WEBVTT - Snapchat's Quest for Olympic Gold Relies on Creators 0:00:07.360 --> 0:00:10.840 Welcome to another episode of Strictly Business, the podcast in 0:00:10.880 --> 0:00:13.120 which we speak with some of the brightest minds working 0:00:13.160 --> 0:00:17.360 in the media business today. I'm Andrew Wallenstein with Variety. 0:00:17.920 --> 0:00:21.320 The Olympics are in full swing. For those following along 0:00:21.360 --> 0:00:24.320 outside of Paris, you may have noticed a change from 0:00:24.360 --> 0:00:28.600 Summer Games past. NBC has loosened its restrictions on what 0:00:28.800 --> 0:00:32.680 video gets on social media, and it's letting influencers in 0:00:32.760 --> 0:00:36.360 on the action. Snapchat is among those partnering to cover 0:00:36.440 --> 0:00:39.280 the Paris Olympics, and here to talk about its approach 0:00:39.360 --> 0:00:42.479 to the event and the creator economy in general, is 0:00:42.840 --> 0:00:47.400 Jim Shepperd, director of Content and Global Creator Partnerships. More 0:00:47.440 --> 0:01:04.160 with him after this, we are back with Jim Shephard Snap. 0:01:04.360 --> 0:01:07.640 While he's here talking in Los Angeles with me. Snap 0:01:07.680 --> 0:01:10.640 has dispatched some of its best and brightest to Paris 0:01:10.920 --> 0:01:14.640 to cover the Olympics like never before. Thanks for coming in, Jim. 0:01:14.680 --> 0:01:16.479 Thanks so much for having me. It's great to be here. 0:01:16.640 --> 0:01:20.919 Cool. So this isn't Snap's first time at the Olympics, 0:01:21.520 --> 0:01:25.520 so give me a sense broadly of what's different this 0:01:25.600 --> 0:01:29.680 time around in terms of Snap's presence at the Games. Yeah. 0:01:29.720 --> 0:01:32.360 So We're super excited to have a great presence at 0:01:32.400 --> 0:01:36.880 the Paris Games this year. You know, it's such a 0:01:36.880 --> 0:01:40.600 great example of a three to sixty partnership where we 0:01:40.640 --> 0:01:43.480 can work with an amazing broadcaster like an NBC who 0:01:43.560 --> 0:01:45.760 has some of the most valuable ip in the world. 0:01:46.360 --> 0:01:49.320 We've worked with NBC on the Olympics since twenty sixteen, 0:01:49.440 --> 0:01:52.960 since the Rio Games, and we've built on that partnership 0:01:52.960 --> 0:01:55.400 ever since. And you know, this year we're going to 0:01:55.480 --> 0:01:59.160 have like I'm NBC making content like around the Games, 0:01:59.200 --> 0:02:03.480 that is I'm sold in a package for our advertisers. 0:02:04.000 --> 0:02:06.960 They are going to be using our in house creative 0:02:06.960 --> 0:02:10.400 studio to make lenses that are available globally. Uh so 0:02:10.440 --> 0:02:13.480 you can wear your country's colors on your face, which 0:02:13.520 --> 0:02:15.959 is really exciting. And this year, for the first time, 0:02:16.000 --> 0:02:20.000 we're actually taking creators to the Games to make behind 0:02:20.000 --> 0:02:25.960 the scenes content almost as as hosts for Snapchat with 0:02:26.480 --> 0:02:30.799 this content. We have them Livvy Dunn, we have Harry Jouse, 0:02:31.000 --> 0:02:32.640 we have them Kai Sanat, who are some of the 0:02:32.639 --> 0:02:35.000 biggest creators in the world who are going to be there, 0:02:35.200 --> 0:02:38.960 you know, sharing their perspectives and then their content is 0:02:39.040 --> 0:02:41.800 part of the NBC package. So we're super excited about this, 0:02:41.880 --> 0:02:44.800 and I think it's just such a great example of 0:02:44.880 --> 0:02:47.840 how we can work with a partner like an NBC, 0:02:48.639 --> 0:02:51.040 like around a big tent pole to make something that's 0:02:51.080 --> 0:02:53.320 really meaningful for the snap community. 