{"id":127389,"date":"2024-09-04T08:16:22","date_gmt":"2024-09-04T08:16:22","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/09\/04\/snap-to-focus-on-ads-business-ar-amid-poor-stock-performance\/"},"modified":"2024-09-04T08:16:23","modified_gmt":"2024-09-04T08:16:23","slug":"snap-to-focus-on-ads-business-ar-amid-poor-stock-performance","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/09\/04\/snap-to-focus-on-ads-business-ar-amid-poor-stock-performance\/","title":{"rendered":"Snap to Focus on Ads Business, AR Amid Poor Stock Performance"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"675\" src=\"https:\/\/i3.wp.com\/i.gadgets360cdn.com\/large\/snapchat_app_gadgets_360_1565587527554.jpg?resize=1200,675&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Snap to Focus on Ads Business, AR Amid Poor Stock Performance\" title=\"Snap to Focus on Ads Business, AR Amid Poor Stock Performance\" \/><\/div><p> <br \/>\n<\/p>\n<div>\n<p>Snap will concentrate on expanding and diversifying its underperforming advertising business with a focus on Augmented Reality (AR), CEO Evan Spiegel informed employees in a note on Tuesday.<\/p>\n<p>The announcement comes amid a challenging period for the <a class=\"sp_lnk2\" href=\"https:\/\/www.gadgets360.com\/tags\/snapchat\">Snapchat<\/a>\u00a0owner, as it contends with major social media players such as Instagram parent Meta Platforms and Bytedance&#8217;s TikTok for advertising revenue.<\/p>\n<p>&#8220;You may be wondering why, with all of the progress we&#8217;ve made in our business over the last year, our share price performance has lagged the overall market. The answer is simple: our advertising business is growing slower than our competitors,&#8221; Spiegel said in the note.<\/p>\n<p>At the start of August,\u00a0<a class=\"sp_lnk2\" href=\"https:\/\/www.gadgets360.com\/tags\/snap\">Snap<\/a>\u00a0projected a weak forecast for the current quarter, citing a decrease in advertising spend and is now expected to report fiscal 2024 revenue of $5.34 billion (roughly 44,837 crore), according to LSEG data.<\/p>\n<p>Snap&#8217;s stock has fallen around 48 percent so far this year.<\/p>\n<p>The company will also revamp its market strategy by launching new ad placements powered by <a class=\"sp_lnk2\" href=\"https:\/\/www.gadgets360.com\/tags\/machine-learning\">Machine Learning (ML)<\/a> and automation.<\/p>\n<p>It is also developing AR and smart glasses, much like its peer Meta.<\/p>\n<p>&#8220;We are investing in creating AR\u00a0glasses that allow people to interact with computing, the world, and one another in totally new ways,&#8221; the note said.<\/p>\n<p>In June, Snap launched generative AI tools that enable users to apply more realistic effects when using their phone cameras to film themselves.<\/p>\n<p><em>\u00a9 Thomson Reuters 2024<\/em><\/p>\n<p><i>(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)<\/i><\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.gadgets360.com\/apps\/news\/snap-focus-advertisement-business-augmented-reality-ar-ceo-evan-spiegal-6487448#rss-gadgets-news\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Snap will concentrate on expanding and diversifying its underperforming advertising business with a focus on Augmented Reality (AR), CEO Evan Spiegel informed employees in a note on Tuesday. The announcement comes amid a challenging period for the Snapchat\u00a0owner, as it contends with major social media players such as Instagram parent Meta Platforms and Bytedance&#8217;s TikTok [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":127390,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/i.gadgets360cdn.com\/large\/snapchat_app_gadgets_360_1565587527554.jpg","fifu_image_alt":"","footnotes":""},"categories":[607],"tags":[7042,32540,11813,449,5711,25960,44737,438,5555,11812,102939,11815,1601],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/127389"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=127389"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/127389\/revisions"}],"predecessor-version":[{"id":127391,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/127389\/revisions\/127391"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/127390"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=127389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=127389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=127389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}