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Snap Inc. reported 52% revenue growth year-over-year in its third quarter with sports playing a significant part in its solid earnings. Still “early” in its sports timeline, Snap executives said they’re happy with the audience and revenue growth around premium sports content.
In September, more than 40% of the U.S. Gen Z population watched sports content on Snapchat. With fans forced to stay home to watch live events during the pandemic, Snapchat rolled out new immersive activations and experiences for fans to stay connected to sports.
Increased innovation coincided with a maturing monetization strategy that paid content partners 85% more than the same quarter last year. With a wide offering of products and sports’ high visibility for advertisers, Snap is quickly expanding its dynamic, personalized ads and augmented reality partnerships.
Snap Sports Snapshot:
40% of U.S. Gen Z population watched sports.
20% more engagement than last season on the NBA highlights channel.
80% July to September increase for “SportsCenter” viewership on Snapchat.