0:02:53.760 --> 0:02:57.799 So obviously, you know, livvy Kai, these people if you're 0:02:58.000 --> 0:03:02.720 under eighteen household name in Olympics past, where these people 0:03:02.919 --> 0:03:05.640 allowed anywhere near the action, what was it like? 0:03:06.560 --> 0:03:10.440 Yeah, I think there's definitely been an evolution of the 0:03:10.560 --> 0:03:13.839 perspective of not only NBC but some of our top 0:03:13.880 --> 0:03:18.160 broadcasting partners. And I think for NBC, I mean, Snapchat 0:03:18.240 --> 0:03:20.359 is a great way to reach gen z. I mean 0:03:20.400 --> 0:03:23.880 we reach ninety percent of thirteen to twenty four year 0:03:23.880 --> 0:03:26.919 olds in over twenty countries, and so you know, for them, 0:03:27.080 --> 0:03:30.160 I think it's a really exciting opportunity to reach young people, 0:03:30.639 --> 0:03:34.000 and for us, I think it's a great way to 0:03:34.160 --> 0:03:37.000 just kind of drive one of these three sixty partnerships 0:03:37.040 --> 0:03:41.080 in you know, ways that that you know include behind 0:03:41.120 --> 0:03:44.400 the scenes content from the broadcaster, but also creators and 0:03:44.480 --> 0:03:47.840 also you know, lenses, and so it's just a great 0:03:47.920 --> 0:03:50.200 way that we can work with them and expand on 0:03:50.240 --> 0:03:52.480 the partnership that we've done for over, like I'm eight 0:03:52.720 --> 0:03:53.640 eight years now. 0:03:54.000 --> 0:03:57.120 So give an example, whether it's Livy or Kai. When 0:03:57.160 --> 0:04:00.480 you're talking about behind the scenes content, like what is 0:04:00.560 --> 0:04:05.000 the style of let's call it coverage that we could 0:04:05.000 --> 0:04:07.560 expect that might be different than you might see on 0:04:08.000 --> 0:04:10.640 old fashioned TV? Like what do they bring to the tape? 0:04:10.640 --> 0:04:13.320 I think what's really, you know, kind of important to 0:04:13.360 --> 0:04:16.440 note is that Snapchat doesn't start with social media. It 0:04:16.600 --> 0:04:19.320 starts with hundreds of millions of people coming in every 0:04:19.400 --> 0:04:22.239 day to talk to their friends, and so it's built 0:04:22.240 --> 0:04:25.760 on real relationships, and then we've built a content ecosystem 0:04:26.360 --> 0:04:29.560 on top of that. And when I watch content from 0:04:29.560 --> 0:04:32.120 our creators or from our partners, I feel like those 0:04:32.160 --> 0:04:35.360 creators are my friends and they're sending me kind of 0:04:35.400 --> 0:04:39.000 this very personal, authentic content. I mean. A great example 0:04:39.200 --> 0:04:43.360 is the men's USA basketball team was in London recently. 0:04:43.440 --> 0:04:46.400 They were they had an exhibition with South Sudan, which 0:04:46.400 --> 0:04:50.279 they almost lost to. But Jason Tatum, who's on Snapchat, 0:04:51.160 --> 0:04:53.919 he was posting because the team took the tube to 0:04:53.960 --> 0:04:56.559 the game, and so you had like all of these 0:04:56.800 --> 0:04:59.320 big men's basketball players on one of the train cars 0:04:59.320 --> 0:05:02.120 and you saw you know, everyday people coming home from work, 0:05:02.160 --> 0:05:03.840 and they were like, you don't see this every day. 0:05:04.400 --> 0:05:06.760 And he posted a snap on his snapchat of all 0:05:06.800 --> 0:05:09.520 of the players and they barely fit in this train. 0:05:10.000 --> 0:05:12.760 And so it felt like a snap from watching his story, 0:05:12.880 --> 0:05:15.760 almost like a snap that one of my friends sent me. 0:05:15.800 --> 0:05:18.080 If one of my best friends was like, I'm NBA 0:05:18.160 --> 0:05:21.840 champion Jason Tatum, and so it's definitely, you know, snapchat 0:05:22.360 --> 0:05:25.920 feels like an ant not an or. It's it's you know, 0:05:26.360 --> 0:05:30.000 content that feels very natural, and it feels like I'm 0:05:30.080 --> 0:05:33.839 kind of living these stars, lives with them, and so 0:05:33.960 --> 0:05:36.520 I think that's something that our community has really resonated with. 0:05:36.920 --> 0:05:39.280 So we should be clear this is not like, you know, 0:05:39.320 --> 0:05:41.920 you use the example of the South Sudan game, which 0:05:42.120 --> 0:05:44.640 I still can't get over, by the way, but it's 0:05:44.680 --> 0:05:48.320 not you're not watching, you know, whether it's Cai or 0:05:48.400 --> 0:05:51.840 who whatnot. They're not covering the game and saying, oh, 0:05:51.880 --> 0:05:54.640 they're down by one in the final seconds. It's not 0:05:54.880 --> 0:05:59.440 coverage of the action. It's lifestyle content, but done in 0:05:59.480 --> 0:06:01.960 a very different way than you might see on NBC. 0:06:02.200 --> 0:06:06.480 It's it's off kilter, it's behind the scenes and it's 0:06:06.520 --> 0:06:11.160 with a real kind of sensibility that is totally unique 0:06:11.200 --> 0:06:12.839 to the snap platform. 