Snap sees huge growth potential in Indian market
MUMBAI: Digital content company Snap dwelt on its strategy and plans for Asia and India at the M&E conclave APOS 2019. Snap MD international markets Nana Murugesan noted that India is a major growth market.
The company is working with 20 content partners in India and has localised in four languages. It is also looking at partnerships with telcos. On the content front, it is focussing on opportunities in cricket and the elections.
Murugesan clarified that Snap is not a social media company. “We are a mobile-native, camera-native, privacy-first company.”
The company has 190 million daily active users worldwide. Murugesan touted the platform’s reach and appeal among Gen Z noting that in markets like the US, the UK, Canada, France, and Australia, it is larger in terms of reach with the Gen Z demographic—13 to 24—than Facebook or Instagram. “We also have significant strength in the Nordics and the Middle East.”
Snap’s revenue model includes the ten-second, skippable Snap Ads and six-second, non-skippable commercials. Content targets an attention-discriminate audience. These users Murugesan explained look at their phones more than 100 times a day. They do not watch content in one shot.
“We look at the three-second rule; if you can’t capture the audience within three seconds, it’s probably not going to do well on our platform. Storytelling is a creative collaboration with our partners,” he noted.