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<ul class="summary-list"><li>Discord is launching Video Quests, its second ad format, as it looks to grow its ads business.</li><li>Video Quests reward viewers with in-game items or profile enhancements for watching ads.</li></ul>The gaming-focused chat app Discord is readying the launch of its second ad format, part of a plan to steadily grow its ads business ahead of a potential initial public offering.Video Quests will reward viewers for watching a video ad, such as with an in-game item, a skin for a character in that game, or a way to augment how their profile appears on Discord.The ads will initially appear in the lower-left area of the app on desktop, via mobile banners, and in the Quests home page.Discord first rolled out ads earlier this year when it introduced Quests — now known as Game Quests — which let games developers and publishers offer users in-game rewards if they streamed their gameplay from a specific game with friends.Until then, Discord had <a target="_blank" class="" href="https://www.wsj.com/articles/a-social-network-without-ads-discord-defies-convention-11615199401">eschewed advertising</a> over concerns it would be too intrusive and that users wouldn't want to share their data with marketers.That's why the company is taking a deliberately slow-and-steady approach to advertising. Both Quests formats are only currently available to games developers and publishers, though Peter Sellis, Discord's SVP of product, said the company would be open to having conversations with gaming-adjacent brands over time.Activision Blizzard's World of Warcraft, Epic Games' Fortnite, and HoYoverse's Genshin Impact have run Quests on Discord this year."Discord is a place where you play games with your friends, so game-related ads feel really good," Sellis told Business Insider in an interview. "We have to be really careful with how we use that kind of superpower."For now, Quests can only be bought directly from the Discord sales team — there's no self-service facility or integrations with third-party ad-buying platforms.<div type="image" title="A Discord Game Quest ad." height="967" width="1440" msid="113915662" hostid="261" sizebytes="58544"></div>Advertisers can target their campaigns by age, geography, and a user's gameplay history. Sellis said the cost of an overall campaign tends to be large but that they are "competitively priced" versus other platforms such as Netflix that launched their ad businesses with sky-high CPMs — the cost-per-mille, or the cost to reach 1,000 impressions — only to later bring them down."Those other platforms gave gone to market with very premium CPMs, sometimes $50-plus in some cases; at Discord we're looking at something that's half of that or even less," Sellis said. (<a target="_blank" class="" href="https://www.businessinsider.com/snap-snapchat-layoffs-peter-sellis-discord-2022-9">Sellis previously worked</a> on business products at Snap, which also came out of the gate with <a target="_blank" class="" href="https://www.businessinsider.com/snapchat-discover-ad-rates-2015-3">large CPMs</a> when it first offered ads on Snapchat.)He added that the design of Quests lends itself to users sharing content with their friends, which boosts the overall impressions a campaign is likely to generate.<h2 id="9001a00a-7836-4fd0-acb8-334ba4e774a6">Discord ad revenue could one day become 'on par' with its subscription business</h2>Growing Discord's advertising revenue will be crucial as the nearly 10-year-old company looks to turn a profit and plot a path towards a potential IPO.Discord's chief executive, Jason Citron, <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-03-07/discord-to-offer-rewards-for-gamers-as-app-seeks-profit-in-2024">told Bloomberg</a> in March that "at some point, we'd probably go public." The company has raised around $1 billion in investment to date, according to PitchBook.Right now, the company generates the vast majority of its revenue from its Nitro subscription service, where users pay either $2.99 or $9.99 a month to unlock benefits like high-definition streaming, custom emojis, and the ability to upload larger files. Otherwise, Discord is free to use. It also makes money by taking a 10% commission from developers who sell their games on Discord and when users pay to boost their communities — known as servers — to a bigger audience.<div type="image" title="Peter Sellis, Discord svp of product, headshot" height="3285" width="4380" msid="113915657" hostid="261" sizebytes="330508"></div>The company is expected to generate around $600 million in annual revenue this year, Bloomberg reported in March."I do foresee that advertising could be a very significant contributor to our business, on par with our subscription business, long-term," Sellis said.Discord is currently growing its in-house advertising ranks. It recently hired Adam Bauer, formerly of FaZe Clan, as its <a target="_blank" class="" href="https://digiday.com/marketing/why-discord-is-making-key-hires-to-build-out-its-advertising-business/">VP of sales,</a> and it lists seven open ad sales roles on its careers site.But Discord is a late entrant in a crowded market. While Discord has grown to around 200 million monthly active users, competitors like Meta and Google have billions — as well as precision-targeting, measurement, and brand safety features that Discord doesn't yet offer. A laser focus on the gaming category could also limit its potential pool of advertisers.Hon-Ming Gianotti, strategic industries lead for games at the marketing agency Monks, said that "intimacy" is one of the platform's unique selling points that Discord should attempt to pitch to the advertising community."When you're communicating directly to a group of friends about specific labeled topics or a bunch of people with similar interests to you, you're in a very different type of mindset — you're seeking to actually socialize and communicating with people about real things rather than viewing a thing and reacting in the comments," Gianotti said.For advertisers, he added, "The benefit of being a filter or layer or entity that contributes to that intimate experience is exciting."