0:06:13.120 --> 0:06:16.240 Yeah, I think that that's definitely a culture that we've 0:06:16.240 --> 0:06:18.880 built over the last several years. I mean, our content 0:06:19.000 --> 0:06:22.479 ecosystem has two parts to it. It has Spotlight, which 0:06:22.520 --> 0:06:25.480 is like short form video, and then it has stories 0:06:25.520 --> 0:06:27.479 where people are posting all of this day in the 0:06:27.520 --> 0:06:30.919 life content. And Snapchat invented stories, right, and then you know, 0:06:31.040 --> 0:06:34.920 many platforms wanted to adopt the Stories product. But you know, 0:06:34.960 --> 0:06:39.599 I think it's it's easy for platforms to copy products, 0:06:39.680 --> 0:06:43.120 it's hard for platforms to copy culture. And I think 0:06:43.160 --> 0:06:45.280 you know something that we did a few years ago 0:06:45.480 --> 0:06:48.680 is we launched our Stories revenue share program, where it 0:06:48.760 --> 0:06:52.320 basically is a program where we insert ads in stories 0:06:52.320 --> 0:06:54.800 that are long enough, and we share revenue directly with 0:06:54.880 --> 0:06:58.440 the creators. Since we did that, we've seen this influx 0:06:58.480 --> 0:07:00.760 of creators come back to the platform, some have come 0:07:00.800 --> 0:07:04.320 for the first time, and they're posting these long, narrative 0:07:04.360 --> 0:07:07.960 driven stories. They're really leaning in to the authenticity and 0:07:08.000 --> 0:07:11.000 the spontaneity that make snapchats so fun, and they're just 0:07:11.040 --> 0:07:13.920 sharing their daily lives. And so I think it's it's 0:07:13.960 --> 0:07:17.520 a real extension of a platform that's built on relationships, 0:07:17.520 --> 0:07:19.840 and when you're watching this content, you feel like you 0:07:19.920 --> 0:07:22.800 have a relationship with these stars. And so I think 0:07:22.880 --> 0:07:25.760 that's been content that our community loves, and I think, 0:07:26.560 --> 0:07:30.240 like to your point, it's not about what happens on broadcast. 0:07:30.360 --> 0:07:33.880 There's definitely formats that are better for that. It's what's 0:07:33.880 --> 0:07:36.680 happening behind the scenes. It's about the energy and the 0:07:36.720 --> 0:07:40.120 emotion of the creators that are there. It's about the food, 0:07:40.280 --> 0:07:42.960 it's about the travel, it's about what people are wearing, 0:07:43.280 --> 0:07:47.640 you know, whether that's Coachella or or it's the super Bowl, 0:07:47.840 --> 0:07:50.360 or it's something like VM Olympics. I think, you know, 0:07:50.520 --> 0:07:53.760 we've really built an ecosystem where people go to get 0:07:53.840 --> 0:07:55.680 updated on what it's like to really be there. 0:07:56.280 --> 0:08:01.239 Now. From a business perspective with NBC and I guess 0:08:01.320 --> 0:08:05.400 the Olympics themselves, I understand the rationale of cutting you 0:08:05.440 --> 0:08:09.360 guys in. They want to get the younger generation, who 0:08:10.280 --> 0:08:12.240 may not be as engaged as some of the older 0:08:12.280 --> 0:08:15.400 generations in the summer Games, and it's critical to get 0:08:15.400 --> 0:08:18.600 the younger generations in there. Social media is the on 0:08:18.800 --> 0:08:21.880 ramp to make that happen. Hence Snap's got to be there. 0:08:22.240 --> 0:08:25.160 Other social platforms have to be there. I get that 0:08:25.520 --> 0:08:28.440 from a business perspective. How does it work in terms 0:08:28.440 --> 0:08:34.239 of your partnership with NBC. Is there a splitting of revenues? 