Feb 9, 2018

Snap gives free ad credits to lure more advertisers

Patrick T. Fallon/Bloomberg via Getty Images

Snap is offering free ad credits to advertisers running vertical video ads on other platforms.

Why it matters: It's an attempt to lure more advertisers onto their platform from competitors like Instagram.

Advertisers are being notified of the opportunity from Snap sales reps, who are primarily going after app install, e-commerce and other mid-small-sized advertisers.

It isn't all bad news. Snapchat has historically had a creative barrier with smaller advertisers who didn't have the capacity to create vertical video ads — Snap's only accepted video ad format. Now, they can onboard new advertisers that have experimented with the technology elsewhere.

  • The company launched Snap Publisher tools over the summer to make these challenges easier, but some advertisers that have historical relationships with Instagram may opt to test the technology with a bigger partner before turning to Snap.
  • Snap Ads are cheaper than Facebook ads, which may help lure some mid-market advertisers over.

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Congress' $250 billion PPP injection could come too late for some businesses

Illustration: Sarah Grillo/Axios

Before the Paycheck Protection Program formally launched last Friday, we knew two things: The rollout would be rocky, and the initial $250 billion wouldn't be enough for America's small businesses.

The state of play: Banks and government officials have been working to smooth out the process, and on Thursday the Senate will vote to pump another $250 billion into the program.

Fauci: Social distancing could reduce coronavirus death toll to 60,000

Photo: Chip Somodevilla/Getty Images

Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, told NBC's "Today" on Thursday that he's hopeful that social-distancing measures in place across the U.S. will reduce the total number of coronavirus deaths.

Why it matters: Fauci said that while early models projected between 100,000 and 200,000 U.S. deaths from the pandemic, he now believes that number could come down to 60,000 — but he emphasized the importance of keeping social distancing in place to ensure that trend holds.

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OPEC+ and G20 energy meetings mark zero hour for oil diplomacy

Illustration: Aïda Amer/Axios

The next two days will be pivotal for determining whether large oil-producing countries can partially stabilize an industry reeling from very low prices and the historic, coronavirus-fueled collapse in demand.

Driving the news: The OPEC+ group led by Saudi Arabia and Russia begin meeting remotely later Thursday morning to discuss production cuts, to be followed by a virtual Friday meeting among G20 energy ministers that includes the U.S.