At the 2024 IAB NewFronts event, Snapchat made a big splash with the announcement of new augmented reality (AR) and machine learning (ML) tools for brands and advertisers. The social network revealed that it has been investing in ML and automation to make it easier for brands to create AR try-on assets. This development will allow brands to quickly turn their 2D product catalogs into interactive try-on experiences.
Snapchat also introduced branded AR ads with generative AI technology, enabling brands to create custom Lenses with realistic face effects. These Lenses can be used as AR ads on the platform, providing a new way for advertisers to engage with users.
In addition to these new tools, Snapchat unveiled AR Extensions, which will allow advertisers to integrate AR Lenses and filters into all of the app’s ad formats. This includes Dynamic Product Ads, Snap Ads, Collection Ads, Commercials, and Spotlight Ads.
The company’s focus on AR technology has paid off, with over 300 million people engaging with AR experiences on Snapchat every day. This announcement comes on the heels of Snap reporting a 21% increase in revenue for Q1 2024, driven by improvements to its advertising platform.
Snapchat also announced the launch of the “Snap Sports Network,” a sports channel within the app that will cover unconventional sports like dog surfing and extreme ironing. The channel will feature user-generated and scripted content hosted by Snap Stars, expanding the platform’s content offerings.