Snapchat launches new AR and ML tools for brands and advertisers | TechCrunch

At the 2024 IAB NewFronts event on Wednesday, Snapchat announced a series of new augmented reality (AR) and machine learning (ML) tools designed to help brands and advertisers reach users on the social network with interactive experiences. of.

The company said it is investing in ML and automation to make it faster and easier for brands to create AR try-on assets. Over the years, Snapchat has worked with companies like Amazon And Tiffany & Co. Allowing users to virtually try different products in the app. The social network says it has now reduced the time it takes to create these AR try-on assets, which will allow brands to quickly transform their 2D product catalogs into try-on experiences.

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Image Credit: snapchat

Additionally, brands can now create branded AR ads with generative AI technology to create custom lenses. Snapchat told TechCrunch that with this new capability, brands can provide a simple text or image prompt to generate a unique ML model that can add realistic facial effects to Lenses. These ML face effect lenses can be used as AR ads on Snapchat.

Snapchat also announced AR Extensions, which will allow advertisers to integrate AR lenses and filters directly into all of the app’s ad formats, including Dynamic Product Ads, Snap Ads, Collection Ads, Ads, and Spotlight Ads.

The company, which has been an early adopter of AR technology, says on average more than 300 million people engage with AR experiences on its app every day.

The launch of new tools for brands and advertisers comes days later SNAP reported Its revenue increased 21% to $1.195 million in the first quarter of 2024, mainly due to improvements made to its advertising platform. The company also shared that the number of small and medium-sized advertisers on Snapchat has increased by 85% year-over-year.

Snapchat said Wednesday it is focused on investing in its advertising business and is “encouraged” by growing demand.

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Image Credit: snapchat

The company also announced that it was launching a sports channel within Snapchat called “Snap Sports Network”. The channel will cover unconventional sports, such as dog surfing, extreme ironing, water bottle overturning, and more. It will include scripted content as well as user-generated content hosted by Snap Stars.

Additionally, Snapchat is expanding its partnership with Live Nation with the launch of a new Snap Nation public profile, which will include exclusive behind-the-scenes content from the concerts. Snapchat will also curate stories from users’ public posts from Live Nation concerts and festivals.