A year ago, Snapchat launched a feature called Live Stories that involved aggregating photos and videos from specific events, including music festivals. Now the company has been talking about how popular those stories are. Recode reports that the average live story attracts 20 million viewers over a 24-hour period, with Snapchat’s director of partnerships Ben Schwerin claiming that this April, its Coachella story doubled that total: 40 million viewers.
Recode has other sources to gauge how lucrative that is for Snapchat, claiming that the company charges around $0.02 per view for 10-second ads that run around the live stories. “Two cents per view equates to $400,000 worth of ad space for a story generating 20 million views,” notes Recode, with the implication that gathering users’ photos and videos of Coachella may have earned Snapchat as much as $800k. Needless to say, none of that money is shared with either the event’s organisers or the fans whose snaps were harvested for the live story.