0:08:34.400 --> 0:08:36.920 What how do you make that packaging work? 0:08:37.000 --> 0:08:40.359 Yeah, So going back, I mean, if you think about Snapchat, 0:08:41.040 --> 0:08:44.240 you know, from the beginning, our content ecosystem started with 0:08:44.320 --> 0:08:48.880 Discover with twelve media partners, and we've expanded it ever since, 0:08:48.920 --> 0:08:51.160 and now we have thousands of media partners all over 0:08:51.200 --> 0:08:54.199 the world who are making content for Snapchat, and we're 0:08:54.240 --> 0:08:56.560 sharing revenue with them, and you know, it's been a 0:08:56.600 --> 0:09:00.160 really substantial business model for them. And then you know, 0:09:00.280 --> 0:09:02.920 like I mentioned, you know, like a few years ago, 0:09:02.960 --> 0:09:07.200 we expanded that revenue sharing to creators and I think, 0:09:07.320 --> 0:09:10.760 you know, with the NBC partnership, it's an example about 0:09:10.760 --> 0:09:14.760 how we can package those things together around a big 0:09:14.800 --> 0:09:18.040 tent poll that our community loves, and then advertisers love 0:09:18.080 --> 0:09:21.400 to buy into that. So you know, for the NBC example, 0:09:21.640 --> 0:09:25.440 they're making like original content around the games. That's content 0:09:25.480 --> 0:09:28.120 that's in a package that then like advertisers can buy into. 0:09:28.760 --> 0:09:31.360 And now for the first time, these creators that are 0:09:31.400 --> 0:09:36.120 going are making content and then NBC can actually use 0:09:36.200 --> 0:09:39.640 that creator content to turn it into advertisements to actually 0:09:39.679 --> 0:09:43.800 promote their their broadcast. And so you know, this is 0:09:43.800 --> 0:09:46.839 a real example about how we've taken you know, many 0:09:47.000 --> 0:09:50.320 pieces of our content ecosystem that's been revenue generating for 0:09:50.360 --> 0:09:53.080 partners for years now, putting it together in a way 0:09:53.080 --> 0:09:54.120 that advertisers love. 0:09:54.520 --> 0:09:57.080 So, I mean, there's there's a bunch of different pieces 0:09:57.080 --> 0:10:00.760 of the puzzle besides Snap Obviously here there's we just 0:10:00.800 --> 0:10:04.080 talked about the media partner, you're talking about the advertiser, 0:10:04.280 --> 0:10:09.040 you're talking about the creator. The revenue piece of this 0:10:09.160 --> 0:10:14.560 for the creator is really interesting because in the creator economy, 0:10:14.800 --> 0:10:19.560 you know, revenue sharing is a controversial subject to say 0:10:19.600 --> 0:10:22.120 the least. And I'm not trying to single Snap out here, 0:10:23.520 --> 0:10:26.880 but it seems like there's been quite a tortured history 0:10:26.920 --> 0:10:31.480 across all these platforms in terms of revenue splits, so 0:10:31.600 --> 0:10:38.400 called creator funds, and incentivizing creators to get on platforms 0:10:38.880 --> 0:10:43.480 and participate. So what is the latest from Snap in 0:10:43.600 --> 0:10:47.760 what you guys do lay that out exactly, because there's 0:10:47.800 --> 0:10:49.520 probably been some evolution. 0:10:49.280 --> 0:10:52.520 There, Yeah, for sure, I mean, taking a step back, 0:10:52.600 --> 0:10:55.560 I mean, our philosophy is that we want to build 0:10:55.640 --> 0:10:59.959 a platform that's really great for creators in terms of 0:11:00.600 --> 0:11:05.120 the content they make and their ability to connect with fans, 0:11:05.160 --> 0:11:08.160 but also we want to reward them, and so we 0:11:08.240 --> 0:11:11.040 have a number of programs for creators to actually make 0:11:11.080 --> 0:11:14.079 money on the platform. We have our Spotlight Incentive program, 0:11:14.480 --> 0:11:18.440 we have programs for lens creators. The Story's Revenue Share 0:11:18.480 --> 0:11:21.840 program has been really substantial and it's something that I'm 0:11:21.880 --> 0:11:25.120 really proud of. We launched it in beta like a 0:11:25.120 --> 0:11:28.120 few years ago with just a handful of our Snapstars. 