Electric Daisy Carnival kicks off sponsored event series Friday
Starting Friday with Las Vegas’ Electric Daily Carnival — the premiere U.S. festival for electronic dance music — Live Stories will begin an initiative under which it will capture content at festivals and concerts owned by Live Nation through 2016. Financial terms of the deal were not disclosed.
Live Stories got its start at last year’s EDC and has quickly mushroomed into a juggernaut for Snapchat, attracting major advertisers to its proprietary blend of crowdsourced video and photos exclusive to the platform for just 24 hours.
A key component of the deal will be usage of festival-branded geofilters, the colorful digital decals Snapchat uses to identify the location being depicted in Live Stories. Earlier this week, McDonalds became the first company to sponsor a geofilter, allowing Snapchat users at any of the fast-food giant’s stores to illustrate their footage with cute images of its products that essentially double as advertisements.
The Live Nation deal will also make available an assortment of official brand marks for Snapchat thumbnail images and behind-the-scenes Snaps.
Each edition of Live Stories attracts an average of 20 million users within its 24-hour existence, Schwerin recently told Re/Code, with a recent installment devoted to Coachella doubling that total. That bodes well for Live Nation, which has built out unparalleled assortment of festivals around the world across a wide variety of music genres, including the recently acquired Bonnaroo and C3 events.
“The Snapchat platform is the perfect way to share the experience. They do an incredible job of curating in a way that gives fans an inside view of what it’s like to be at the festival,” said Russell Wallach, Live Nation president of media and sponsorship.
Live Stories has broadened out to usage by various pro-sports leagues and even to the presidential campaign trail, with both Hilary Clinton and Jeb Bush using the platform to promote events in which they formally announced their candidacies. Snapchat is winning with marketers eager to reach hard-to-reach young consumers who predominate on the platform’s footprint totaling an estimated 100 million monthly users.
“We already have data that tells us this is how millennials are sharing, and millennials are a big part of our audience for these festivals around the world,” said Wallach, who added that the companies are still determining which upcoming Live Nation events will utilize Live Stories.
In addition to Live Stories, Snapchat has also made significant headway with both content publishers and advertisers on its Discover platform, which launched in January. Comedy Central, Vice, ESPN and National Geographic are among the brands contributing daily shortform programming to Discover.
The ad revenue from both Live Stories and Discover has helped fuel the massive growth of the Venice, Calif.-based Snapchat, with a valuation approaching $16 billion.