How Discord is laying the groundwork for ads to make as much revenue as subscriptions

<keyword id="19896956" type="General" weightage="100" keywordseo="Swiggy" source="keywords" meta.keywordsubtype="org" meta.entityname="Swiggy" meta.hostid="261" meta.entityid="Swiggy">Swiggy</keyword>’s stock market debut has been awaited for a long time and recent reports suggest that the Bengaluru-based company is expected to raise more than USD 1 billion through its IPO. Reports also suggest that the company might soon file its draft red herring prospectus (DRHP) with the <keyword id="19901204" type="General" weightage="20" keywordseo="Securities-and-Exchange-Board-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Securities and Exchange Board of India" meta.hostid="261" meta.entityid="Securities and Exchange Board of India">Securities and Exchange Board of India</keyword> (Sebi), potentially launching its IPO as early as this week. Meanwhile, Swiggy has been busy implementing several notable changes across its operations, probably to gear up for its IPO. From changing leadership to expanding Instamart’s reach, let us take a look some changes implemented by Swiggy in the last few months. <h2>Leadership overhaul </h2> One of the most significant shifts has been at <keyword id="19939135" type="General" weightage="20" keywordseo="Swiggy-Instamart" source="keywords">Swiggy Instamart</keyword>, the company's quick commerce arm. Swiggy appointed <keyword id="22954620" type="General" weightage="20" keywordseo="Amitesh-Jha" source="keywords">Amitesh Jha</keyword>, a seasoned executive from Flipkart, as the new CEO of Instamart last month. This move marks the third leadership change for Instamart in just 18 months. As part of this transition, Phani Kishan, the outgoing head of Instamart, was announced to take on a broader role within Swiggy, overseeing the Central Growth unit and working closely with co-founder Sriharsha Majety on new initiatives. <h2>Expanding Instamart’s reach </h2> Swiggy Instamart has also been on an expansion spree, recently launching in 11 new cities across India, including Rajkot, Thrissur, and Kanpur. This expansion marks a strategic push into Tier 2 and 3 cities, broadening its customer base beyond metropolitan areas. The platform, which offers delivery of daily essentials in just 10 minutes, also said in a press release that it has seen encouraging results in these new locations. In Mangalore, for example, a new store achieved 1,000 orders in a single day faster than many larger cities. This localised approach, featuring partnerships with regional vendors, has enhanced Instamart’s appeal and efficiency in serving diverse customer needs. "Users across India already recognise the convenience Swiggy provides," Amitesh Jha said in a press release and added, "The enthusiastic demand from smaller towns and cities has been incredibly encouraging. Our expansion into these new locations marks a significant milestone, allowing even more people to experience the ease of having thousands of products—from everyday essentials to electronics and toys—delivered in just 10 minutes from both national and local brands." <h2>Changes in management </h2> Swiggy has also made notable changes in its management team recently. Himavant Srikrishna Kurnala, previously with Reliance Retail’s JioMart, was appointed as the head of product for Instamart earlier this year. His appointment is part of a broader strategy to strengthen the team ahead of the IPO. Other key hires include Mayank Rajvaidya, who has been named vice president of fruits and vegetables, and Manu Sasidharan, who joined as associate vice president of the FMCG category. These additions come in the wake of several high-profile departures from the company, signalling a recalibration of Swiggy’s leadership structure. <h2>Policy changes for restaurant partners </h2> Swiggy’s founder recently revealed that the decade-old startup partners with over 3 lakh restaurants today. And thus, when a policy change decision was announced that impacted restaurant partners directly, it made headlines. In a move to standardise its service fees, Swiggy extended its gross value service fee policy to restaurants in non-metro areas. This change, effective from August 14, involves charging a service fee on the gross value of orders, including GST and packaging fees. This adjustment was expected to lead to an increased commission for restaurant partners in smaller towns and cities. The policy shift aligns with the fees already applicable to restaurants in larger urban areas and reflects Swiggy’s efforts to streamline its revenue model. <h2>Converting into a public limited company </h2> To facilitate its upcoming IPO, Swiggy also transitioned from a private limited company to a public limited company. Earlier this year, Swiggy updated its name to <keyword id="23191546" type="General" weightage="20" keywordseo="swiggy-limited" source="keywords">Swiggy Limited</keyword>, removing the term 'Private' to better align with its public offering aspirations. This strategic move was intended to prepare the company for public investment and enhance its market presence. As Swiggy readies itself for its IPO, these changes underscore the company's commitment to growth, innovation, and adaptability. The upcoming listing marks a significant milestone in Swiggy’s journey, reflecting its ongoing evolution and strategic realignment in the competitive food delivery landscape.

Swiggy is preparing for its IPO soon: A look at some recent changes in the company

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How Discord is laying the groundwork for ads to make as much revenue as subscriptions

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