Ahead of its first-ever earnings call later today, Snap has unveiled a few changes to its Snapchat image- and video-sharing app that could help boost appeal to marketers and better compete with rivals, including Facebook-owned Instagram.
The new features enable users to loop videos for repeated play or to re-view an incoming Snap for as long as they like without the normal automatic deletion kicking in after one viewing. Yesterday, the company also added a new creativity tool, Magic Eraser, that lets users edit objects from their Snaps before sending.
Snap, which completed its initial public offering of stocks in March, is scheduled to hold its first quarterly conference call today to announce its first-quarter earnings for 2017. The company is expected to post a loss for the quarter, and has seen its share values decline from their post-IPO peak, although they’re still trading higher than the $17-per-share price of the initial public offering.
Service Continues To Evolve
Launched in 2011, Snapchat (the company rebranded as “Snap” last year) initially appealed largely to younger users who enjoyed the app’s ephemeral quality: photos and short videos sent using the app disappeared automatically after being viewed by recipients.
Over time, however, the company introduced new tools and features aimed at engaging users in new ways that also appealed to marketers. They included new products such as Stories, Memories, Lenses and, most recently, Spectacles, camera-equipped sunglasses that allow users to more easily capture and share 10-second snaps.
The new features announced yesterday include a Loop tool that lets users specify if the Snaps they send play once or loop repeatedly until the recipients are ready to close them. And the infinity setting allows viewers to view Snaps without time limits. With the infinity setting, recipients can view photos or videos as long as they…