers be?