The stock of Snap Inc (NYSE:SNAP) closed at $15.27 losing 0.46% in yesterday’s trading session. This company is working on its Discover news feature in a bid to expand its “Publisher Stories.” Its central objective will be to have it cover channels from university and college newspapers.
The Daily Californian (UC Berkeley), The Daily Orange (Syracuse), The Battalion (Texas A&M) and The Badger Herald (UW Madison) will commence the publication of weekly stories. This will be in a similar fashion to the way most of the traditional media companies move about matters on the Snapchat Discover.
The company is looking forward to unveil a lot of stories in weeks to come and has thus been working quite closely with editorial teams from colleges and customers. A number of people have been questioning the move wondering why it should matter to anyone. It is the first time that Snapchat is making efforts to add hyper-local stories on its platform. That insinuates that the company could be having plans underway to in the near future expand into the local news markets.
The published stories will only be accessed by those students that will have their location enabled on Snapchat and are located on or near a specific college campus. The same way it goes with the traditional media companies, the various college newspaper Stories will be covering “Snap Ads” between Stories to help different institutions in the monetization of their content via the revenue sharing agreement. So far, terms regarding the sharing agreement haven’t yet been brought into the limelight.
In 2014, the business giant launched “Campus Stories” for its regular non-news platform that would move a long way towards helping the various persons on the college campus to within a time frame of 24 hours add their snapchats to the culminating feed of Snaps.
An official working with the company opined, “Snapchat is hoping the new feature will allow students to access news from their favorite campus sources more quickly and efficiently. The college/university newspaper or official campus communication is the primary way they learn about events on campus.”