With Snapchat’s disclosure earlier this week that its users are watching eight billion videos a day, around as many as Facebook’s last reported number, Snapchat CEO Evan Spiegel hinted at what could be intensifying competition for video ad dollars between the social media companies.
But the latest ad products being pitched by the two are very different. And some marketers say they’re not directly competitive, instead serving distinct use cases. Snapchat’s product offers a marketing opportunity that feels conversational and is meant to evoke an immediate reaction, even a purchase. Facebook’s newly unveiled Canvas product is better at making brands top of mind.