Snap Rumored To Launch Gaming Platform Next Month
Snap Inc., the parent company of Snapchat, is getting set to launch a new gaming service according to sources familiar with the plans. Those sources claim that the gaming platform will be launched for developers next month and goes by the codename "Project Cognac." According to the source, the service will feature a handful of game titles developed outside of Snap that are specifically designed to work inside the Snapchat app.
The game service is tipped to become official at the company's first summit for content and developer partners in LA on April 4. According to the report from Cheddar, along with the new gaming service, Snap will also be announcing new video initiatives that include new original shows.
Snap has struggled to gain new users in recent months, but it is seeing impressive revenue growth; it recently announced that revenue for the last quarter had grown 36%. Despite struggles to continue its growth, Snapchat is taking younger users from Facebook. Previous reports indicated that Facebook shed millions of users in 2017 with many of the younger generation Facebook lost moving to Snapchat instead.
Snapchat counts Tencent, the biggest gaming company in the world, among its investors. Tencent has stated in the past that it would be working on games with Snapchat; Snap also gobbled up a gaming company called Prettygreat recently.
Snapchat can't be happy about the leaking of information on its gaming service; it threatened jail time for leakers last year when internal user metrics were published.