Snapchat is developing a new product called “Stories Everywhere” with a goal of making Snapchat Stories available outside the app for the first time and kick-starting the app’s stagnant user growth, Cheddar has learned from a person familiar with the matter. To lead the effort, Snapchat’s parent company, Snap Inc., has hired Rahul Chopra, the former Senior Vice President and Global Head of Video at News Corp, who recently was CEO of the media conglomerate’s social data agency Storyful. While Stories Everywhere is still in the early stages of development, Chopra has the important task of figuring out how to finally distribute the app’s wealth of user-generated content on the web and elsewhere. The project could mean that Snapchat makes it easier to share videos on other platforms through a web player that also prompts people to sign up and download the app, the person familiar with the matter told Cheddar. The move echoes Twitter’s 2011 decision to allow content publishers to embed tweets in articles and blog posts. Snap has also contemplated allowing other apps to access its feeds of user-generated videos, which are curated by algorithms and Snap employees, for everything from breaking news events to sports games. Opening up its content to other apps could potentially give Snap a way to make money off content licensing at a time when the young company is under pressure from investors to grow revenue. Additionally, Snap has restructured its expanding content division and added more key roles under the leadership of VP Nick Bell: * Mike Su, the former Chief Product Officer at Latino-focused digital publisher Mitú, now oversees all of Snap’s content-related product development, including tools for media partners. “This will allow him to oversee the product changes needed to help our partners build sustainable businesses on Snapchat,” Bell said in an internal memo seen by Cheddar and sent to Snap employees last week. * Snap’s Michael DiBenedetto will now lead the content team’s strategy and operations. In his memo to employees, Bell called the newly-created position “an extremely important role as we look to drive operational efficiency and deliver on our 2018 plan.” * Former NowThis president Sean Mills will continue to oversee Snap’s original content efforts, including its rapidly growing list of exclusive shows from the likes of NBC and ESPN. In addition, Mills now oversees all programming for the redesigned Snapchat app’s Discover feed of video content, which is being slowly made available to users. * Longtime Snap employee Josh Stone now leads all media company relations. Stone joined Snap in 2013 and helped lead the company’s initial rollout of the Discover page in 2015. He reports to Ben Schwerin, Snap’s VP of Partnerships. In a separate memo sent to Snap employees and reviewed by Cheddar, Bell outlined his content team’s goals for 2018. They include: increase the overall output of content in the redesigned Discover feed, widen content distribution, and double-down on news. Snapchat’s previously announced redesign, which includes the new Discover feed of professional and user-generated videos, is still only active for a small percentage of users. A Snap spokesperson declined to comment for this story.

Share:
More In Business
What Netflix Investors Should Look for as Streaming Competition Grows
Netflix may not be staying at the top of the streaming wars, according to some wary investors, as competition heats up and it raises prices yet again. Tuna Amobi, director and senior equity analyst at CFRA Research, spoke with Cheddar about what investors should be considering should they stick with the streaming pioneer or drop the investment. "I think it's always mostly about the subscriber growth for the Q4, which is going to be an indicator of how the company has been navigating the speed bumps that we saw early in the year," said Amobi.
L’Oréal Leans Into High-Tech Innovations for Home Hair Coloring
L’Oréal is doubling down on its investment in tech. The French beauty giant unveiled two new high-tech products ahead of CES 2022, aimed at simplifying the hair coloring process. Guive Balooch, global vice president of L’Oréal Technology Incubator, joined Cheddar's Opening Bell to discuss the company's innovations for hair coloring, including the Colorsonic application device and the Coloright AI diagnostic tool.
Walmart to Throw Its Hat Into the Ring of Metaverse, Crypto & NFTs
Walmart is one of the latest companies looking to adapt to the emerging digital economy by possibly establishing its own cryptocurrency. The retail giant filed at least seven applications with the U.S. Patent and Trademark Office, including one for blockchain assets.
Inflation Surges to 39-Year High in December
Inflation in the U.S. is only getting hotter. The 12-month inflation rate for December 2021 was the highest in nearly 40 years - continuing the trend seen at the close of 2021. The Consumer Price Index increased 7% in the 12-month period ending in December, marking the fastest increase since 1982. Scott Wren, Senior Global Market Strategist at Wells Fargo Investment Institute, joined Cheddar's Movers for more.
Predictions for Bitcoin As it Plunges Below $40,0000
Bitcoin plunged below the $40,000 mark on Monday, hitting its lowest price since September. The world's most valuable cryptocurrency has had months of hot and cold streaks, and the latest drop now has investors wondering just what 2022 will have in store for bitcoin and the crypto space as a whole. Ben McMillan, CIO at IDX Digital Assets, joined Cheddar Movers to discuss.
Load More