0:11:28.679 --> 0:11:31.560 We grew the program slowly and steadily ever since to 0:11:31.600 --> 0:11:35.559 make sure that as we added more creators, we weren't 0:11:36.280 --> 0:11:38.880 cannibalizing the program. For the creators that were in it, 0:11:39.559 --> 0:11:41.760 we were really happy by what we see, and then 0:11:41.800 --> 0:11:44.000 about a year and a half ago, we officially launched 0:11:44.040 --> 0:11:46.840 the qualifications for the program. You have to have like 0:11:46.920 --> 0:11:50.520 fifty thousand subscribers, you have to have so many you know, 0:11:50.720 --> 0:11:55.800 monthly views. And the creators that have joined since then, 0:11:55.840 --> 0:11:58.720 I mean, we only continue to rack up the success 0:11:58.720 --> 0:12:04.040 stories there that have built six figure, biggest six figure 0:12:04.080 --> 0:12:07.360 businesses on our platform. There's creators that have built seven 0:12:07.400 --> 0:12:11.320 figure businesses, and so this has been a really substantial program. 0:12:11.400 --> 0:12:13.600 And then I think what's really interesting the feedback that 0:12:13.640 --> 0:12:17.480 they've shared is they don't have to do anything they 0:12:17.520 --> 0:12:20.000 wouldn't normally do to make a living. They don't have 0:12:20.040 --> 0:12:23.120 to get expensive equipment, they don't have to edit long videos. 0:12:23.760 --> 0:12:27.880 And so the stories format, which we invented and now 0:12:27.960 --> 0:12:32.679 have infused with revenue share, has brought this culture of 0:12:32.840 --> 0:12:35.880 creators just really living their lives and then making a 0:12:35.880 --> 0:12:38.640 living doing it. And that's been really great to see. 0:12:39.160 --> 0:12:41.760 And I assume that's perhaps what you would cite as 0:12:41.800 --> 0:12:45.840 a competitive edge against the multiple and frankly, I would 0:12:45.840 --> 0:12:50.640 assume larger social platforms that are also handing out their 0:12:51.240 --> 0:12:57.600 various revenue splits or funds TikTok and Instagram and YouTube 0:12:57.640 --> 0:13:01.839 and whatnot. But I assume at the end of the day, 0:13:01.880 --> 0:13:05.840 also it's just money and just you know, are you 0:13:05.840 --> 0:13:07.960 guys able to compete on that front. 0:13:08.559 --> 0:13:10.960 I mean, here's what I'll say, we love this for 0:13:11.000 --> 0:13:15.079 our business, and you know, unlike a fund which is capped, 0:13:15.520 --> 0:13:20.240 these creators are posting and they're generating incremental ad inventory 0:13:20.280 --> 0:13:23.600 for us. They're making money for themselves. But they're also 0:13:23.679 --> 0:13:26.400 making money for Snap, and they're doing it in a 0:13:26.440 --> 0:13:30.240 way that they've told us they really like. And so 0:13:30.360 --> 0:13:32.320 look like we know that for this to work, we 0:13:32.400 --> 0:13:35.480 have to sell ads, but we're really confident in like 0:13:35.720 --> 0:13:38.280 our ability to do that, and we think this is 0:13:38.320 --> 0:13:40.680 a great business model for us. I mean, it's also 0:13:40.880 --> 0:13:45.160 not new. We extended revenue share to media partners for 0:13:45.320 --> 0:13:48.720 years and built a business off of that. What we've 0:13:48.720 --> 0:13:52.080 done in the last few years is extend that that 0:13:52.160 --> 0:13:55.439 I'm revenue share to creators and you know, what we've 0:13:55.480 --> 0:13:58.920 seen is so amazing them them just living their lives. 0:13:58.960 --> 0:14:01.600 I mean, And what's I think really interesting is it's 0:14:01.600 --> 0:14:04.440 not just about the revenue share. They're also you know, 0:14:04.520 --> 0:14:08.720 working with brands. So, like an example is Sophie mud 0:14:08.720 --> 0:14:11.560 who's one of our snapstars. She was posting their day 0:14:11.640 --> 0:14:14.720 and her like, I'm air conditioning broke and she went 0:14:14.800 --> 0:14:17.040 on a journey with her mom to get the Dison 0:14:17.120 --> 0:14:21.200 fan And so she's working with a brand that's showing 0:14:21.280 --> 0:14:26.000 up in an organic way in her story. And that 0:14:26.040 --> 0:14:28.880 brand it's not like a jingle, it's not something that's rehearsed. 