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Snapchat is trying to attract TV money
March 29, 2016
Snapchat's photos and videos are famous for disappearing after a few seconds, but its users are spending as much as a half-hour every day playing with its app.
The company is touting the time users spend on the app in its efforts to lure big brand advertising dollars away from television.
Snapchat is telling potential advertisers that its worldwide daily active users, which at last count stood at more than 100 million, now spend an average of 25-30 minutes a day on Snapchat, a source with knowledge of the pitch told Business Insider.
Of those using it every day, 60% are also creating new content, whether it's a photo or chatting friends, so it's not just people passively watching, Snapchat is telling advertisers.
A Snapchat spokesperson confirmed the numbers.
In order to make itself attractive to the traditional TV spenders, Snapchat has turned to measuring the ads it shows on its app with metrics similar to those used for measuring television advertisements.
In February, the company signed a deal with Nielsen to track its ads using GRPs, or gross ratings point, a standard in the advertising industry. Later that month, its CEO, Evan Spiegel, used the 25-30 minute statistic to attract investors at the Morgan Stanley technology conference, according to Bloomberg.
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