Snap is slowly growing, but it’s banking on augmented reality to sustain it
CEO Evan Spiegel detailed how important AR will be for the company’s future. Spiegel says every daily active user interacts with a Snap AR product nearly 30 times a day on average. These come in the form of AR Lenses and filters that place masks or virtual elements on the user’s face or in their environment. He also notes that the Snap community has created more than 600,000 Lenses.
Spiegel also says the company is looking to integrate AR wearables into its lineup within the next seven to 10 years, starting with its third-generation Spectacles glasses, which the company introduced in August. The glasses come with an added camera so that people can overlay these AR effects on their content, and they go on sale in November.
In the more immediate term, the company says it expects “significant” potential revenue to come from AR advertisements, and it’s focusing on scaling its platform to make AR more personalized and to help the company make money from the technology.
See the full story here: https://www.theverge.com/2019/10/22/20927521/snap-growth-earnings-ceo-user-ar-augmented-reality