Snapchat, the now-you-see-it-now-you-don’t messaging app that millennials love, has lowered it’s ad prices–but it’s still expensive and for only the biggest budgets.
Apparently it isn’t easy to get a clear answer on just how much an ad might cost, at least that was what Venture Beat found when they poked around. And that doesn’t seem surprising; Evan Spiegel, CEO of Snapchat (pictured left) has often been the point man for controversies.
Venture Beat cites two unnamed sources when reporting that it costs a minimum of $100,000 to launch any kind of campaign on Snapchat. That’s probably because the site’s enthusiastic users are viewing six billion–yup, that’s 6,000,000,000–short videos every day; the app has 100 million active daily users; and 63% of those are 18-34 year olds. But as pricey at $100,000 seems, a year ago the minimum cost to advertise was seven times what it is now, or $700,000. But don’t worry about Snapchat’s revenue: Advertisers can buy what they are calling Sponsored Lenses, and the Financial Times said during a holiday like Halloween those cost $750,000 per day. Re/code said the ad unit costs $500,000 on weekdays and $550,000 on weekends.
But Venture Beat reminds advertisers: “Snapchat is best for exposing brands to numbers of young adults and large media brands have the most to gain from the platform right now. Snapchat is less geared toward brands looking for performance marketing, i.e. click-throughs.” So contemplate your marketing goals before you snap up advertising space on Snapchat.