Snapchat hires Danny Bass for ANZ lead, Kathryn Carter takes on APAC
Former Mediabrands CEO and GroupM Chief Investment Officer Danny Bass has flipped back to the sell side of the $16 billion ad market, starting next week to lead Snap’s revenue ambitions across Australia and New Zealand as current ANZ boss Kathryn Carter leads Snap's APAC expansion.
You need to know:
- Danny Bass to start at Snapchat next week to lead its revenue growth ambitions across ANZ.
- Kathryn Carter to run APAC from Sydney as regional HQ.
- Snap's share price has tripled in the past year as equity markets think the "camera company" has shaken off the threat of Facebook copying many of its product features aimed at suppressing Snap's user growth.
- Snap founder Evan Spiegal is said to have a keener interest the Australian market - his wife is Miranda Kerr.
Snap is pushing its APAC growth ambitions with local boss Kathryn Carter taking on an expanded regional brief and former Mediabrands CEO and GroupM Chief Investment Officer Danny Bass flipping back from media agencies to the sell side, starting next week to lead Snap’s revenue ambitions across Australia and New Zealand.
Snap, which tries to convince people it is a “camera company” rather than a social media platform, has expanded the brief of current ANZ boss Kathryn Carter to APAC General Manager.
A Snap statement to Mi3 says Bass will “lead revenue in Australia and New Zealand at the camera company, working hand in hand with advertisers, helping them to best leverage Snapchat to grow their business and reach Gen Z audiences.”
Media industry sources estimate Snap’s ANZ revenues are upwards of $75 million and say its direct business, that is, revenues generated outside media agencies, is significant. Bass’s title at Snap is Director, Business Solutions, ANZ.
Globally, equity markets are convinced Snap has shaken-off the incursions from Facebook to copy its platform features and stymie user growth; Snap’s share price has soared 640 per cent in since March 2020 to a market value nudging $US120 billion.
Snap said in an earnings announcement for the June quarter that daily active users were up 23% to 293 million and forecast revenue growth of circa 60% for the September quarter. Annual revenues were $US2.5bn last year.
Snap founder Evan Spiegel is married to Miranda Kerr and is said to have acquired a keener interest in the Australian market, where Snap claims to reach more than 6.3m active users – some 90 per cent of 13- to 24-year-olds and 75 per cent of 13- to 34-year-olds.
Carter confirmed to Mi3 yesterday her expanded APAC role and the appointment of Bass. She said Australia and New Zealand were mirroring Snap’s global growth rates for users and revenues.
“We’re very fortunate to experience the amazing momentum from a commercial perspective which is enabling us to invest in the local market and Danny Bass being one of them,” she said. “We’re in the nascent stages from an Asia perspective. We have an excellent offering in India and we’re seeing that extend across audiences and commercial.”
Carter said the priority markets for Snap’s regional expansion were Japan, Korea and Singapore. Snap's regional HQ will be based out of Sydney, at least in the short term.
Bass finished up gardening leave after exiting Mediabrands last year and has been consulting to Snap, media companies, agencies and developing his “Berry Hill” corporate retreat on the Hawkesbury river north of Sydney
He spent ten years with News Corp as its digital sales boss before joining GroupM, widely tipped as a future CEO before defecting to lead Mediabrands. He said in a Snap statement: “I am very happy to be joining the team at Snap at such an exciting time. I am looking forward to building on the great work done by Kathryn and the team as well as supporting her in her new regional role.”
Mi3 Special Report: Australia's looming $1bn retailer media market
- Australia's retailers are gearing up to become major media channels.
- US retailers are already displacing 'legacy' publishers.
- All retailers are eyeing media, not just supermarkets and FMCG.
- Mi3 supported by Resolution Digital have produced a 28-page report with cross-industry views on what you need to know.
Expert analysis & market impacts for brands, publishers and agencies.Get ahead of the curve. DOWNLOAD THE REPORT HERE DOWNLOAD your 28-page report here.
As much of Australia looks forward to emerging from long lockdowns in the coming weeks, there is huge pent-up demand for retail therapy. Scentre Group, which operates 42 Westfield shopping centres across ANZ, has polled thousands of customers on their Christmas plans. The results should give brands and retailers some pre-festive cheer.