Snap bolsters ad offerings and incentives to woo advertisers — but will they take?

Maybe Snap has managed to convince advertisers of its value after all. At least, it’s trying to. Over the last quarter, the social media platform has been lauding incentives and discounts on top of its beefed up ad offering to get buy in from advertisers and ultimately maintain its recent growth.

The social media platform’s ad business has been steadily growing for the most part, reportedly raking in nearly $1.2 billion in Q1 2024, following the $1.36 billion it brought in during Q4 2023 (slightly missing its projections for the quarter) and the $1.19 billion it brought in during Q3 2023.

Snap spent the bulk of last year in the red as advertisers saw the platform as a nice-to-have rather than a must-have media buy. Since then, however, Snap has been slowly crawling back uphill with ad platform improvements to its pixel purchase optimization model, Conversions API and a few ad incentives to bring advertisers back into the fold.

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