Snapchat (SNAP) Partners With Dutch Ministry to Inspire Voting

Snap SNAP announced a collaboration with the Dutch Ministry of the Interior and Kingdom Relations to launch an online campaign and encourage young people to vote in the Dutch provincial council of water authority elections on Mar 15, 2023.

This campaign includes different types of augmented reality filters, lens and stickers, which will be available from Mar 8 to Mar 15, on Snapchat.

On selection of the lens, two virtual boxes will be placed in the actual space where 12 statements will appear. The users can vote "true" or "false" to test their knowledge of the provincial council and water authority elections. In an interactive manner, everyone can learn about the provincial council and water authorities.

There will be a daily countdown starting from Mar 8, which will feature election filters, lens and stickers. On the election day, there will be two filters: one for people who have already cast their votes and one for those who are yet to cast the votes.

According to research, the voter turnout in provincial council and water authority elections is lower than other elections. Almost two-thirds of eligible voters skip this election. To encourage more people to vote, the government is running a campaign, which also includes this collaboration with Snapchat.

Most of the young people have no idea about how provincial and water authorities tackle problems related to housing, water management and climate change.

Snap Inc. Price and Consensus

Snap Inc. Price and Consensus

Snap Inc. price-consensus-chart | Snap Inc. Quote

Snapchat’s Other Partnerships to Boost Top Line

Some key partnerships of Snapchat include Adidas, H&M, Christian Marclay and many more. These partnerships will not only boost the top line but also help in increasing subscribers.

Snapchat has partnered with Adidas to create a one-of-a kind bitmoji drop. Snapchat users love showing their fashion statement with bitmoji and this partnership with Adidas brings exclusive apparel for its metaverse characters. These apparels are available for a limited period and can be purchased with snap coins.

H&M has partnered with Snapchat to launch a digital collection powered by Snap Camera. Snapchat created augmented reality lenses to help its users experience H&M’s new collection. These augmented reality lenses can be found on the H&M mobile app as well as on Snapchat globally.

Snapchat partnered with Christian Marclay on the occasion of its exhibition All Together. Snapchat created a game Playing Pompidou in Center Pompidou, Paris, where the exhibition is held. This would immerse the users in Christian Marclay’s sound universe.

The company’s last-quarter revenues were $1300 million compared with $1298 million in the year-ago quarter. Snapchat+ reached 2 million paying subscribers.

Snapchat will hold its annual Snap Partner Summit on Apr 19, where it will unveil products, services, tools and showcase partnership. The event will also celebrate the company’s growing community of 375 million daily active users.

Zacks Rank & Stocks to Consider

Snapchat currently has a Zacks Rank #3 (Hold).

Some top-ranked stocks in the Computer and Technology sector are Analog Devices ADI, Audioeye AEYE and Airbnb ABNB. Currently, Analog Devices and Audioeye carry a Zacks Rank #2 (Buy), while Airbnb sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Shares of Analog Devices have risen 25.4% in the past year. The Zacks Consensus Estimate for earnings is $2.74 per share, which has expanded from $2.41 per share over the past 30 days.

Shares of Audioeye have declined 3% in the past year. The Zacks Consensus Estimate for loss is 18 cents per share, which has remained unchanged over the past 30 days.

Shares of Airbnb have contracted 16.3% in the past year. Its earnings are estimated to be 14 cents per share, up from breakeven earnings expected 30 days ago.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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