0:14:28.880 --> 0:14:32.840 It's almost like old school product placement. And then in 0:14:32.880 --> 0:14:35.960 addition to working with brands, she's also you know, in 0:14:36.040 --> 0:14:38.960 our Story's revenue share program, and she's making a direct 0:14:39.040 --> 0:14:42.160 revenue split from Snapchat. And so, you know, something we've 0:14:42.200 --> 0:14:44.800 heard from creators is that they love doing brand deals. 0:14:45.040 --> 0:14:48.280 That's great, but they don't want to always do brand deals. 0:14:48.280 --> 0:14:50.800 They don't want to have all of their content beholden 0:14:50.880 --> 0:14:54.000 to this branded content. And what they really want is 0:14:54.280 --> 0:14:57.840 for the platforms to adequately share revenue with them. And 0:14:57.920 --> 0:15:00.720 so I think what we've built is this this world 0:15:00.800 --> 0:15:03.920 where creators can work with us on revenue sharing, they 0:15:03.920 --> 0:15:05.920 can work with brands, and they can do it in 0:15:05.960 --> 0:15:07.720 a way where they're just being themselves. And I think 0:15:07.720 --> 0:15:08.800 that's been great to see. 0:15:09.040 --> 0:15:12.440 We'll be back with more with Jim Shepherd in just 0:15:12.520 --> 0:15:22.200 a moment. And we are back with Jim Shepherd, director 0:15:22.280 --> 0:15:28.120 of Content and Global Creator Partnerships at Snap, and here 0:15:28.160 --> 0:15:31.800 talking just as the Olympics are going on, and Snap 0:15:31.880 --> 0:15:36.560 has various influencers at the games. We're talking about strategy 0:15:36.600 --> 0:15:40.880 there and the creator economy in general. Jim, you've referred 0:15:40.880 --> 0:15:45.320 a number of times to the role that lenses, which 0:15:45.360 --> 0:15:48.720 of course is a patented Snap tool for the platform. 0:15:49.040 --> 0:15:52.479 But for those who are not familiar with the platform, 0:15:52.720 --> 0:15:56.840 describe a bit how lenses work, how they're being used, 0:15:57.360 --> 0:16:01.280 particularly at the Olympics, or just in general. 0:16:02.200 --> 0:16:06.040 Yeah, so Snap is really the leader in an augmented reality. 0:16:06.240 --> 0:16:10.440 We brought ar to mainstream and you know that's been 0:16:10.480 --> 0:16:12.880 a journey of ours over the last several years. And 0:16:13.440 --> 0:16:16.560 you know, it's it's it's a way where our community 0:16:16.600 --> 0:16:19.240 can have fun. It's a way where our community can 0:16:19.320 --> 0:16:23.000 share really fun content with their friends. And you know, 0:16:23.120 --> 0:16:26.120 it's a way where partners like I'm NBC, for instance, 0:16:26.280 --> 0:16:30.600 can use our in house creative studio to make these 0:16:30.680 --> 0:16:33.360 experiences that people play with. I mean, what's so powerful 0:16:33.360 --> 0:16:36.040 about it is there's only so many thousands of people 0:16:36.080 --> 0:16:38.760 that get to go to the Games, but millions of 0:16:38.800 --> 0:16:42.080 people all over the world can where their country colors 0:16:42.080 --> 0:16:45.200 on their face. They can you know, use the Olympic 0:16:45.320 --> 0:16:48.720 rings in a lens that look like glasses. So that's 0:16:48.760 --> 0:16:51.320 been really exciting. And then you know it's extended to 0:16:51.440 --> 0:16:54.920 brands too. You know, brands love using our lenses to 0:16:55.080 --> 0:16:58.200 promote their products. I mean, Paramount bought a lens for 0:16:58.320 --> 0:17:01.680 Barbie where you know, you could turn yourself into Barbie 0:17:01.800 --> 0:17:05.080 or like I'm into I Can. And then like the 0:17:05.240 --> 0:17:07.800 creators are using these branded lenses too. I mean, one 0:17:07.800 --> 0:17:12.240 great example was uh Dj Khaled worked with Wendy's. They 0:17:12.240 --> 0:17:15.560 had a special Dj Khalid biggie bag which was one 0:17:15.600 --> 0:17:19.560 of their you know, value meal like items, and he 0:17:19.720 --> 0:17:23.040 used the lens on his face making content in his story. 