Snapchat is offering discounts and incentives to help brands recut their videos into the vertical format. The incentives appear to be targeted at small brands and businesses, which in addition to having smaller media budgets, generally have proportionally smaller production budgets as well. Snap is hoping to recut its way to revenue growth. The platform is offering discounts and incentives for creative services, specifically helping brands recut horizontal ads into its signature vertical format, multiple ad agency executives told Business Insider. The incentives were made available for advertisers running Snap Ads, its video ads, in the second and third quarter. According to one ad agency executive, Snap is offering to reimburse the recut cost up to the greater of $1,500 or 1% of the overall budget where the spend is over $40,000. “Basically, they are providing incentives in an effort to eliminate the friction between horizontal ad assets and its vertical format, recutting them so that they can run on Snap,” the executive said. Another media agency executive at a holding company said that Snapchat had offered to cut assets for the agency’s clients if the clients were unwilling to do campaigns on Snapchat “because they didn’t have any vertical… Read full this story
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