Snap Originals will be available on the Discover page to Snapchat users globally, or by searching for the title using Snapchat’s Search feature. Snap is also introducing new product features that will make it easier for viewers to discover, watch and interact with Originals and all Shows on Snapchat. Every Show will have a dedicated profile page where Snapchatters can easily find all available episodes and seasons to watch at once. Each episode averages five minutes in length and brands can purchase ‘Commercials’ within Shows, Snap’s recently launched six-second, non-skippable ad format.
Snap has created portal Lenses for several of its shows, enabling users to swipe up from an episode of the Show and literally walk into a scene and interact with the objects and characters to deepen their experience. It has also developed custom interactive Lenses, including reaction Lenses for some of the shows’ most riveting scenes that will enable and encourage Snapchatters to share the show experience with their friends.
In addition, Snap also announced NBCUniversal extended its content production commitments through 2019, and Viacom has committed to creating 10 new Snap Originals. Viacom also committed to syndicating at least 500 episodes of its network’s shows to the Snapchat audience.
About Snap Inc.
Wall Street analyst on Thursday slashed his price target on shares but reiterated a buy rating on hopes of a turnaround similar to what Twitter (TWTR) achieved.
Goldman Sachs analyst Heath Terry cut his price target on Snap (SNAP) to 11, from 17. But Snap stock has hit a succession of record lows since dropping below its 50-day moving average two months ago. A price target of 11 is still a 63% premium from where the stock currently trades.
Snap stock has been in gradual decline ever since the company held its initial public offering in March 2017. “While we clearly have been wrong on Snap’s ability to execute, we continue to believe that a Twitter-like turnaround is possible, particularly as its new Android app comes out later this quarter,” Terry wrote in a research note to clients.