0:17:23.119 --> 0:17:26.320 And then through the Snapstar Collab studio, which connects brands 0:17:26.720 --> 0:17:30.639 to our creators, Wendy's actually turned that content with the 0:17:30.720 --> 0:17:33.359 lens into an ad and they put paid media behind it. 0:17:33.400 --> 0:17:36.160 And so, you know, we're seeing these lenses are really 0:17:36.200 --> 0:17:40.800 resonating with the general Snap community. They're like, I'm really 0:17:40.840 --> 0:17:43.480 resonating with our creators, and they're resonating with brands, and 0:17:43.520 --> 0:17:45.240 so that's been great to see. 0:17:45.600 --> 0:17:48.480 In addition to what you guys are doing with the Olympics, 0:17:48.760 --> 0:17:50.760 on a whole other front, you guys are doing something 0:17:50.760 --> 0:17:54.200 interesting in the sports world. Talk about the Snap Sports 0:17:54.320 --> 0:17:56.480 network that you guys recently launched. 0:17:57.400 --> 0:18:02.119 Yeah, so the Sports network is is just another way 0:18:02.200 --> 0:18:05.119 where we're taking original content and we're putting it in 0:18:05.160 --> 0:18:08.320 a way that advertisers love to buy into. And I think, 0:18:08.760 --> 0:18:12.080 you know, the Olympics is just one example, but I 0:18:12.119 --> 0:18:16.800 think it shows a trend that around big tent pole moments, 0:18:16.880 --> 0:18:21.840 we're able to pull content together that includes our creators 0:18:23.000 --> 0:18:26.640 and you know, top broadcasters, top rights holders, and we're 0:18:26.680 --> 0:18:29.880 able to make a package that are advertisers love. It's 0:18:29.920 --> 0:18:32.320 not just the Snap Sports Network. It's not just the Olympics. 0:18:32.320 --> 0:18:34.600 We do this with the Super Bowl, we do this 0:18:34.680 --> 0:18:37.480 with like a March Madness, and so you know, this 0:18:37.560 --> 0:18:41.680 is an example of a partnership with NBC that that 0:18:41.880 --> 0:18:44.320 you know, we've probably done more with this than anything else. 0:18:44.400 --> 0:18:46.800 But I think it provides a roadmap for a lot 0:18:46.800 --> 0:18:48.480 of these tent pole examples that we want to do 0:18:48.560 --> 0:18:49.199 moving forward. 0:18:49.640 --> 0:18:54.040 But as tent poles go, is the Olympics sort of 0:18:54.160 --> 0:18:57.639 like uh, the ten pole of ten poles, so to speak, 0:18:57.640 --> 0:19:00.080 in terms of the investment and energies that you guys 0:19:00.080 --> 0:19:00.800 are putting behind. 0:19:00.960 --> 0:19:03.560 I mean, it's it's definitely one of them. And I 0:19:03.600 --> 0:19:07.600 think we've definitely built on this on this partnership over 0:19:07.640 --> 0:19:09.879 the last several years, and you know, every time we 0:19:09.960 --> 0:19:12.080 do it, we do a little bit more. I think 0:19:12.080 --> 0:19:15.399 what's really interesting about this time is the creator piece, 0:19:15.880 --> 0:19:18.159 where for the first time we're actually working with NBC 0:19:18.359 --> 0:19:21.720 to send creators to the games. They're making behind the 0:19:21.760 --> 0:19:24.359 scenes content that's a that's then a part of that 0:19:25.000 --> 0:19:28.200 the package that the advertisers can buy into. I think 0:19:28.240 --> 0:19:30.600 that's a roadmap for something that we want to do 0:19:30.640 --> 0:19:31.440 definitely more. 0:19:31.240 --> 0:19:33.840 Of going forward. So and I'm not asking you for, 0:19:34.000 --> 0:19:37.000 you know, lay out your plans here, but hypothetically speaking, 0:19:37.040 --> 0:19:40.240 how does that model could that be applied in the future. 0:19:40.320 --> 0:19:44.360 I think you know, what we've seen with creators, especially 0:19:44.400 --> 0:19:49.240 with Stories, is they're able to make great content just 0:19:49.359 --> 0:19:52.840 interacting with their fans, Like we have this Stories Stories 0:19:52.960 --> 0:19:55.359 Reply feature where they can do like Q and A's 0:19:55.400 --> 0:19:58.080 with their fans and you can make great content that 0:19:58.119 --> 0:20:02.720 their fans love just in their homes, but they make 0:20:02.800 --> 0:20:04.880 better content when they get out in the world. They're 0:20:04.880 --> 0:20:07.960 having fun with friends, they're traveling, and they're going to events, 0:20:08.040 --> 0:20:10.240 and so, you know, going back to your question, I 0:20:10.240 --> 0:20:13.479 think it's it's definitely realistic that we could, you know, 0:20:13.560 --> 0:20:15.800 lean into this and make sure that we have creators 0:20:15.800 --> 0:20:18.560 at the super Bowl, that we have creators at March Badness, 0:20:18.560 --> 0:20:22.240 that we have creators at Coachella making content that brands 0:20:22.280 --> 0:20:24.399 love to buy into. I think that's definitely something that 0:20:24.440 --> 0:20:27.440 we want to lean more into. Now we should make 0:20:27.520 --> 0:20:30.040 clear and correct me if I'm wrong. It's not as 0:20:30.040 --> 0:20:35.159 if you're asking for exclusivity from your creators. The reality 0:20:35.320 --> 0:20:41.320 is creators are on multiple platforms, competing platforms at any 0:20:41.440 --> 0:20:44.840 given time. Or is it when they're covering an event 0:20:44.920 --> 0:20:46.640 they are all in on snap and. 0:20:46.560 --> 0:20:48.000 They're not on other things? 0:20:48.000 --> 0:20:52.200 How does that work? Look? We definitely see Snapchat as 0:20:52.240 --> 0:20:54.520 an end, not an ore. And when I talk to 0:20:54.600 --> 0:20:57.760 creators and recruit them to the platform, like, I never 0:20:57.920 --> 0:21:00.520 tell them to not be on other platforms. I love 0:21:00.640 --> 0:21:04.480 that they're well known for their content elsewhere. I think 0:21:05.119 --> 0:21:09.679 because of the way that snapchats evolved with spotlight and 0:21:09.720 --> 0:21:13.480 with stories and a place where creators can be themselves 0:21:13.560 --> 0:21:16.160 with no light counts, with no comments, and then they're 0:21:16.160 --> 0:21:20.040 making a living doing it, we've created a culture of 0:21:20.119 --> 0:21:23.000 a certain kind of content where they're just being themselves 0:21:23.040 --> 0:21:26.560 and I think that's content that our community loves, and 0:21:26.960 --> 0:21:30.919 it's naturally different than the content that they post elsewhere. Like, 0:21:31.040 --> 0:21:34.840 I'm definitely going to see these creators posting a still 0:21:34.920 --> 0:21:38.160 image on like Instagram, for example, when they're at the Olympics, 0:21:38.160 --> 0:21:41.480 and that's great, but they're living their lives on Snapchat 0:21:41.520 --> 0:21:44.440 and I think, you know, that's something that we've really 0:21:44.480 --> 0:21:46.920 loved to see and I think that you know, their 0:21:46.960 --> 0:21:47.720 fans love it too. 0:21:48.920 --> 0:21:54.200 And we've seen other social platforms. Be Real comes to mind, 0:21:54.359 --> 0:21:57.280 I think was recently sold to another company. But there 0:21:57.440 --> 0:22:03.760 is something about that sort of unfiltered life as it's 0:22:03.920 --> 0:22:08.600 happening kind of vibe that really does resonate in social media. 0:22:08.880 --> 0:22:11.040 Is that sort of maybe you know, the I don't 0:22:11.040 --> 0:22:13.960 want to say the entire secret sauce of snap but 0:22:14.040 --> 0:22:14.919 part of the magic. 0:22:16.040 --> 0:22:18.600 You know, one of the you know, trends in the 0:22:18.600 --> 0:22:21.280 broader industry that I've seen over the last several years 0:22:21.520 --> 0:22:24.600 is so many creators that blow up on a short 0:22:24.600 --> 0:22:27.720 form video platform want to funnel their fans to a 0:22:27.720 --> 0:22:31.320 place that they can monetize and just a place that 0:22:31.400 --> 0:22:36.360 they can post longer form content that engages their community 0:22:36.400 --> 0:22:39.320 of top fans. And what we're seeing play out on 0:22:39.400 --> 0:22:42.760 Snapchat between Spotlight and Stories is that we really have 0:22:42.840 --> 0:22:46.600 both and we're so excited about the relationship that short 0:22:46.640 --> 0:22:50.280 form video and then stories can play. These creators are 0:22:50.760 --> 0:22:53.840 using Spotlight to build an audience, and then they're funneling 0:22:53.840 --> 0:22:56.480 that audience over to their stories, where they're deepening their 0:22:56.480 --> 0:22:59.320 engagement with their fans. And now they're making money from 0:22:59.320 --> 0:23:02.399 their stories revenue share program in a way where they 0:23:02.400 --> 0:23:04.359